Clearfield, Inc. — Director's Dealing 2011

Sep 30, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Clearfield, Inc. (CLFD)
CIK: 0000796505
Period of Report: 2011-09-29

Reporting Person: ROTH RONALD G (Director, Chairman of the Board)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-09-29	Common Stock	M	2500	$1.03	Acquired	937905	Direct
2011-09-29	Common Stock	M	5000	$0.96	Acquired	942905	Direct
2011-09-29	Common Stock	M	7500	$1.16	Acquired	950405	Direct
2011-09-29	Common Stock	M	1000	$2.87	Acquired	951405	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-09-29	Employee Stock Option (Right to Buy)	$1.03	M	2500	Disposed	2012-08-24	Common Stock (2500)	Direct
2011-09-29	Employee Stock Option (Right to Buy)	$0.96	M	5000	Disposed	2014-08-28	Common Stock (5000)	Direct
2011-09-29	Employee Stock Option (Right to Buy)	$1.16	M	7500	Disposed	2015-02-27	Common Stock (7500)	Direct
2011-09-29	Employee Stock Option (Right to Buy)	$2.87	M	1000	Disposed	2016-02-26	Common Stock (1000)	Direct