X0101 4 2003-07-01 0 0000042888 GRACO INC GGG 0001190813 MORFITT MARTHA A M 1 0 0 0 Phantom Stock Units 0 2003-07-01 4 A 0 199.5 0 A 1988-08-08 1988-08-08 Common Stock 199.5 199.5 D Dividends of 16.708 on the accrued phantom stock units were credited on May 7, 2003 under the Graco Inc. Nonemployee Director Stock Plan and are to be settled 100% in Graco common stock in a lump sum or installments upon reporting person's termination of service on the Board. Number of phantom stock units beneficially owned following reported transaction is 6,375.858. The phantom stock units were accrued under the Graco Inc. Nonemployee Director Stock Plan and are to be settled 100% in Graco common stock in a lump sum or installments upon reporting person's termination of service on the Board. By: Kristen C. Nelson For: Martha A.M. Morfitt 2003-07-02