X0202 4 2007-06-27 0 0000798736 MANATRON INC (MANA) 0001200899 GEPHART MARY MANATRON INC 510 E MILHAM AVE PORTAGE MI 49002 0 1 0 0 V.P. of Human Resources & Adm. Stock Option (Right to Buy) 6.86 2007-06-27 4 A 0 7500 0 A 2007-06-27 2016-10-04 Common Stock 7500 7500 D On October 5, 2006, the reporting person was granted an option to purchase 50,000 shares of common stock, which was reported on a Form 4 filed with the Commission on October 10, 2006. Up to 50% of the option becomes exercisable, if at all, based on the Company's EBITDA in accordance with the 2006 Manatron, Inc. Executive Stock Incentive Plan (the "Plan"). Up to 50% of the option becomes exercisable, if at all, upon the Company obtaining a certain minimum net revenue and achieving a certain EBITDA per share, in accordance with the Plan. An EBITDA performance criteria for the fiscal year ending April 30, 2007 was met, resulting in vesting of the option as to 7,500 shares. /s/ Stephen C. Waterbury, by power of attorney 2007-08-03