BAXTER INTERNATIONAL INC — Director's Dealing 2014

May 5, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BAXTER INTERNATIONAL INC (BAX)
CIK: 0000010456
Period of Report: 2014-05-02

Reporting Person: Shapazian Carole J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-02	Common Stock, $1 par value	M	5680	$49.73	Acquired	10826	Direct
2014-05-02	Common Stock, $1 par value	S	5680	$75.28	Disposed	5146	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-02	Stock Option (Right to Buy)	$49.73	M	5680	Acquired	2019-05-05	Common Stock, $1 par value (5680)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $1 par value	6120	Indirect

Footnotes

F1: All shares sold at $75.28.