EASTERN CO — Director's Dealing 2004

Feb 10, 2004

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: EASTERN CO (EML)
CIK: 0000031107
Period of Report: 2004-01-03

Reporting Person: SULLIVAN JOHN L III (VP, Sect'y and Treas)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-03	Common Stock	A	122	—	Acquired	2002	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
1997-12-16	Qualified employee stock option	$11.92	A	0	Acquired	2007-12-16	Common Stock (7500)	Direct
1999-07-21	Qualified employee stock option	$18.50	A	0	Acquired	2009-07-21	Common Stock (12500)	Direct
1999-12-15	Non-qualified employee stock option	$15.25	A	0	Acquired	2009-12-15	Common Stock (10000)	Direct
2000-07-19	Qualified employee stock option	$14.25	A	0	Acquired	2010-07-19	Common Stock (20000)	Direct
2001-04-26	Qualified employee stock option	$14.40	A	0	Acquired	2011-04-26	Common Stock (15000)	Direct

Footnotes

F1: 122 shares acquired at various prices during 2003 under The Eastern Company Dividend Investment Plan and The Eastern Company Employee Stock Purchase Plan.

F2: Original 12/16/1997 option was for 5,000 shares at $17.875 per share. As a result of a 3-for-2 stock split effective 5/28/1999 this option is now 7,500 shares at $11.92 per share.

F3: Options to acquire 5,400 shares were vested on date of grant 7/21/1999, options to acquire another 5,400 shares vested on 1/1/2000, and options to acquire the remaining 1,700 shares vested on 1/1/2001.

F4: Options to acquire 4,810 shares vested on 1/1/2001, options to acquire another 7,017 shares vested on 1/1/2002, options to acquire another 7,017 shares vested on 1/1/2003, and options to acquire the remaining 1,156 shares vested on 1/1/2004.

F5: Options to acquire 5,800 shares vested on 1/1/2004, options to acquire another 6,944 shares vest on 1/1/2005, and options to acquire the remaining 2,256 shares vest on 1/1/2006.