ESCALADE INC — Director's Dealing 2008

Apr 29, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ESCALADE INC (ESCA)
CIK: 0000033488
Period of Report: 2008-04-25

Reporting Person: Williams Edward E (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-04-25	Restricted Stock Unit	$	A	1250	Acquired		Common Stock (1250)	Direct
2008-04-25	Restricted Stock Unit	$	A	934	Acquired		Common Stock (934)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	15219	Direct
Common Stock	37038	Indirect
Common Stock	337302	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$		Common Stock (4903)	4903	Direct

Footnotes

F1: Mr. Edward Williams owns 33% of the outstanding shares of Good Earth Tools, Inc. and is an executive officer of same.

F2: Mr. Edward Williams is a general partner of KPW Family Limited Partnership.

F3: Each restricted stock unit represents a contingent right to receive one share of ESCA common stock granted pursuant to the Escalade, Incorporated 2007 Incentive Plan.

F4: Each restricted stock unit will vest in one annual installment on April 27, 2009. Vested shares will be delivered to the reporting person at such time unless the reporting person elects to defer receipt.

F5: Restricted stock units issued in lieu of cash for director compensation pursuant to the Escalade, Incorporated 2007 Incentive Plan.

F6: Each restricted stock unit will vest in one annual installment on December 31, 2013. Vested shares will be delivered to the reporting person at such time unless the reporting person elects to defer receipt.

F7: Composed of 1,250 restricted stock units that will vest on April 30, 2008; 1,250 restricted stock units that will vest on April 27, 2009; 2,451 restricted stock units that will vest on December 31, 2012; and 934 restricted stock units that will vest on December 31, 2013.

F8: Outstanding stock options are composed of 536 options that vested on May 2, 2006 with an exercise price of $13.88 per share and an expiration date of April 26, 2009; 3,080 options that vested on April 24, 2007 with an exercise price of $11.26 per share and an expiration date of April 24, 2011; and 1,287 options that will vest on April 30, 2008 with an exercise price of $9.35 per share and an expiration date of April 30, 2012.