FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

PETTY DAVID W 		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)
Chief Executive Officer
(Last)          (First)          (Middle)

2735 NW 21ST STREET 		3. Date of Earliest Transaction (MM/DD/YYYY)

12/5/2014
(Street)

GAINESVILLE, FL 32605
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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   12/5/2014     S    3500   D $21.63   65753   D    
Common Stock   12/5/2014     M (4)    5000   A $12.68   70753   D    
Common Stock                  448   I   by Spouse  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: 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
Incentive Stock Option (right to buy)   $14.12                    11/30/2005   5/9/2015   Common Stock   25000     25000   D    
Incentive Stock Option (right to buy)   $14.27                    12/18/2011   12/18/2016   Common Stock   5000     5000   D    
Incentive/Non-Qualified Stock Option (right to buy)   $12.68   12/5/2014     M   (4)       5000    2/18/2012   2/18/2015   Common Stock   5000   $12.68   0   D    
Incentive/Non-Qualified Stock Option (right to buy)   $17.02                    2/16/2013   2/16/2016   Common Stock   34000     34000   D    
Incentive/Non-Qualified Stock Option (right to buy)   $18.95                    2/28/2014   2/28/2017   Common Stock   8800     8800   D    
Incentive/Non-Qualified Stock Option (right to buy)   $16.33                    2/22/2017   (1) 2/22/2019   Common Stock   45000     45000   D    
Incentive/Non-Qualified Stock Option (right to buy)   $18.55                    2/25/2018   (2) 2/25/2020   Common Stock   29000     29000   D    
Non-Qualified Stock Option (right to buy)   $20.90                    5/9/2019   (3) 5/9/2021   Common Stock   26300     26300   D    

Explanation of Responses:
( 1)  Such options are currently exercisable as regards 18,000 of the covered shares. The remaining shares are exercisable, as regards 9,000 of the covered shares, on the third anniversary of the date of grant, as regards 9,000 of the covered shares on the fourth anniversary of the date of grant, and as regards 9,000 of the covered shares, on the fifth anniversary of the date of grant.
( 2)  Such options are currently exercisable as regards 5,800 of the covered shares. The remaining shares are exercisable, as regards 5,800 of the covered shares, on the second anniversary of the date of grant, as regards 5,800 of the covered shares, on the third anniversary of the date of grant, as regards 5,800 of the covered shares on the fourth anniversary of the date of grant, and as regards 5,800 of the covered shares, on the fifth anniversary of the date of grant.
( 3)  Such options are exercisable as regards 5,260 of the covered shares, on the first anniversary of the date of grant, as regards 5,260 of the covered shares, on the second anniversary of the date of grant, as regards 5,260 of the covered shares, on the third anniversary of the date of grant, as regards 5,260 of the covered shares on the fourth anniversary of the date of grant, and as regards 5,260 of the covered shares, on the fifth anniversary of the date of grant.
( 4)  Such in-the-money options were exercised by the Reporting Person in lieu of allowing such options to expire by their terms on February 18, 2015.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
PETTY DAVID W
2735 NW 21ST STREET
GAINESVILLE, FL 32605

Chief Executive Officer

Signatures
/s/ David W. Petty 12/9/2014
** 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 control number.
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