STEPAN CO — Director's Dealing 2006

Nov 13, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEPAN CO (SCL)
CIK: 0000094049
Period of Report: 2006-11-08

Reporting Person: STEPAN F QUINN (Director, Chairman, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-08	Common Stock	M	800	$19.25	Acquired	363342.606	Direct
2006-11-08	Common Stock	F	449.88	$30.0117	Disposed	362892.726	Direct
2006-11-08	Common Stock	S	150.12	$30.0117	Disposed	362742.606	Direct
2006-11-08	Common Stock	F	150.87	$30.025	Disposed	362591.736	Direct
2006-11-08	Common Stock	S	49.13	$30.025	Disposed	362542.606	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-11-08	Employee Stock Option	$19.25	M	800	Disposed	2007-02-19	Common Stock (800)	Direct