CAPITAL SOUTHWEST CORP — Director's Dealing 2012

May 22, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAPITAL SOUTHWEST CORP (CSWC)
CIK: 0000017313
Period of Report: 2012-05-18

Reporting Person: ASHBAUGH WILLIAM M (Senior VP)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-18	Common Stock	M	4000	$93.49	Acquired	9718	Direct
2012-05-18	Common Stock	M	2000	$76.74	Acquired	11718	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-18	Incentive Stock Option	$93.49	M	4000	Acquired	2016-05-15	Common Stock (4000)	Direct
2012-05-18	Incentive Stock Option	$76.74	M	2000	Acquired	2019-10-19	Common Stock (2000)	Direct

Footnotes

F1: Incentive Stock Option vests annually in five equal installments of 1,000 shares each beginning 5/15/2007.

F2: Incentive Stock Option vests annually in five equal installments of 1,000 shares each beginning 10/19/2010.