DOUGLAS DYNAMICS, INC — Director's Dealing 2023

May 10, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DOUGLAS DYNAMICS, INC (PLOW)
CIK: 0001287213
Period of Report: 2023-05-08

Reporting Person: Janik James L (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-05-08	Common Stock	P	506	$26.9217	Acquired	111368	Indirect
2023-05-09	Common Stock	P	2565	$26.99	Acquired	113933	Indirect
2023-05-10	Common Stock	P	6929	$26.99	Acquired	120862	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	9880	Direct

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $26.905 to $26.930. 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.

F2: The amount of securities beneficially owned following the reported transaction reflects the reporting person's indirect ownership of the reported number of shares through the James L. and Susan S. Janik Revocable Trust, as well as a reconciling adjustment of one share and a fraction. The shares held through the trust were transferred from direct ownership by the reporting person to the trust in exempt transactions.