ALLETE INC — Director's Dealing 2016

Mar 10, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALLETE INC (ALE)
CIK: 0000066756
Period of Report: 2016-03-09

Reporting Person: AMBERG DEBORAH A (SrVP, Gen. Counsel & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-03-09	Common Stock	M	5531	$48.65	Acquired	15578.53	Direct
2016-03-09	Common Stock	M	9191	$39.10	Acquired	24769.53	Direct
2016-03-09	Common Stock	S	14722	$55.90	Disposed	10047.53	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-03-09	Employee Stock Option - Right to Buy	$48.65	M	5531	Disposed	2017-02-01	Common Stock (5531)	Direct
2016-03-09	Employee Stock Option - Right to Buy	$39.10	M	9191	Disposed	2018-02-01	Common Stock (9191)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	14597.08	Indirect

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $55.72-$56.04, 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.

F2: Includes shares acquired in exempt transactions under ALLETE's retirement savings and stock ownership plan (RSOP) based on RSOP plan information available as of February 29, 2016.

F3: This option vested in three equal installments on the first, second, and third anniversary of the February 1, 2007 grant date.

F4: This option vested in three equal installments on the first, second, and third anniversary of the February 1, 2008 grant date.