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 * Graham Donald C.   2. Issuer Name and Ticker or Trading Symbol Graham Packaging Co Inc. [GRM] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 1420 SIXTH AVENUE 3. Date of Earliest Transaction (Month/Day/Year) 12/08/2010 (Street) YORK, PA 17403 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ 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 12/08/2010   S   5,000 D $ 12.7 979,154 I See Notes 1, 2, 3, and 4. (1) (2) (3) (4) Common Stock 12/09/2010   S   8,789 D $ 12.6709 (5) 970,365 I See Notes 1, 2, 3, and 4. (1) (2) (3) (4) Common Stock 12/10/2010   S   355,000 D $ 12.7826 (6) 615,365 I See Notes 1, 2, 3, and 4. (1) (2) (3) (4)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Graham Donald C. 1420 SIXTH AVENUE YORK, PA 17403		X
GPC Investments, LLC 1420 SIXTH AVENUE YORK, PA 17403		X

Signatures

Paul L. Rudy III, Attorney-in-Fact of Donald C. Graham		12/10/2010
**Signature of Reporting Person		Date
Paul L. Rudy III, VP Finance, Secretary, and Treasurer of GPC Investments, LLC		12/10/2010
**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)	Donald C. Graham ("Mr. Graham") is the sole member of GPC Investments, LLC ("GPC Investments"), he is the sole member of Graham Capital Company ("GCC"), and he is the majority shareholder of Graham Engineering Corporation ("GEC"). GPC Investments is the sole general partner of Graham Alternative Investment Partners I ("GAIP").
(2)	On December 8, 2010, GAIP sold 5,000 shares of common stock of the issuer ("Shares") for $12.70 per Share on the open market. On December 9, 2010, GAIP sold 8,789 Shares for $12.6709 per Share on the open market. On December 10, 2010, GAIP sold 215,465 Shares for $12.7826 per Share on the open market. On December 10, 2010, GEC sold 139,535 Shares for $12.7826 per Share on the open market.
(3)	At the conclusion of the December 8, 9, and 10, 2010 transactions, Mr. Graham was the beneficial owner of 615,365 Shares, 452,940 of which were directly owned by GCC, and 162,425 of which were directly owned by GEC. At the conclusion of the December 8, 9, and 10, 2010 transactions, GPC Investments was no longer the beneficial owner of any Shares.
(4)	The reported securities are directly owned by GAIP, GCC and/or GEC. Mr. Graham and GPC Investments disclaim beneficial ownership of the reported securities except to the extent of their respective pecuniary interests therein.
(5)	The price in column 4 is a weighted average. The prices actually received on sales made on December 9, 2010, ranged from $12.58 to $12.79. For all transactions reported in this Form 4 utilizing a weighted average price, the reporting person undertakes to provide upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each seperate price within the range.
(6)	The price in column 4 is a weighted average. The prices actually received on sales made on December 10, 2010, ranged from $12.72 to $13.07. For all transactions reported in this Form 4 utilizing a weighted average price, the reporting person undertakes to provide upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each seperate price within the range.
Remarks: Following the December 10, 2010 transaction reported herein, GPC Investments ceased to own more than 10% of the issued and outstanding Shares, and is no longer subject to Section 16.

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