X0306 4 2014-10-30 0000739608 PENFORD CORP PENX 0001187322 CORDIER STEVEN O C/O PENFORD CORPORATION 7094 S. REVERE PARKWAY CENTENNIAL CO 80112-3932 1 Sr VP & CFO Common Stock 2014-10-30 4 M 0 30000.0000 16.3400 A 78357.0000 D Common Stock 2014-10-30 4 F 0 27330.0000 18.8000 D 51027.0000 D NQ Stock Option (Right to Buy) 16.3400 2014-10-30 4 M 0 30000.0000 0.0000 D 2005-11-03 2014-11-03 Common Stock 30000.0000 0.0000 D Stock option was exercised in light of approaching expiration date. Mr. Cordier increased his stock ownership from 48,357 shares to 51,027 shares in connection with the option exercise. As part of the option exercise, shares were withheld to satisfy the option exercise price and the minimum tax withholding obligations. The option becomes exercisable in four equal installments beginning on the first anniversary from date of grant; the first anniversary date is indicated above as the Date Exercisable. Margaret Von der Schmidt as Attorney-in-Fact 2014-11-03