STEPAN CO — Director's Dealing 2007

Nov 16, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEPAN CO (SCL)
CIK: 0000094049
Period of Report: 2007-11-14

Reporting Person: HURLBUTT JAMES E (Vice President, Finance)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-11-14	Common Stock	M	8797	$21.75	Acquired	17928.703	Direct
2007-11-14	Common Stock	S	8797	$31.669	Disposed	9131.703	Direct
2007-11-14	Common Stock	M	1429	$30.9688	Acquired	10560.703	Direct
2007-11-14	Common Stock	S	1429	$31.5061	Disposed	9131.703	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-11-14	Employee Stock Option	$21.75	M	8797	Disposed	2010-05-08	Common Stock (8797)	Direct
2007-11-14	Employee Stock Option	$30.9688	M	1429	Disposed	2008-05-04	Common Stock (1429)	Direct