PENTAIR plc — Director's Dealing 2014

Feb 27, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENTAIR LTD (PNR)
CIK: 0000077360
Period of Report: 2014-02-26

Reporting Person: MONAHAN WILLIAM T (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-02-26	Common Shares	M	10000	$40.42	Acquired	45627	Direct
2014-02-26	Common Shares	S	10000	$80.3008	Disposed	35627	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-02-26	Nonqualified Stock Option (right to buy)	$40.42	M	10000	Disposed	2015-02-23	Common Shares (10000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock Units (Deferred Compensation)	$		Common Shares (4607.886)	4607.886	Indirect

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $80.30 to $80.311. 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.

F2: This option is vested and exercisable.

F3: Phantom stock units convert into common shares on a one-for-one basis.

F4: Settlement of phantom stock units will be in Pentair Ltd. common shares in accordance with reporting person's irrevocable 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).