STEPAN CO — Director's Dealing 2011

Nov 16, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEPAN CO (SCL)
CIK: 0000094049
Period of Report: 2011-11-10

Reporting Person: HURLBUTT JAMES E (V.P. & Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-11-10	Common Stock	M	2000	$31.700	Acquired	8132.588	Direct
2011-11-10	Common Stock	S	2000	$79.000	Disposed	6132.588	Direct
2011-11-10	Common Stock	M	1500	$31.700	Acquired	7632.588	Direct
2011-11-10	Common Stock	S	1500	$81.000	Disposed	6132.588	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-11-10	Employee Stock Option (Right to Buy)	$31.700	M	2000	Disposed	2015-02-12	Common Stock (2000)	Direct
2011-11-10	Employee Stock Option (Right to Buy)	$31.700	M	1500	Disposed	2015-02-12	Common Stock (1500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	16.800	Indirect
Common Stock	337248	Indirect

Footnotes

F1: Transaction completed pursuant to a 10b5-1 trading plan.

F2: Since the date of the Reporting Person's last ownership report, the Reporting Person has acquired 16.800 shares pursuant to a dividend reinvestment feature of ESOP II and disposed of 2,156.166 shares pursuant to a diversification election made under the Internal Revenue Code.