Douglas Dynamics, Inc. Annual report pursuant to Section 13 and 15(d)

Note 14 - Employee Stock Plans (Tables)

12 Months Ended

Dec. 31, 2022

				*Weighted*		*Weighted*
				*Average*		*Average*
				*Grant*		*Remaining*
				*Date*		*Contractual*
	*Shares*			*Fair value*		*Term (in years)*

Unvested at December 31, 2019		35,676		$	36.49		1.40
Granted		49,349			49.90		0.80
Vested		(48,112	)		45.49
Cancelled and forfeited		(891	)		49.9
Unvested at December 31, 2020		36,022			42.73		1.40
Granted		134,218			44.48		1.07
Vested		(88,225	)		39.73
Cancelled and forfeited		(2,112	)		44.48
Unvested at December 31, 2021		79,903			48.87		1.91
Granted		117,969			36.70		1.27
Vested		(79,265	)		40.80
Cancelled and forfeited		(7,343	)		46.15

Unvested at December 31, 2022		111,264		$	41.89		1.76

Expected to vest in the future at December 31, 2022		108,242		$	41.89		1.76