EASTERN CO — Director's Dealing 2010

Nov 9, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EASTERN CO (EML)
CIK: 0000031107
Period of Report: 2010-11-05

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-11-05	Common Stock	S	2000	$19.00	Disposed	30610	Direct
2010-11-09	Common Stock	M	4000	$9.60	Acquired	34610	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-11-09	Qualified employee stock option	$9.60	M	4000	Disposed	2011-04-26	Common Stock (19500)	Direct

Footnotes

F1: On November 5, 2010, 2,000 shares sold on the open market for $19.00 per share.

F2: 4,000 shares were exercised on November 9, 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.

F3: 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 and on November 9, 2010 4,000 shares were exercised at $9.60 per share, leaving a balance of 15,500 shares.