ALLETE INC — Director's Dealing 2013

Feb 22, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALLETE INC (ALE)
CIK: 0000066756
Period of Report: 2013-02-21

Reporting Person: Hodnik Alan R (Director, Chairman, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-02-21	Common Stock	M	1366	$37.76	Disposed	27091.01	Direct
2013-02-21	Common Stock	M	1655	$41.35	Acquired	28746.01	Direct
2013-02-21	Common Stock	M	2165	$44.15	Acquired	30911.01	Direct
2013-02-21	Common Stock	M	6643	$39.10	Acquired	37554.01	Direct
2013-02-21	Common Stock	F	9868	$46.62	Disposed	27686.01	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-02-21	Employee Stock Option (Rt. to buy)	$37.76	M	1366	Disposed	2014-02-02	Common Stock (1366)	Direct
2013-02-21	Employee Stock Option (Rt. to buy)	$41.35	M	1655	Disposed	2015-02-01	Common Stock (1655)	Direct
2013-02-21	Employee Stock Option (Rt. to buy)	$44.15	M	2165	Disposed	2016-02-01	Common Stock (2165)	Direct
2013-02-21	Employee Stock Option (Rt. to buy)	$39.10	M	6643	Disposed	2018-02-01	Common Stock (6643)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5551.03	Indirect

Footnotes

F1: The reporting person exercised stock options, funding the transaction, in part, by the surrender to the company of shares of Common Stock already owned by the reporting person. The reporting person continues to hold the shares gained on exercise (i.e., net of the surrendered shares).

F2: The option vested in three equal installments; one-third vested on February 2, 2005, one-third vested on February 2, 2006, and one-third vested on February 2, 2007.

F3: The option vested in three equal installments; one-third vested on February 1, 2006, one-third vested on February 1, 2007, and one-third vested on February 1, 2008.

F4: The option vested in three equal installments; one-third vested on February 1, 2007, one-third vested on February 1, 2008, and one-third vested on February 1, 2009.

F5: The option vested in three equal installments; one-third vested on February 1, 2009, one-third vested on February 1, 2010, and one-third vested on February 1, 2011.