DOUGLAS DYNAMICS, INC — Director's Dealing 2012

Jan 4, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DOUGLAS DYNAMICS, INC (PLOW)
CIK: 0001287213
Period of Report: 2012-01-02

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-01-02	Common Stock	A	14949	—	Acquired	251939	Direct
2012-01-04	Common Stock	S	4568	$14.3054	Disposed	247371	Direct

Footnotes

F1: Includes 14,949 shares that will vest in three equal annual installments beginning on January 2, 2013.

F2: The price in Column 4 is a weighted average price. The prices actually received ranged from $14.30 to $14.46. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.