STEPAN CO - Director's Dealing 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEPAN CO (SCL)
CIK: 0000094049
Period of Report: 2008-03-14

Reporting Person: HURLBUTT JAMES E (VP & Chief Financial Officer)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-03-14	Common Stock	M	1800	$30.9688	Acquired	11117.2437	Direct
2008-03-14	Common Stock	S	200	$35.93	Disposed	10917.2437	Direct
2008-03-14	Common Stock	S	300	$35.87	Disposed	10617.2437	Direct
2008-03-14	Common Stock	S	100	$35.84	Disposed	10517.2437	Direct
2008-03-14	Common Stock	S	200	$35.83	Disposed	10317.2437	Direct
2008-03-14	Common Stock	S	100	$35.82	Disposed	10217.2437	Direct
2008-03-14	Common Stock	S	100	$35.77	Disposed	10117.2437	Direct
2008-03-14	Common Stock	S	600	$35.74	Disposed	9517.2437	Direct
2008-03-14	Common Stock	S	100	$35.98	Disposed	9417.2437	Direct
2008-03-14	Common Stock	S	100	$35.88	Disposed	9317.2437	Direct
2008-03-14	Common Stock	M	6277	$23.675	Acquired	15594.2437	Direct
2008-03-14	Common Stock	S	400	$35.78	Disposed	15194.2437	Direct
2008-03-14	Common Stock	S	300	$35.72	Disposed	14894.2437	Direct
2008-03-14	Common Stock	S	300	$35.70	Disposed	14594.2437	Direct
2008-03-14	Common Stock	S	300	$35.66	Disposed	14294.2437	Direct
2008-03-14	Common Stock	S	1300	$35.65	Disposed	12994.2437	Direct
2008-03-14	Common Stock	S	1700	$35.63	Disposed	11294.2437	Direct
2008-03-14	Common Stock	S	1300	$35.62	Disposed	9994.2437	Direct
2008-03-14	Common Stock	S	100	$35.87	Disposed	9894.2437	Direct
2008-03-14	Common Stock	S	100	$35.67	Disposed	9794.2437	Direct
2008-03-14	Common Stock	S	477	$35.74	Disposed	9317.2437	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-03-14	Employee Stock Option	$30.9688	M	1800	Disposed	2008-05-04	Common Stock (1800)	Direct
2008-03-14	Employee Stock Option	$23.675	M	6277	Disposed	2012-02-10	Common Stock (6277)	Direct