COMTECH TELECOMMUNICATIONS CORP /DE/ — Director's Dealing 2008

Jun 26, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMTECH TELECOMMUNICATIONS CORP /DE/ (CMTL)
CIK: 0000023197
Period of Report: 2008-06-24

Reporting Person: ROUSE ROBERT G (Exec. Vice President & COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-06-24	Common Stock Par Value $.10 per share	M	18000	$3.58	Acquired	29250	Direct
2008-06-24	Common Stock Par Value $.10 per share	M	12000	$11.67	Acquired	41250	Direct
2008-06-24	Common Stock Par Value $.10 per share	M	35500	$13.19	Acquired	76750	Direct
2008-06-24	Common Stock Par Value $.10 per share	M	22500	$35.90	Acquired	99250	Direct
2008-06-24	Common Stock Par Value $.10 per share	M	12500	$26.90	Acquired	111750	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	2600	$48.75	Disposed	109150	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	200	$48.77	Disposed	108950	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	6100	$48.80	Disposed	102850	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	800	$48.81	Disposed	102050	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	300	$48.82	Disposed	101750	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	5000	$48.83	Disposed	96750	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	1400	$48.85	Disposed	95350	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	5700	$48.86	Disposed	89650	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	20495	$48.87	Disposed	69155	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	2300	$48.88	Disposed	66855	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	1300	$48.89	Disposed	65555	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	4800	$48.90	Disposed	60755	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	200	$48.91	Disposed	60555	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	5000	$48.92	Disposed	55555	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	800	$48.95	Disposed	54755	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	45657	$49.00	Disposed	9098	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	2800	$49.01	Disposed	6298	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	898	$49.02	Disposed	5400	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	100	$49.03	Disposed	5300	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	500	$49.05	Disposed	4800	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	2100	$49.09	Disposed	2700	Direct
2008-06-24	Common Stock Par Value $.10 per share	S	2700	$49.25	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-06-24	Stock Option (Right to Buy)	$3.58	M	18000	Disposed	2012-08-06	Common stock par value $.10 per share (18000)	Direct
2008-06-24	Stock Option (Right to Buy)	$11.67	M	12000	Disposed	2013-08-04	Common stock par value $.10 per share (12000)	Direct
2008-06-24	Stock Option (Right to Buy)	$13.19	M	35500	Disposed	2014-08-02	Common stock par value $.10 per share (35500)	Direct
2008-06-24	Stock Option (Right to Buy)	$35.90	M	22500	Disposed	2010-08-02	Common stock par value $.10 per share (22500)	Direct
2008-06-24	Stock Option (Right to Buy)	$26.90	M	12500	Disposed	2011-08-01	Common stock par value $.10 per share (12500)	Direct

Footnotes

F1: Exercise of previously granted stock option.

F2: On April 28, 2008, the Company announced that Mr. Rouse will be stepping down as Comtech's Executive Vice President and Chief Operating Officer, effective August 29, 2008.