DOUGLAS DYNAMICS, INC — Director's Dealing 2011

Jan 5, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DOUGLAS DYNAMICS, INC (PLOW)
CIK: 0001287213
Period of Report: 2011-01-03

Reporting Person: Peiffer Jack O (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-03	Common Stock	A	3893	—	Acquired	5893	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$4.21	2014-04-25	Common Stock (32791)	32791	Direct

Footnotes

F1: Includes 1,374 shares underlying restricted stock units that will vest and be settled in two equal annual installments beginning on January 3, 2012 and 2,061 shares underlying restricted stock units that will vest and be settled in three equal annual installments beginning on January 3, 2012.

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