DOUGLAS DYNAMICS, INC — Director's Dealing 2010

May 12, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DOUGLAS DYNAMICS, INC (PLOW)
CIK: 0001287213
Period of Report: 2010-05-10

Reporting Person: TRUSTEES OF GENERAL ELECTRIC PENSION TRUST (10% Owner)
Reporting Person: G E ASSET MANAGEMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-05-10	COMMON STOCK	S	509335	$10.49	Disposed	1687540	Direct

Footnotes

F1: Sold as part of the initial public offering of the issuer's common stock, as described in the prospectus dated May 4, 2010 (File No. 333-164590).

F2: Consists of shares held directly by General Electric Pension Trust ("GEPT") as to which it has 100% pecuniary interest. GE Asset Management Incorporated ("GEAM") is the investment manager of GEPT. GEAM shares voting and dispositive power over the shares herein reported and may be deemed to be the beneficial owner of such shares for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended. GEAM has no pecuniary interest in such shares and reports no shares owned.