STEPAN CO — Director's Dealing 2008

Feb 14, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEPAN CO (SCL)
CIK: 0000094049
Period of Report: 2008-02-14

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-02-12	Employee Stock Option	$32.17	A	5000	Acquired	2016-02-11	Common Stock (5000)	Direct
2008-02-12	Performance Shares	$	A	2500	Acquired		Common Stock (2500)	Direct

Footnotes

F1: Each performance share represents a contingent right to receive 1 share of Stepan Company Common Stock. The performance shares vest upon Stepan Company achieving certain financial targets by December 31, 2010.