STEPAN CO — Director's Dealing 2006

Feb 16, 2006

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: STEPAN CO (SCL)
CIK: 0000094049
Period of Report: 2006-02-14

Reporting Person: Servatius Gregory (Vice Pres., Human Resources)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6329	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$30.9687	2008-05-04	Common Stock (6458)		Direct
Employee Stock Option	$21.75	2010-05-08	Common Stock (13793)		Direct
Employee Stock Option	$23.675	2012-02-10	Common Stock (8486)		Direct
Employee Stock Option	$24.94	2014-02-09	Common Stock (6912)		Direct
Management Incentive Plan	$	1988-08-08	Common Stock (1087)		Direct

Footnotes

F1: Management Incentive Plan ("Plan"), (a 16b-3 plan) approved April 28, 1992, by shareholders to permit option of taking balances in cash or company stock upon termination, death or retirement pursuant to Plan provisions.