Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On March 31, 2009, after reviewing recommendations from the Compensation Committee, the independent members of the Board of Directors approved the following stock option grants for key executives of the Company for 2009:

Officer Title Stock Option Grants

Robert J. Keller President & CEO 125,000

Deborah J. Meinert Vice President Finance, CFO & Secretary 45,000

The stock options were granted pursuant to the Escalade, Incorporated 2007 Incentive Plan. The stock options will vest on March 31, 2012 and will expire on March 31, 2014.