X0101 4 2003-07-23 0 0000042888 GRACO INC GGG 0001190815 SHEAHAN MARK W 0 1 0 0 VICE PRESIDENT AND TREASURER Common Stock 2003-07-23 4 M 0 1968 13.11 A 9093 D Common Stock 2003-07-23 4 M 0 2814 9.55 A 11907 D Common Stock 2003-07-23 4 M 0 2814 13.64 A 14721 D Common Stock 2003-07-23 4 M 0 3750 17.57 A 18471 D Common Stock 2003-07-23 4 M 0 3750 18.57 A 22221 D Common Stock 2003-07-23 4 M 0 1875 27.59 A 24096 D Common Stock 2003-07-23 4 S 0 15271 36 D 8825 D Common Stock 2003-07-23 4 S 0 1400 35.95 D 7425 D Common Stock 2003-07-23 4 S 0 300 35.93 D 7125 D Common Stock 2003-03-31 4 J 0 0.7943 0 A 218.6501 I by ESOP Non-Qualified Stock Option (right to buy) 9.55 2003-07-23 4 M 0 2814 0 D 1988-08-08 2009-02-22 Common Stock 2814 2811 D Non-Qualified Stock Option (right to buy) 13.11 2003-07-23 4 M 0 1968 0 D 1988-08-08 2008-02-27 Common Stock 1968 0 D Non-Qualified Stock Option (right to buy) 13.64 2003-07-23 4 M 0 2814 0 D 1988-08-08 2010-02-23 Common Stock 2814 2811 D Non-Qualified Stock Option (right to buy) 17.57 2003-07-23 4 M 0 3750 0 D 1988-08-08 2011-02-23 Common Stock 3750 3750 D Non-Qualified Stock Option (right to buy) 18.57 2003-07-23 4 M 0 3750 0 D 1988-08-08 2011-04-19 Common Stock 3750 3750 D Non-Qualified Stock Option (right to buy) 27.59 2003-07-23 4 M 0 1875 0 D 1988-08-08 2012-02-22 Common Stock 1875 5625 D Dividends paid pursuant to the Graco Employee Stock Ownership Plan, exempt under Rule 16b-3(c). The reporting person also indirectly beneficially owns 643 shares of Graco common stock through a spouse. Employee stock option granted pursuant to the Graco Inc. Long-Term Stock Incentive Plan in a transaction exempt under Rule 16b-3. The stock option becomes exercisable in four equal annual installments, commencing two years after the date of the grant. Employee stock option granted pursuant to the Graco Inc. Long-Term Stock Incentive Plan in a transaction exempt under Rule 16b-3. The stock option becomes exercisable in four equal annual installments, commencing one year after the date of the grant. Employee stock option granted pursuant to the Graco Inc. Stock Incentive Plan in transaction exempt under Rule 16b-3. The stock option becomes exercisable in four equal annual installments, commencing one year after the date of the grant. By: Kristen C. Nelson For: Mark W. Sheahan 2003-07-24