PENTAIR plc — Director's Dealing 2003

Jul 15, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENTAIR INC (PNR)
CIK: 0000077360
Period of Report: 2003-07-14

Reporting Person: MEOZZI AUGUSTO (Director)

Footnotes

F1: Phantom stock units convert into common stock on a one-for-one basis.

F2: Represents phantom stock units credited under a deferred compensation plan for non-employee directors over which the reporting person has no current dispositive or voting power.

F3: Shares acquired under this Plan are purchased over a three-day trading period. The price shown is the average purchase price over the trading period.

F4: Settlement of phantom stock units will be in Pentair common stock in accordance with reporting person's irrevocable election.

F5: Reporting person also holds 200 shares indirectly by spouse. Reporting person disclaims beneficial ownership of securities held indirectly and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.