EASTERN CO — Director's Dealing 2010

Dec 1, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EASTERN CO (EML)
CIK: 0000031107
Period of Report: 2010-11-29

Reporting Person: SULLIVAN JOHN L III (Vice President & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-11-29	Common Stock	S	76	$18.0101	Disposed	34534	Direct
2010-11-29	Common Stock	S	3924	$18.00	Disposed	30610	Direct
2010-12-01	Common Stock	M	7500	$9.60	Acquired	38110	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-12-01	Qualified employee stock option	$9.60	M	7500	Disposed	2011-04-26	Common Stock (15500)	Direct

Footnotes

F1: On November 29, 2010, 76 shares sold on the open market for $18.0101 per share.

F2: On November 29, 2010, 3,924 shares sold on the open market for $18.00 per share.

F3: 7,500 shares were exercised on December 1, 2010 at $9.60 per share by Mr. Sullivan. The original 4/26/2001 option was for 15,000 shares at $14.40 per share. 5,800 shares were vested on 1/1/2004; 6,944 shares were vested on 1/1/2005; and the remaining 2,256 shares were vested on 1/1/2006. As a result of a 3-for-2 stock split effective 10/18/2006 this option is now for 22,500 shares at $9.60 per share.

F4: The original 4/26/2001 option was for 15,000 shares at $14.40 per share. 5,800 shares were vested on 1/1/2004; 6,944 shares were vested on 1/1/2005; and the remaining 2,256 shares were vested on 1/1/2006. As a result of a 3-for-2 stock split effective 10/18/2006 this option is now for 22,500 shares at $9.60 per share. On October 28, 2010 1,000 shares were exercised, on November 4, 2010 2,000 shares were exercised, on November 9, 2010 4,000 shares were exercised and on December 1, 2010 7,500 shares were exercised at $9.60 per share, leaving a balance of 8,000 shares.