FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * COTTERELL SAMUEL K   2. Issuer Name and Ticker or Trading Symbol BOISE INC. [BZ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Vice President & Controller (Last) (First) (Middle) BOISE INC., 1111 WEST JEFFERSON STREET, SUITE 200 3. Date of Earliest Transaction (Month/Day/Year) 03/15/2010 (Street) BOISE, ID 83702-5388 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 03/15/2010   M   20,000 A $ 0 29,005 D   Common Stock 03/15/2010   F   6,851 (1) D $ 5.46 22,154 D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

2008 Restricted Stock Units

(2)

(3)

02/28/2011

Common Stock

14,800

14,800

D

2008 Restricted Stock Units

(2)

(4)

02/28/2011

Common Stock

23,900

23,900

D

2008 Restricted Stock Units

(2)

(5)

02/28/2011

Common Stock

5,433

5,433

D

2009 Restricted Stock Units

(2)

03/15/2010

M

20,000

(6)

03/15/2012

Common Stock

20,000

$ 0

80,000

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
COTTERELL SAMUEL K BOISE INC. 1111 WEST JEFFERSON STREET, SUITE 200 BOISE, ID 83702-5388			Vice President & Controller

Signatures

/s/ Samuel K. Cotterell		03/17/2010
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	On March 16, 2009, Mr. Cotterell was awarded 100,000 service-condition vesting restricted stock units under the Boise Inc. Incentive and Performance Plan, which was reported on Mr. Cotterell's Form 4 filed with the SEC on March 18, 2009. The first 20% of this 2009 award (20,000 units) vested on March 15, 2010, and Mr. Cotterell elected to have shares withheld to satisfy his tax withholding obligation.
(2)	Each restricted stock unit represents a contingent right to receive one share of Boise Inc. common stock.
(3)	These restricted stock units vest upon Boise Inc.'s common stock achieving a market price of $10.00 per share.
(4)	These restricted stock units vest upon Boise Inc.'s common stock achieving a market price of $12.50 per share.
(5)	The first 1/3 of Mr. Cotterell's service-condition vesting restricted stock units vested on March 2, 2009, the second 1/3 vested on March 1, 2010, and the remaining 1/3 will vest on February 28, 2011. Pursuant to Mr. Cotterell's Restricted Stock Unit Award Agreement, the company pays cash for the fractional shares.
(6)	These service-condition vesting restricted stock units vest as follows: 20% vested on March 15, 2010; 20% will vest on March 15, 2011; and 60% will vest on March 15, 2012.

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