ALLETE INC — Director's Dealing 2015

Aug 13, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALLETE INC (ALE)
CIK: 0000066756
Period of Report: 2015-08-12

Reporting Person: McMillan David J (SVP - External Affairs)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-08-12	Common Stock	M	4365	$44.15	Acquired	19508.13	Direct
2015-08-12	Common Stock	S	4365	$50.74	Disposed	15143.18	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-08-12	Employee Stock Option-Right to Buy	$44.15	M	4365	Disposed	2016-02-01	Common Stock (4365)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	11620.46	Indirect

Footnotes

F1: Includes shares acquired in exempt transactions under ALLETE's employee stock purchase plan, the dividend reinvestment feature of ALLETE's stock purchase and dividend reinvestment plan, and the dividend equivalent feature of restricted stock grants pursuant to ALLETE's executive long-term incentive compensation plan, all based on plan information available as of July 31, 2015

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $50.70-$50.76, inclusive. The reporting person undertakes to provide to ALLETE, any security holder of ALLETE, or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range provided above.

F3: 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, 2015.

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