ELECTRO SENSORS INC — Director's Dealing 2004

Jan 26, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ELECTRO SENSORS INC (ELSE)
CIK: 0000351789
Period of Report: 2004-01-21

Reporting Person: STROM JOHN S (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-21	Common Stock	S	5000	$5.0312	Disposed	0	Direct
2004-01-23	Common Stock	M	6750	$2.67	Disposed	6750	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-23	Stock Option (Right to Buy)	$2.67	M	6750	Disposed	2004-04-28	Common Stock (6750)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$2.58	2008-04-28	Common Stock (3000)	3000	Direct
Stock Option (Right to Buy)	$2.00	2009-04-27	Common Stock (3000)	3000	Direct
Stock Option (Right to Buy)	$2.33	2010-04-25	Common Stock (3000)	3000	Direct
Stock Option (Right to Buy)	$2.89	2011-04-24	Common Stock (3000)	3000	Direct
Stock Option (Right to Buy)	$4.49	2012-04-17	Common Stock (3000)	3000	Direct

Footnotes

F1: Adjusted to reflect correct post-split price.