BALCHEM CORP — Director's Dealing 2006

Feb 24, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BALCHEM CORP (BCP)
CIK: 0000009326
Period of Report: 2006-02-22

Reporting Person: MITCHELL KENNETH P (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-02-22	Common Stock	M	1752	$8.4	Acquired	4252	Direct
2006-02-22	Common Stock	S	700	$21.79	Disposed	3552	Direct
2006-02-22	Common Stock	S	900	$21.80	Disposed	2652	Direct
2006-02-22	Common Stock	S	152	$21.95	Disposed	2500	Direct
2006-02-22	Common Stock	M	7000	$8.40	Acquired	9500	Direct
2006-02-22	Common Stock	S	3000	$21.5	Disposed	6500	Direct
2006-02-22	Common Stock	S	2500	$22.10	Disposed	4000	Direct
2006-02-22	Common Stock	S	1400	$22.18	Disposed	2600	Direct
2006-02-22	Common Stock	S	100	$22.18	Disposed	2500	Direct
2006-02-23	Common Stock	M	4500	$8.40	Disposed	7000	Direct
2006-02-23	Common Stock	S	1800	$21.87	Disposed	5200	Direct
2006-02-23	Common Stock	S	1452	$22.02	Disposed	3748	Direct
2006-02-23	Common Stock	S	100	$21.87	Disposed	3648	Direct
2006-02-23	Common Stock	S	600	$21.87	Disposed	3048	Direct
2006-02-23	Common Stock	S	500	$22.23	Disposed	2548	Direct
2006-02-23	Common Stock	S	48	$21.87	Disposed	2500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-02-22	Non-Qualified Stock Option	$8.4	M	1752	Disposed	2013-02-17	Common Stock (1752)	Direct
2006-02-22	Non-Qualified Stock Option	$8.4	M	7000	Disposed	2013-02-17	Common Stock (7000)	Direct
2006-02-23	Non-Qualified Stock Option	$8.4	M	4500	Disposed	2013-02-17	Common Stock (4500)	Direct