ALLETE INC — Director's Dealing 2011

Aug 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALLETE INC (ALE)
CIK: 0000066756
Period of Report: 2011-08-03

Reporting Person: SHIPPAR DONALD J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-08-03	Common Stock	M	6000	$37.76	Acquired	14295	Direct
2011-08-03	Common Stock	S	3000	$40.00	Disposed	11295	Direct
2011-08-03	Common Stock	S	3000	$40.25	Disposed	8295	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-08-03	Employee Stock Option (Right to Buy)	$37.76	M	6000	Disposed	2013-05-01	Common Stock (6000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	23554	Indirect

Footnotes

F1: The option vested in three equal installments on February 2, 2005, February 2, 2006 and February 2, 2007, respectively.

F2: According to the grant terms, the original expiration date of February 2, 2014 was accelerated upon Mr. Shippar's retirement.