PENTAIR plc — Director's Dealing 2014

Jan 7, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENTAIR LTD (PNR)
CIK: 0000077360
Period of Report: 2014-01-02

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-02	Common Shares - Restricted Stock Units	A	4336	—	Acquired	51123	Direct
2014-01-03	Common Shares - Restricted Stock Units	F	1145	$76.63	Disposed	47928	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-01-02	Employee Stock Option (right to buy)	$76.87	A	14543	Acquired	2024-01-02	Common Shares (14543)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	6568	Direct
Common Shares - ESOP	1010.9481	Indirect
Common Shares - Deferral Plan	3214.623	Indirect

Footnotes

F1: Restricted stock units granted pursuant to and subject to a vesting condition of the Pentair Ltd. 2012 Stock and Incentive Plan. Each restricted stock unit represents a right to receive one share of Pentair Ltd. common shares upon vesting.

F2: Shares surrendered to pay taxes applicable to vesting of restricted stock units.

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

F4: 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).

F5: Pentair common shares will be delivered to the reporting person in accordance with their irrevocable deferral election.

F6: Employee stock option granted under the Pentair Ltd. 2012 Stock and Incentive Plan.

F7: One-third of the stock options become exercisable on the first, second, and third anniversary of the grant.