ESCALADE INC — Director's Dealing 2012

May 9, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ESCALADE INC (ESCA)
CIK: 0000033488
Period of Report: 2012-05-08

Reporting Person: Williams Edward E (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-08	Common Stock	M	5000	$2.56	Acquired	42828	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-08	Common Stock Option	$2.56	M	5000	Disposed	2015-02-26	Common Stock (5000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	14999	Indirect
Common Stock	37038	Indirect
Common Stock	337302	Indirect

Footnotes

F1: Shares issued pursuant to the exercise of options under the Escalade, Incorporated 2007 Incentive Plan.

F2: Mr. Edward Williams is a general partner of PAW Family Partnership LP.

F3: Mr. Edward Williams owns 33% of the outstanding shares of Good Earth Tools, Inc. and is an executive officer of the same.

F4: Mr. Edward Williams is a general partner of KPW Family Limited Partnership.