PENTAIR plc — Director's Dealing 2014

Mar 5, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENTAIR LTD (PNR)
CIK: 0000077360
Period of Report: 2014-03-02

Reporting Person: LAGESON ANGELA D (Sr. VP, Gen. Counsel & Secy)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-03-02	Common Shares - Restricted Stock Units	F	123	$80.81	Disposed	41233	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	3728	Direct
Common Shares - Deferral Plan	5236.272	Indirect
Common Shares - ESOP	1013.0297	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$41.12	2015-03-01	Common Shares (0)	0	Direct
Employee Stock Option (right to buy)	$41.17	2016-03-01	Common Shares (0)	0	Direct
Employee Stock Option (right to buy)	$31.56	2017-03-01	Common Shares (0)	0	Direct
Employee Stock Option (right to buy)	$32.40	2018-03-03	Common Shares (2799)	2799	Direct
Employee Stock Option (right to buy)	$19.13	2019-03-03	Common Shares (4815)	4815	Direct
Employee Stock Option (right to buy)	$34.23	2020-03-02	Common Shares (12763)	12763	Direct
Employee Stock Option (right to buy)	$36.98	2021-01-03	Common Shares (12812)	12812	Direct
Employee Stock Option (right to buy)	$34.12	2022-01-03	Common Shares (18586)	18586	Direct
Employee Stock Option (right to buy)	$50.61	2023-01-02	Common Shares (24641)	24641	Direct

Footnotes

F1: Shares surrendered to pay taxes applicable to vesting of restricted stock and restricted stock units.

F2: Since the date of the reporting person's last ownership report, the reporting person transferred 2,259 common shares, 5,577 restricted stock units, and employee stock options to purchase 3,931 common shares expiring March 1, 2015, 2,896 common shares expiring March 1, 2016, 3,215 common shares expiring March 1, 2017, 2,798 common shares expiring March 3, 2018, 4,814 common shares expiring March 3, 2019, 12,237 common shares expiring March 2, 2020, 10,475 common shares expiring January 3, 2021, 8,707 common shares expiring January 3, 2022 and 765 common shares expiring January 2, 2023 to her ex-spouse pursuant to a domestic relations order. The reporting person no longer reports as beneficially owned any securities owned by her ex-spouse.

F3: End-of-period holdings reflect the vesting of restricted stock units that were previously reported.

F4: Pentair common shares will be delivered to the reporting person in accordance with their irrevocable deferral election.

F5: End-of-period holdings include shares acquired under a dividend reinvestment plan in exempt transactions not required to be reported pursuant to Section 16(a).

F6: One-third of the stock options become exercisable on the first, second, and third anniversary of the grant.