ALLETE INC — Director's Dealing 2012

Aug 16, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALLETE INC (ALE)
CIK: 0000066756
Period of Report: 2012-08-15

Reporting Person: McMillan David J (SVP External Affairs)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-08-15	Common Stock	M	1931	$23.79	Acquired	12509.69	Direct
2012-08-15	Common Stock	S	1331	$41.10	Disposed	11178.69	Direct
2012-08-15	Common Stock	S	200	$41.11	Disposed	10978.69	Direct
2012-08-15	Common Stock	S	300	$41.12	Disposed	10678.69	Direct
2012-08-15	Common Stock	S	100	$41.15	Disposed	10578.69	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-08-15	Employee Stock Option - Right to Buy	$23.79	M	1931	Disposed	2013-02-03	Common Stock (1931)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	8275.35	Indirect

Footnotes

F1: Includes shares acquired in exempt transactions under ALLETE's employee stock purchase plan, the dividend reinvestment features of ALLETE's stock purchase and dividend reinvestment plan, and the dividend equivalent feature of restricted stock grants under ALLETE's executive long-term incentive compensation plan, all based on plan information available as of July 31, 2012.

F2: Includes shares acquired in exempt transactions under ALLETE's retirement savings and stock ownership plan (RSOP) and is based on RSOP plan information available as of July 31, 2012.

F3: The option vested in equal installments on February 3, 2004 and February 3, 2005.