Clearfield, Inc. — Director's Dealing 2015

Feb 18, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Clearfield, Inc. (CLFD)
CIK: 0000796505
Period of Report: 2015-02-18

Reporting Person: HERZOG DANIEL R (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-02-18	Common Stock	M	5000	$2.58	Acquired	54233	Direct
2015-02-18	Common Stock	M	15000	$3.3	Acquired	69233	Direct
2015-02-18	Common Stock	F	3713	$13.33	Disposed	65520	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-02-18	Employee Stock Option (Right to Buy)	$2.58	M	5000	Disposed	2020-08-19	Common Stock (5000)	Direct
2015-02-18	Employee Stock Option (Right to Buy)	$3.3	M	15000	Disposed	2016-11-20	Common Stock (15000)	Direct

Footnotes

F1: The stock option exercised vested in 25% increments beginning 8/19/2011 through 8/19/2014.

F2: The stock option exercised vested in 33% increments beginning 11/20/2010 through 11/20/2012.