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* 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, President, and Chairman
	3. Date of Earliest Transaction (Month/Day/Year) 03/03/2004
	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	03/03/2004		S		12,500	D	$17	3,745,998	I	by Partnership
Common Stock								11,240	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							06/01/2001(1)	12/11/2010	Common Stock	100,000		100,000	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							05/02/2008(2)	05/02/2013	Common Stock	15,000		15,000	D
Incentive Stock Option (right to buy)	$5.85							04/22/2000(1)	04/22/2004	Common Stock	22,160		22,160	I	by Spouse(3)
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(3)
Non-Qualified Stock Option (right to buy)	$9.41							06/01/2001(1)	12/11/2010	Common Stock	40,000		40,000	I	by Spouse(3)
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(3)
Non-Qualified Stock Option (right to buy)	$14.46							05/02/2008(4)	05/02/2013	Common Stock	10,000		10,000	I	by Spouse(3)
Incentive Stock Option (right to buy)	$5.85							04/22/2003(1)	04/22/2004	Common Stock	32,400		32,400	D

Explanation of Responses:

1. Such options are currently exercisable.

2. Such options are exercisable as regards 3,000 of the covered shares, on the first anniversary of the date of grant, as regards 3,000 of the covered shares, on the second anniversary of the date of grant, as regards 3,000 of the covered shares, on the third anniversary of the date of grant, as regards 3,000 of the covered shares on the fourth anniversary of the date of grant, and as regards 3,000 of the covered shares, on the fifth anniversary of the date of grant.

3. Such options were granted to Dr. Petty's spouse, Betty A. Petty, Vice President, Administration and Human Resources, of the Issuer.

4. Such options are exercisable 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, as regards 2,000 of the covered shares, on the third anniversary of the date of grant, as regards 2,000 of the covered shares on the fourth anniversary of the date of grant, and as regards 2,000 of the covered shares, on the fifth anniversary of the date of grant.

	William Petty	03/05/2004
	** 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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