STEPAN CO — Director's Dealing 2006

Nov 16, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEPAN CO (SCL)
CIK: 0000094049
Period of Report: 2006-11-15

Reporting Person: WOOD ROBERT JOHN (VP & GM Polymers)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-15	Common Stock	M	1000	$21.75	Acquired	2223	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-11-16	Employee Stock Option	$21.75	M	1000	Disposed	2010-05-08	Common Stock (1000)	Direct