BAXTER INTERNATIONAL INC — Director's Dealing 2006

May 11, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BAXTER INTERNATIONAL INC (BAX)
CIK: 0000010456
Period of Report: 2006-05-09

Reporting Person: STALLKAMP THOMAS T (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-05-09	Common Stock, $1 par value	A	1540	—	Acquired	17917	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-05-09	Stock Option (Right to Buy)	$38.93	A	5660	Acquired	2016-05-09	Common Stock, $1 par value (5660)	Direct

Footnotes

F1: The reporting person received a grant of 1540 restricted shares of common stock which vest on the date of the 2007 annual meeting of shareholders.

F2: The date exerciseable is the date of the 2007 annual meeting of shareholders.