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 Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * BOUR ANTHONY W   2. Issuer Name and Ticker or Trading Symbol RAVEN INDUSTRIES INC [RAVN] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) PO BOX 5107 3. Date of Earliest Transaction (Month/Day/Year) 05/22/2012 (Street) SIOUX FALLS, SD 57117 4. If Amendment, Date 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 (City) (State) (Zip) 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 02/12/2012   G   10,100 (4) D $ 0 23,851 I By GRATS Common Stock 02/12/2012   G   10,100 (4) D $ 0 31,270 I Co-Trustee

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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 Underlying Securities (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

Deferred Stock Units

(1)

05/22/2012

A

909.78 (1)

(2)

(2)

Common Stock

909.78 (1)

$ 0

8,543.736 (1) (3)

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
BOUR ANTHONY W PO BOX 5107 SIOUX FALLS, SD 57117	X

Signatures

/s/ Anthony W Bour		05/23/2012
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	Each Deferred Stock Unit is the economic equivalent of one share of RAVN Common Stock.
(2)	As permitted under the Issuer's Deferred Stock Compensation Plan for Directors, the Reporting Person has elected to defer receipt of the common stock underlying these Units until 12 months after his retirement from the board.
(3)	Total reflects units credited as follows: Dividends 27.149 on 4/25/12. Deferred Stock Units of 909.780 on 5/22/12.
(4)	On February 4, 2009, the Reporting Person transferred 55,121 shares to a grantor retained annuity trust (GRAT) for the benefit of the Reporting Person and his adult children. The reporting person has formed a total of 4 GRAT's each with a two-year time frame. On February 4, 2011, GRAT 1 terminated and 21,170 shares were transferred to the Reporting Person's adult children. On February 22, 2012, GRAT 2 terminated and 10,100 shares were transferred into irrevocable trusts for the Reporting Person's adult children. The Reporting Person is a co-trustee of these trusts. The remaining 23,851 shares are held in GRAT 3 (12,445 shares) and GRAT 4 (11,406 shares) for the benefit of the Reporting Person and his adult children.

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