X0202 4 2007-01-11 0 0000934749 MEADOW VALLEY CORP MVCO 0001215817 COWAN CHARLES E 4602 E. THOMAS ROAD PHOENIX AZ 85018 1 0 0 0 Exercise of options to purchase common stock 2007-01-11 2007-01-11 4 M 0 4000 1.46 A 4000 D Common stock 2007-01-11 2007-01-11 4 S 0 100 11.04 D 3900 D Common stock 2007-01-11 2007-01-11 4 S 0 100 11.00 D 3800 D Common stock 2007-01-11 2007-01-11 4 S 0 200 10.94 D 3600 D Common stock 2007-01-11 2007-01-11 4 S 0 81 10.93 D 3519 D Common stock 2007-01-11 2007-01-11 4 S 0 400 10.91 D 3119 D Common stock 2007-01-11 2007-01-11 4 S 0 100 10.89 D 3019 D Common stock 2007-01-11 2007-01-11 4 S 0 92 10.83 D 2927 D Common stock 2007-01-11 2007-01-11 4 S 0 208 10.82 D 2719 D Common stock 2007-01-11 2007-01-11 4 S 0 289 10.81 D 2430 D Common stock 2007-01-11 2007-01-11 4 S 0 718 10.80 D 1712 D Common stock 2007-01-11 2007-01-11 4 S 0 282 10.79 D 1430 D Common stock 2007-01-11 2007-01-11 4 S 0 200 10.78 D 1230 D Common stock 2007-01-11 2007-01-11 4 S 0 430 10.77 D 800 D Common stock 2007-01-11 2007-01-11 4 S 0 193 10.76 D 607 D Common stock 2007-01-11 2007-01-11 4 S 0 607 10.75 D 0 D Exercise of options to purchase common stock 1.46 2007-01-11 2007-01-11 4 M 0 4000 1.46 D 2013-11-19 Common stock 4000 21000 D On November 19, 2003, reporting person was granted 15,000 options to purchase common stock. The options vest in three equal installments of 5,000 options each year on November 19, 2004, 2005 and 2006 respectively. /s/David D. Doty, Attorney-in-fact 2007-11-12