PENTAIR plc — Director's Dealing 2005

Mar 17, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENTAIR INC (PNR)
CIK: 0000077360
Period of Report: 2005-03-15

Reporting Person: DURANT KAREN A (Vice President, Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-03-15	Common Stock	M	14490	$18.1485	Acquired	75228.027	Direct
2005-03-15	Common Stock	M	24000	$17.47	Acquired	99228.027	Direct
2005-03-15	Common Stock	M	20000	$22.88	Acquired	119228.027	Direct
2005-03-15	Common Stock	F	39295	$40.79	Disposed	79933.027	Direct
2005-03-17	Common Stock	S	5100	$39.84	Disposed	74833.027	Direct
2005-03-17	Common Stock	S	2200	$39.85	Disposed	72633.027	Direct
2005-03-17	Common Stock	S	100	$39.86	Disposed	72533.027	Direct
2005-03-17	Common Stock	S	100	$39.87	Disposed	72433.027	Direct
2005-03-17	Common Stock	S	5000	$39.88	Disposed	67433.027	Direct
2005-03-17	Common Stock	S	300	$39.89	Disposed	67133.027	Direct
2005-03-17	Common Stock	S	4195	$39.9	Disposed	62938.027	Direct
2005-03-17	Common Stock	S	2200	$39.91	Disposed	60738.027	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-03-15	Employee Stock Option (right to buy)	$17.47	M	24000	Disposed	2013-01-02	Common Stock (24000)	Direct
2005-03-15	Employee Stock Option (right to buy)	$18.1485	M	14490	Disposed	2012-01-02	Common Stock (14490)	Direct
2005-03-15	Employee Stock Option (right to buy)	$22.88	M	20000	Disposed	2014-01-02	Common Stock (20000)	Direct
2005-03-15	Employee Stock Option (right to buy)	$40.79	A	6446	Acquired	2012-01-02	Common Stock (6446)	Direct
2005-03-15	Employee Stock Option (right to buy)	$40.79	A	10278	Acquired	2013-01-02	Common Stock (10278)	Direct
2005-03-15	Employee Stock Option (right to buy)	$40.79	A	11218	Acquired	2014-01-02	Common Stock (11218)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	10126.573	Indirect

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: Employee reload stock option granted pursuant to the Pentair, Inc. Omnibus Stock Incentive Plan.

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