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

Note 13 - Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

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

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
Granted		155,695			36.83		1.70
Vested		(79,592	)		44.47
Cancelled and forfeited		(4,144	)		38.74

Unvested at December 31, 2023		183,223		$	36.54		1.72

Expected to vest in the future at December 31, 2023		178,275		$	36.54		1.72