WINNEBAGO INDUSTRIES INC — Director's Dealing 2004

Jan 6, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINNEBAGO INDUSTRIES INC (WGO)
CIK: 0000107687
Period of Report: 2004-01-05

Reporting Person: MARTIN ROGER WILLIAM (VP-Sales and Marketing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-05	Common Stock, $.50 par value	M	1668	$12.4375	Acquired	1668	Direct
2004-01-05	Common Stock, $.50 par value	M	750	$21.62	Acquired	2418	Direct
2004-01-05	Common Stock, $.50 par value	M	900	$36.50	Acquired	3318	Direct
2004-01-05	Common Stock, $.50 par value	S	1650	$69.01	Disposed	1668	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-05	Stock Options (rights to buy)	$12.4375	M	1668	Disposed	2010-10-11	Common Stock (1668)	Direct
2004-01-05	Stock Options (rights to buy)	$21.62	M	750	Disposed	2011-10-02	Common Stock (1500)	Direct
2004-01-05	Stock Options (rights to buy)	$36.50	M	900	Disposed	2012-10-08	Common Stock (2700)	Direct

Footnotes

F1: Granted under the Winnebago Industries, Inc. 1997 Stock Option Plan which is a Section 16(b) Plan. All options are currently exercisable.

F2: Granted under the Winnebago Industries, Inc. 1997 Stock Option Plan which is a Section 16(b) Plan. Options become exercisable in annual increments of one-third commencing 10/2/02 with the remaining 750 options exercisable on or after 10/2/04.

F3: Granted under the Winnebago Industries, Inc. 1997 Stock Option Plan which is a Section 16(b) Plan. Options become exercisable in annual increments of one-third commencing 10/8/03 with the remaining 1,800 exercisable one-half on or after 10/8/04 and the remaining one-half on or after 10/8/05.