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: GLENN T MICHAEL (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-02	Common Shares - Restricted Stock Units	A	676	—	Acquired	676	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-01-02	Nonqualified Stock Option (right to buy)	$76.87	A	2269	Acquired	2024-01-02	Common Shares (2269)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	11580	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock Units (Deferred Compensation)	$		Common Shares (952.27)	952.27	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: End-of-period holdings reflect the vesting of restricted stock units that were previously reported.

F3: Nonqualified stock option granted under the Pentair Ltd. 2012 Stock and Incentive Plan.

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

F5: Phantom stock units convert into common shares on a one-for-one basis.

F6: Settlement of phantom stock units will be in Pentair Ltd. common shares in accordance with reporting person's irrevocable election.

F7: 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).