SEC Form 5
FORM 5 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
  
 Form 3 Holdings Reported.
X
 Form 4 Transactions Reported.
1. Name and Address of Reporting Person*
Schmidt William G
(Last) (First) (Middle)
525 GREAT RD
(Street)
LITTLETON MA 01460
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
DOVER SADDLERY INC [ DOVR ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Operating Officer
3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2010
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Amount (A) or (D) Price
Common Stock 4,132(1) D
Common Stock 06/03/2010(2) 06/03/2010 P4 10,542 A $1.56 17,318(3) D
Common Stock 06/03/2010(2) 06/03/2010 P4 2,644 A $1.24 17,318(3) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Incentive Stock Option $10 12/30/2005 11/16/2015 Common Stock 15,725 73,476(4) D
Incentive Stock Option $7.5 (5) 10/25/2016 Common Stock 15,725 73,476(6) D
Incentive Stock Option $4.5 (7) 11/13/2017 Common Stock 15,725 73,476(8) D
Incentive Stock Option $1.24 (9) 11/20/2018 Common Stock 10,576(10) 73,476(11) D
Incentive Stock Option $1.56 06/03/2010(2) 06/03/2010 4C 10,542 (12) 05/01/2012 Common Stock 10,542 (13) 73,476 D
Incentive Stock Option $1.24 06/03/2010(2) 06/03/2010 4C 2,644 (14) 11/20/2018 Common Stock 2,644 (15) 73,476 D
Incentive Stock Option $3.1 11/17/2010(2) 4A 15,725 (16) 11/16/2020 Common Stock 15,725 (17) 73,476(18) D
Explanation of Responses:
1. As of 12/31/2009.
2. This transaction has been previously reported on a Form 4 filed in a timely manner.
3. As of 12/31/2010. Reflects total shares of common stock held by this reporting person, after exercising Incentive Stock Options to purchase a total of 13,186 shares of Common Stock, as reported in Table II.
4. As of 12/31/2010, total includes 15, 725 Incentive Stock Options as granted in 2005
5. Granted on 10/26/2006 and vest on anniversary date of grant at rate 20 % per year for five years.
6. As of 12/31/2010, total includes 15, 725 Incentive Stock Options as granted in 2006.
7. Granted on 11/14/2007 and vest on anniversary date of grant at rate 20 % per year for five years.
8. As of 12/31/2010, total includes 15, 725 Incentive Stock Options as granted in 2007.
9. Granted on 11/21/2008 and vest on anniversary date of grant at rate 20 % per year for five years
10. A total of 13,200 Incentive Stock option were granted in 2008; of this award 2,644 vested option have been purchased by the reporting person.
11. As of 12/31/2010, total includes 10,576 Incentive Stock Options as granted in 2008.
12. Immediately
13. Price at time of exercise was $1.56.
14. 13,220 Incentive Stock Options were granted on 11/21/2008 and vest on anniversary date of grant at rate 20 % per year for five years.
15. Price at time of exercise was $1.24.
16. Granted on 11/17/2010 and vest on anniversary date of grant at rate 20 % per year for five years.
17. When exercisable price will be $ 3.10.
18. As of 12/31/2010, total includes 15, 725 Incentive Stock Options as granted in 2010.
Remarks:
All transactions reported on this Form 5 have been previously reported on Forms 3 and 4 in a timely manner.
William G. Schmidt 02/14/2011
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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