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

Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2017




		Weighted		Weighted
		Average		Average
		Grant		Remaining
		Date		Contractual
	Shares	Fair value		Term

Unvested at December 31, 2014	81,623		15.05	1.09	years
Granted	116,141		18.72	0.40	years
Vested	(147,217)		16.51
Cancelled and forfeited	(1,882)		15.82
Unvested at December 31, 2015	48,665		17.33	1.00	years
Granted	131,765		21.37	0.35	years
Vested	(132,640)		20.27
Cancelled and forfeited	—		—
Unvested at December 31, 2016	47,790		20.31	0.96	years
Granted	128,893		24.31	0.31	years
Vested	(128,697)		22.93
Cancelled and forfeited	(444)		33.60

Unvested at December 31, 2017	47,542	$	23.95	0.84	years

Expected to vest in the future at December 31, 2017	45,830	$	23.95	0.84	years