FRANKLIN ELECTRIC CO INC — Director's Dealing 2007

Feb 12, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FRANKLIN ELECTRIC CO INC (fele)
CIK: 0000038725
Period of Report: 2007-02-09

Reporting Person: Strupp Thomas J (Vice President & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-09	Common Stock	A	2300	$48.87	Acquired	3700	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-09	Common Stock	$48.87	A	3600	Acquired	2017-02-09	Common Stock (3600)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	100	Direct
Common Stock	5000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option	$44.505	2015-07-25	Common Stock (7000)	7000	Direct
Option	$45.9	2016-02-17	Common Stock (3900)	10900	Direct

Footnotes

F1: The shares vest at the end of four years subject to the performance of certain goals. If these goals are not attained, the shares will be forfeited.

F2: The shares vest at the end of five years subject to the performance of certain goals. If these goals are not attained, the shares will be forfeited.

F3: The options become exercisable in four equal installments of 1/4 each year, beginning on the first anniversary of the grant date.