Clearfield, Inc. — Director's Dealing 2008

Nov 5, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Clearfield, Inc. (CLFD)
CIK: 0000796505
Period of Report: 2008-10-30

Reporting Person: Blackey Bruce G. (Chief Financial Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-10-30	Options to Purchase Common Shares	$1.03	A	40000	Acquired	2016-10-30	Common Shares (40000)	Direct

Footnotes

F1: The stock options were issued under the 2007 Cleafield Stock Option Plan , as amended. Pursuant to their terms options become exercisable at the rate of 33% per year commencing on October 30, 2009.

F2: Not Applicable