PENTAIR plc — Director's Dealing 2007

May 8, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENTAIR INC (PNR)
CIK: 0000077360
Period of Report: 2007-05-03

Reporting Person: WELKE KAREN E (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-03	Common Stock	M	13085.179	—	Acquired	32612.553	Direct
2007-05-03	Common Stock	M	17453.541	—	Acquired	50066.094	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-05-03	Phantom Stock Units - Deferred Compensation	$1	M	13085.179	Disposed		Common Stock (13085.179)	Indirect
2007-05-03	Phantom Stock Units - Equity Compensation	$1	M	17453.541	Disposed		Common Stock (17453.541)	Indirect

Footnotes

F2: Phantom stock units convert into common stock on a one-for-one basis.

F1: End-of-period holdings include shares acquired under a dividend reinvestment plan in exempt transaction not required to be reported pursuant to Section 16(a).

F3: Phantom stock units became exercisable on May 3, 2007, in accordance with the reporting person's irrevocable election.

F4: Includes shares acquired under a dividend reinvestment plan in exempt transaction(s) not required to be reported pursuant to Section 16(a).