DOUGLAS DYNAMICS, INC — Director's Dealing 2010

May 4, 2010

SEC Form 3 — Initial Statement of Beneficial Ownership

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

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

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	41871	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$4.21	2014-03-30	Common Stock (429946)		Direct

Footnotes

F1: The number of shares of Common Stock reported reflects a 23.75 for 1 stock split of the Issuer's Common Stock that will become effective immediately prior to the consummation of the Issuer's initial public offering of its Common Stock. The reported shares are in the form of deferred stock units which will convert into shares of the issuer's Common Stock on a one-for-one basis on the expiration of the lock-up agreement Mr. Janik will enter into in connection with this offering.

F2: These options are fully vested and can be exercised at any time.

F3: The number of shares of Common Stock underlying the reported options reflects a 23.75 for 1 stock split of the Issuer's Common Stock that will become effective immediately prior to the consummation of the Issuer's initial public offering of its Common Stock.