PENTAIR plc — Director's Dealing 2005

Mar 24, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENTAIR INC (PNR)
CIK: 0000077360
Period of Report: 2005-03-23

Reporting Person: HAGGERTY CHARLES A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-03-23	Common Stock	M	767	$18.1485	Acquired	18767	Direct
2005-03-23	Common Stock	M	5902	$19.5391	Acquired	24669	Direct
2005-03-23	Common Stock	M	3333	$17.725	Acquired	28002	Direct
2005-03-23	Common Stock	M	3333	$26.45	Acquired	31335	Direct
2005-03-23	Common Stock	F	7084	$39.01	Disposed	24251	Direct
2005-03-23	Common Stock	G	6251	—	Disposed	18000	Direct
2005-03-23	Common Stock	G	6251	—	Acquired	41177	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-03-23	Nonqualified Stock Option (right to buy)	$17.725	M	3333	Disposed	2013-02-25	Common Stock (3333)	Direct
2005-03-23	Nonqualified Stock Option (right to buy)	$18.1485	M	767	Disposed	2012-01-02	Common Stock (767)	Direct
2005-03-23	Nonqualified Stock Option (right to buy)	$19.5391	M	5902	Disposed	2012-02-27	Common Stock (5902)	Direct
2005-03-23	Nonqualified Stock Option (right to buy)	$26.45	M	3333	Disposed	2014-02-25	Common Stock (3333)	Direct
2005-03-23	Nonqualified Stock Option (right to buy)	$39.01	A	356	Acquired	2012-01-02	Common Stock (356)	Direct
2005-03-23	Nonqualified Stock Option (right to buy)	$39.01	A	2955	Acquired	2012-02-27	Common Stock (2955)	Direct
2005-03-23	Nonqualified Stock Option (right to buy)	$39.01	A	1514	Acquired	2013-02-25	Common Stock (1514)	Direct
2005-03-23	Nonqualified Stock Option (right to buy)	$39.01	A	2259	Acquired	2014-02-25	Common Stock (2259)	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.