DOUGLAS DYNAMICS, INC — Director's Dealing 2010

May 6, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DOUGLAS DYNAMICS, INC (PLOW)
CIK: 0001287213
Period of Report: 2010-05-04

Reporting Person: Janik James L (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-05-04	Common Stock	A	106147	—	Acquired	148018	Direct

Footnotes

F1: Represents shares of restricted stock granted immediately prior to the effectiveness of the Issuer's Registration Statement on Form 8-A. The restricted stock vests in five equal annual installments.

F2: Granted as compensation for services.

F3: The aggregate shareholding reported includes 41,871 deferred stock units which will convert into shares of the Issuer's Common Stock on the expiration of the lock-up agreement Mr. Janik entered into in connection with the Issuer's initial public offering of Common Stock.