METHODE ELECTRONICS INC — Director's Dealing 2004

Mar 16, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: METHODE ELECTRONICS INC (METH)
CIK: 0000065270
Period of Report: 2003-08-22

Reporting Person: DUDA DONALD W (Director, President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-08-22	Options to purchase	$10.50	D	100000	Disposed	2012-06-10	Common stock (100000)	Direct
2003-08-22	Options to purchase	$11.44	D	150000	Disposed	2013-07-03	Common stock (150000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common stock	500	Direct
Common stock	2044	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Options to purchase	$17.658	2010-03-13	Common stock (29413)	29413	Direct
Options to purchase	$6.35	2011-05-04	Common stock (100000)	100000	Direct

Footnotes

F1: The options vest in four equal annual installments beginning June 10, 2003.

F2: The options vest in four equal annual installments beginning July 3, 2004.

F3: In June 2002 and July 2003, Methode granted Mr. Duda stock option awards for 200,000 shares and 250,000 shares, respectively, of common stock under Methode's 2000 Stock Plan. Due to annual award volume limitations contained in the 2000 Stock Plan, each of these stock option awards are void to the extent that the number of shares granted exceeds 100,000 shares of common stock. Accordingly, each of these grants was reduced to 100,000 shares of common stock and the Company entered into the August 22, 2003 Cash Bonus Agreement with Mr. Duda (filed as an exhibit with the Company's Form 10-K/A for the year ended April 30, 2003).