X0306 4 2017-03-17 0 0001287213 DOUGLAS DYNAMICS, INC PLOW 0001489478 Hagelin Keith C/O DOUGLAS DYNAMICS, INC. 7777 NORTH 73RD STREET MILWAUKEE WI 53223 0 1 0 0 SVP, Operations Common Stock 2017-03-17 4 P 0 3400 29.349 A 82090 D The price in Column 4 is a weighted average price. The prices actually paid ranged from $29.345 to $29.35. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price. /s/ Jon J. Sisulak, Attorney-in-Fact for Keith Hagelin 2018-01-18