SEC FORM 4

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

MILLER GARY J

(Last)

(First)

(Middle)

531 SW 26TH PLACE

(Street)

GAINESVILLE

32601

(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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Executive Vice President, R&D

3. Date of Earliest Transaction (Month/Day/Year)
03/14/2011

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock								392,562	I	by Partnership
Common Stock	03/14/2011		S⁽⁶⁾		1,500	D	$18.68	51,806	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Incentive Stock Option (right to buy)	$8.63							01/01/2002⁽¹⁾	04/20/2011	Common Stock	7,000		7,000	D
Incentive Stock Option (right to buy)	$14.46							11/30/2005⁽¹⁾	05/02/2013	Common Stock	7,500		7,500	D
Incentive Stock Option (right to buy)	$18.6							11/30/2005⁽¹⁾	05/17/2014	Common Stock	7,500		7,500	D
Incentive Stock Option (right to buy)	$14.12							11/30/2005⁽¹⁾	05/09/2015	Common Stock	10,000		10,000	D
Non-Qualified Option (right to buy)	$14.27							12/18/2011⁽²⁾	12/18/2016	Common Stock	5,000		5,000	D
Non-Qualified Option (right to buy)	$19.93							11/29/2010⁽¹⁾	11/29/2012	Common Stock	10,000		10,000	D
Non-Qualified Option (right to buy)	$12.68							02/18/2012⁽³⁾	02/18/2015	Common Stock	5,000		5,000	D
Non-Qualified Option (right to buy)	$17.02							02/16/2013⁽⁴⁾	02/16/2016	Common Stock	16,000		16,000	D
Non-Qualified Option (right to buy)	$18.95							02/28/2014⁽⁵⁾	02/28/2017	Common Stock	2,800		2,800	D

Explanation of Responses:

1. Such options are currently exercisable.

2. Such options are currently exercisable as regards 4,000 of the covered shares. The remaining options are exercisable, as regards 1,000 of the covered shares, on the fifth anniversary of the date of grant.

3. Such options are currently exercisable as regards 3,334 of the covered shares. The remaining options are exercisable, as regards 1,666 of the covered shares, on the third anniversary of the date of grant.

4. Such options are currently exercisable as regards 5,333 of the covered shares. The remaining options are exercisable, as regards 5,333 of the covered shares, on the second anniversary of the date of grant, and as regards 5,334 of the covered shares, on the third anniversary of the date of grant.

5. Such options are exercisable, as regards 933 of the covered shares, on the first anniversary of the date of grant, as regards 933 of the covered shares, on the second anniversary of the date of grant, and as regards 934 of the covered shares, on the third anniversary of the date of grant.

6. Such shares were sold pursuant to a Rule 10b5-1 plan to sell a maximum of 12,500 shares, beginning April 12, 2010, expiring on March 31, 2011.

	Gary J. Miller	03/16/2011
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.