PENTAIR plc — Director's Dealing 2014

Mar 3, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENTAIR LTD (PNR)
CIK: 0000077360
Period of Report: 2014-02-27

Reporting Person: KOURY FREDERICK S (Sr. VP, Human Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-02-27	Common Shares	M	70000	$34.18	Acquired	125505	Direct
2014-02-27	Common Shares	S	67075	$80.8363	Disposed	58430	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-02-27	Employee Stock Option (right to buy)	$34.18	M	70000	Disposed	2018-01-02	Common Shares (70000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares - ESPP	0	Direct
Common Shares - ESOP	714.5193	Indirect

Footnotes

F1: 1,398 shares previously held through the employee stock purchase plan were transferred to the reporting person's personal account on February 12, 2014 and are now owned directly.

F2: The price in Column 4 is a weighted average price. The prices actually received ranged from $80.79 to $80.96. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.

F3: 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).

F4: One-third of the stock options become exercisable on the first, second, and third anniversary of the grant.