NORTHERN TECHNOLOGIES INTERNATIONAL CORP — Director's Dealing 2007

Nov 20, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NORTHERN TECHNOLOGIES INTERNATIONAL CORP (NTI)
CIK: 0000875582
Period of Report: 2007-11-16

Reporting Person: WOLSFELD MATTHEW C (CFO and Corporate Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-11-16	Common Stock	A	4742	—	Acquired	25216	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-11-16	Employee Stock Option (right to buy)	$9.95	A	12950	Acquired	2017-11-16	Common Stock (12950)	Direct

Footnotes

F1: Represents a stock bonus under the Northern Technologies International Corporation 2007 Stock Incentive Plan.

F2: Includes 760 shares purchased under the Northern Technologies International Corporation 2007 Employee Stock Purchase Plan.

F3: This option vests with respect to 4,317 shares on each of 11/16/08 and 11/16/09 and with respect to 4,316 shares on 11/16/10.