BAXTER INTERNATIONAL INC — Director's Dealing 2007

Mar 16, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BAXTER INTERNATIONAL INC (BAX)
CIK: 0000010456
Period of Report: 2007-03-14

Reporting Person: GREISCH JOHN J (Corporate Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-14	Common Stock, $1 par value	F	2872	$50.74	Disposed	69608	Direct
2007-03-14	Common Stock, $1 par value	F	2651	$50.74	Disposed	66957	Direct
2007-03-15	Common Stock, $1 par value	A	10600	—	Acquired	77557	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-15	Stock Option (Right to Buy)	$51.21	A	88800	Acquired	2017-03-15	Common Stock, $1 par value (88800)	Direct

Footnotes

F1: On March 15, 2007, the reporting person received a grant of 10,600 restricted stock units which will vest in three equal installments beginning on the first anniversary of the grant date.

F2: The option becomes exercisable in three equal annual installments beginning on the first anniversary of the date of grant.