PENTAIR plc — Director's Dealing 2004

Nov 1, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENTAIR INC (PNR)
CIK: 0000077360
Period of Report: 2004-10-28

Reporting Person: HAGGERTY CHARLES A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-10-28	Common Stock	M	2550	$20.2188	Acquired	20550	Direct
2004-10-28	Common Stock	M	2550	$19.8125	Acquired	23100	Direct
2004-10-28	Common Stock	M	2600	$18.0938	Acquired	25700	Direct
2004-10-28	Common Stock	M	3900	$11.375	Acquired	29600	Direct
2004-10-28	Common Stock	M	1533	$18.1485	Acquired	31133	Direct
2004-10-28	Common Stock	M	11798	$19.5391	Acquired	42931	Direct
2004-10-28	Common Stock	M	3333	$17.725	Acquired	46264	Direct
2004-10-28	Common Stock	F	13738	$37.18	Disposed	32526	Direct
2004-10-28	Common Stock	G	14526	—	Disposed	18000	Direct
2004-10-28	Common Stock	G	14526	—	Acquired	34926	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-10-28	Nonqualified Stock Option (right to buy)	$11.375	M	3900	Disposed	2011-01-02	Common Stock (3900)	Direct
2004-10-28	Nonqualified Stock Option (right to buy)	$17.725	M	3333	Disposed	2013-02-25	Common Stock (3333)	Direct
2004-10-28	Nonqualified Stock Option (right to buy)	$18.0938	M	2600	Disposed	2010-01-03	Common Stock (2600)	Direct
2004-10-28	Nonqualified Stock Option (right to buy)	$18.1485	M	1533	Disposed	2012-01-02	Common Stock (1533)	Direct
2004-10-28	Nonqualified Stock Option (right to buy)	$19.5391	M	11798	Disposed	2012-02-27	Common Stock (11798)	Direct
2004-10-28	Nonqualified Stock Option (right to buy)	$19.8125	M	2550	Disposed	2009-01-14	Common Stock (2550)	Direct
2004-10-28	Nonqualified Stock Option (right to buy)	$20.2188	M	2550	Disposed	2008-02-25	Common Stock (2550)	Direct
2004-10-28	Nonqualified Stock Option (right to buy)	$37.18	A	1265	Acquired	2010-01-03	Common Stock (1265)	Direct
2004-10-28	Nonqualified Stock Option (right to buy)	$37.18	A	1193	Acquired	2011-01-02	Common Stock (1193)	Direct
2004-10-28	Nonqualified Stock Option (right to buy)	$37.18	A	748	Acquired	2012-01-02	Common Stock (748)	Direct
2004-10-28	Nonqualified Stock Option (right to buy)	$37.18	A	6200	Acquired	2012-02-27	Common Stock (6200)	Direct
2004-10-28	Nonqualified Stock Option (right to buy)	$37.18	A	1588	Acquired	2013-02-25	Common Stock (1588)	Direct

Footnotes

F1: On May 17, 2004, Pentair declared a 2-for-1 stock split in the form of a 100 percent stock dividend payable on June 8, 2004, to shareholders of record as of June 1, 2004. This previously reported stock option and exercise price have been adjusted to reflect the stock split.

F2: Non-qualified reload stock option granted under the Pentair, Inc. Outside Directors Non-Qualified Stock Option Plan.

F3: Reload stock option becomes exercisable upon grant and expires on the same date as the original option grant.