STEPAN CO — Director's Dealing 2006

Mar 1, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEPAN CO (SCL)
CIK: 0000094049
Period of Report: 2006-03-01

Reporting Person: STEPAN PAUL H (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-03-01	Common Stock	J	571	—	Acquired	571	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-03-01	Directors Deferred Compensation Plan	$	J	571	Disposed	1988-08-08	Common Stock (571)	Direct

Footnotes

F1: On March 1, 2006, 571 shares were paid to the director pursuant to the First Amendment to the Stepan Company Directors Deferred Compensation Plan which states that such shares shall be paid to the director upon termination of service on the Board of Directors.