Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF 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 *
  Graskewicz Kerry D
2. Date of Event Requiring Statement (Month/Day/Year)
02/08/2008
3. Issuer Name and Ticker or Trading Symbol
GANDER MOUNTAIN CO [GMTN]
(Last)
(First)
(Middle)
180 EAST FIFTH STREET, SUITE 1300
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Sr. VP of Inventory Mgmt.
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

ST. PAUL, MN 55101
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 Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Options (right to buy) 11/30/2005 10/16/2015 Common Stock 10,940 $ 9.14 D  
Options (right to buy) 11/30/2005 10/16/2015 Common Stock 9,060 $ 9.14 D  
Options (right to buy)   (1) 11/29/2015 Common Stock 5,000 $ 5.69 D  
Options (right to buy)   (2) 07/17/2017 Common Stock 5,000 $ 11.37 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Graskewicz Kerry D
180 EAST FIFTH STREET, SUITE 1300
ST. PAUL, MN 55101
      Sr. VP of Inventory Mgmt.  

Signatures

/s/ Steven Y. Reeves for Kerry D. Graskewicz 02/18/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(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) The option becomes exercisable in 3 installments. 1650 shares vested on 1/15/2007 and 1/15/2008, and 1700 shares will vest on 1/15/2009.
(2) The option becomes exercisable in 4 equal annual installments beginning on 7/17/2008.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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