GRIFFON CORP — Director's Dealing 2003

Nov 12, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRIFFON CORP (GFF)
CIK: 0000050725
Period of Report: 2003-11-11

Reporting Person: ALESIA PATRICK (Vice President & Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-11-11	Common Stock, Par Value $.25 per share	M	11000	$6.81	Acquired	40295	Direct
2003-11-11	Common Stock, Par Value $.25 per share	M	11000	$7.61	Acquired	51295	Direct
2003-11-11	Common Stock, Par Value $.25 per share	M	44000	$6.65	Acquired	95295	Direct
2003-11-11	Common Stock, Par Value $.25 per share	F	38078	$19.87	Disposed	57217	Direct
2003-11-11	Common Stock, Par Value $.25 per share	S	1800	$19.94	Disposed	55417	Direct
2003-11-11	Common Stock, Par Value $.25 per share	S	4600	$19.96	Disposed	50817	Direct
2003-11-11	Common Stock, Par Value $.25 per share	S	12000	$19.90	Disposed	38817	Direct
2003-11-11	Common Stock, Par Value $.25 per share	S	900	$20.00	Disposed	37917	Direct
2003-11-11	Common Stock, Par Value $.25 per share	S	2000	$20.02	Disposed	35917	Direct
2003-11-12	Common Stock, Par Value $.25 per share	S	4622	$20.20	Disposed	31295	Direct
2003-11-12	Common Stock, Par Value $.25 per share	S	2000	$20.07	Disposed	29295	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-11-11	1995 Stock Option Plan	$6.81	M	11000	Disposed	2004-11-08	Common Stock (11000)	Direct
2003-11-11	1995 Stock Option Plan	$7.61	M	11000	Disposed	2005-11-07	Common Stock (11000)	Direct
2003-11-11	1998 Employee & Director Stock Option Plan	$6.65	M	44000	Disposed	2009-11-11	Common Stock (44000)	Direct

Footnotes

F1: Does not include options to purchase 16,500 shares granted under the 1997 Stock Option Plan and options to purchase 25,000 shares granted under the 2001 Stock Option Plan.