Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

At its July 9, 2009 meeting, the Executive Compensation Committee (the "Compensation Committee") of the Board of Directors of Tredegar Corporation (the "Corporation") approved adding a new performance measure to the 2009 Incentive Plan for Executive Officers (the "2009 Incentive Plan"). The 2009 Incentive Plan was previously reported on Form 8-K filed on February 19, 2009 with the Securities and Exchange Commission. For the named executive officers, other than Ms. Taylor and Mr. Edwards, 2009 financial performance will be measured by the previously reported economic profit added ("EPA"), and adjusted earnings before interest and taxes ("Adjusted EBIT"), based on the Corporation's consolidated results. Adjusted EBIT excludes from earnings unusual items and losses associated with plant shutdowns, asset impairments and restructurings, gains or losses from the sale of assets, investment write-downs or write-ups, charges related to stock option awards accounted for under the fair value-based method and other items that may be recognized or accrued under U.S. generally accepted accounting principles. For Ms. Taylor, 2009 financial performance will be measured by EPA, and operating profits, based on the performance of the Film Products division, which Ms. Taylor leads.

The 2009 Incentive Plan's short-term incentive opportunities, and special plan provisions that apply to D. Andrew Edwards, remain unchanged from those reported in the Corporation's February 19, 2009 Form 8-K filing.

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