ESCALADE INC — Director's Dealing 2006

Apr 26, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ESCALADE INC (ESCA)
CIK: 0000033488
Period of Report: 2006-04-24

Reporting Person: Williams Edward E (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-04-24	Common Stock	A	2161	$13.88	Acquired	12644	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-04-24	Non-qualified Stock Option	$11.26	A	1080	Acquired	2011-04-24	Common Stock (1080)	Direct
2006-04-24	Non-Qualified Stock Option	$11.26	A	2000	Acquired	2011-04-24	Common Stock (2000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	37038	Indirect
Common Stock	337302	Indirect

Footnotes

F1: Shares awarded as director compensation in lieu of cash pursuant to the 1977 Directors Stock Compensation and Option Plan.

F2: Options granted pursuant to the 1997 Directors Stock Compensation and Option Plan. These options vest and are exercisable one year after grant at $11.26 per share; and expire five years from date of grant.

F3: Options granted to independent directors pursuant to a shareholder vote on April 22, 2006. Options vest one year from date of grant, expire 5 years from date of grant, and are exercisable at $11.26 per share.

F4: Mr. Edward Williams owns 33% of the outstanding shares of Good Earth Tools, Inc. and is an executive officer of same.

F5: Mr. Edward Williams is a general partner of KPW Family Limited Partnership.