SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
PETTY R WILLIAM

(Last) (First) (Middle)
6717 NW 48TH LANE

(Street)
GAINESVILLE 32653

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
EXACTECH INC [ EXAC ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
CEO and Chairman
3. Date of Earliest Transaction (Month/Day/Year)
05/23/2008
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 3,664,498 I by Partnership
Common Stock 05/23/2008 M 550 A $9.41 32,950 D
Common Stock 05/23/2008 D 550 D(5) $26 32,400 D
Common Stock 05/27/2008 M 100 A $9.41 32,500 D
Common Stock 05/27/2008 D 100 D(5) $26 32,400 D
Common Stock 05/23/2008 M 550 A $9.41 33,950 I by Spouse
Common Stock 05/23/2008 D 550 D(6) $26 33,400 I by Spouse
Common Stock 05/27/2008 M 100 A $9.41 33,500 I by Spouse
Common Stock 05/27/2008 D 100 D(6) $26 33,400 I by Spouse
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy) $6.41 02/04/2000(1) 02/04/2010 Common Stock 7,000 7,000 D
Non-Qualified Stock Option (right to buy) $9.41 05/23/2008 M 650 06/01/2001(1) 12/11/2010 Common Stock 650(5) $9.41 99,350 D
Non-Qualified Stock Option (right to buy) $8.63 04/20/2001(1) 04/20/2011 Common Stock 7,000 7,000 D
Non-Qualified Stock Option (right to buy) $14.46 11/30/2005(1) 05/02/2013 Common Stock 15,000 15,000 D
Non-Qualified Stock Option (right to buy) $18.6 11/30/2005(1) 05/17/2014 Common Stock 30,000 30,000 D
Non-Qualified Stock Option (right to buy) $13.4 11/30/2005(1) 05/31/2015 Common Stock 20,000 20,000 D
Non-Qualified Stock Option (right to buy) $6.41 02/04/2000(1) 02/04/2010 Common Stock 7,000 7,000 I by Spouse(2)
Non-Qualified Stock Option (right to buy) $9.41 05/23/2008 M 650 06/01/2001(1) 12/11/2010 Common Stock 650(6) $9.41 39,350 I by Spouse(2)
Non-Qualified Stock Option (right to buy) $8.63 04/20/2001(1) 04/20/2011 Common Stock 7,000 7,000 I by Spouse(2)
Non-Qualified Stock Option (right to buy) $14.46 11/30/2005(1) 05/02/2013 Common Stock 10,000 10,000 I by Spouse(2)
Non-Qualified Stock Option (right to buy) $18.6 11/30/2005(1) 05/17/2014 Common Stock 15,000 15,000 I by Spouse(2)
Non-Qualified Stock Option (right to buy) $14.12 11/30/2005(1) 05/09/2015 Common Stock 30,000 30,000 I by Spouse(2)
Non-Qualified Stock Option (right to buy) $14.27 12/18/2011(3) 12/18/2016 Common Stock 5,000 5,000 D
Non-Qualified Stock Option (right to buy) $14.27 12/18/2011(3) 12/18/2016 Common Stock 5,000 5,000 I by Spouse(2)
Non-Qualified Option (right to buy) $19.93 11/29/2010(4) 11/29/2012 Common Stock 10,000 10,000 D
Non-Qualified Option (right to buy) $19.93 11/29/2010(4) 11/29/2012 Common Stock 10,000 10,000 I by Spouse(2)
Explanation of Responses:
1. Such options are currently exercisable.
2. Such options were granted to Dr. Petty's spouse, Betty A. Petty, Vice President, Administration and Human Resources, of the Issuer.
3. Such options are currently exercisable as regards 1,000 of the covered shares. The remaining options are exercisable, as regards 1,000 of the covered shares, on the second anniversary of the date of grant, as regards 1,000 of the covered shares, on the third anniversary of the date of grant, as regards 1,000 of the covered shares on the fourth anniversary of the date of grant, and as regards 1,000 of the covered shares, on the fifth anniversary of the date of grant.
4. Such options are exercisable as regards 4,000 of the covered shares, on the date of grant, as regards 2,000 of the covered shares, on the first anniversary of the date of grant, as regards 2,000 of the covered shares, on the second anniversary of the date of grant, and as regards 2,000 of the covered shares, on the third anniversary of the date of grant.
5. Such shares were disposed of pursuant to a 10b5-1 plan to exercise and sell 20,000 options of the Issuer's common stock at a minimum price of $26.00 per share, dated May 15, 2008.
6. Such shares were disposed of pursuant to a 10b5-1 plan to exercise and sell 5,000 options of the Issuer's common stock at a minimum price of $26.00 per share, dated May 15, 2008.
William Petty 05/28/2008
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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