WD 40 CO — Director's Dealing 2003

Dec 15, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WD 40 CO (WDFC)
CIK: 0000105132
Period of Report: 2003-12-11

Reporting Person: MILNER GRAHAM P (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-11	Incentive Stock Option	M	2800	$20.813	Acquired	8280	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-11	Incentive Stock Option	$20.813	M	2800	Disposed	2010-09-26	Common Stock (2800)	Direct

Footnotes

F1: Transaction pursuant to trading plan adopted pursuant to Rule 10b5-1 under Securities Exchange Act of 1934.

F2: Total includes 1216 shares held in WD-40 Company Profit Sharing Plan (Company Stock Fund) account; estimated number of shares based upon equivalent value of units held.

F3: Incentive Stock Option (ISO) 5000 shares exercisable 01/01/97 at $21.188 exp. 09/25/05; ISO 5000 shares exercisable 01/01/98 at $23.00 exp. 09/23/06; ISO 6000 shares exercisable 01/01/00 at $31.75 exp. 09/22/07; ISO 6000 shares exercisable 01/01/01 at $23.063 exp. 09/29/08; Non Qualified Stock Options (NQSO) 10000 shares exercisable 09/28/00 at $23.50 exp. 09/28/09; NQSO 2104 shares exercisable 09/26/01 at $20.813 exp. 09/26/10; ISO 15096 shares exercisable 09/26/01 at $20.813 exp. 09/26/10; NQSO 5181 shares exercisable 09/25/02 at $20.75 exp. 09/25/11; ISO 4819 shares exercisable 09/25/02 at $20.75 exp. 09/25/11; NQSO 10000 shares (3334 exercisable 09/24/03; 3333 exercisable 09/24/04; 3333 exercisable 09/24/05) at $27.56 exp. 09/24/12; NQSO 10000 shares (3334 exercisable 09/23/04; 3333 exercisable 09/23/05; 3333 exercisable 09/23/06) at $29.30 exp. 09/24/13.