W.W. GRAINGER, INC. — Director's Dealing 2011

Nov 30, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAINGER W W INC (GWW)
CIK: 0000277135
Period of Report: 2011-11-30

Reporting Person: SLAVIK JAMES D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-11-30	Common Stock	M	1650	$54.61	Acquired	1079842	Direct
2011-11-30	Common Stock	M	1980	$45.50	Acquired	1081822	Direct
2011-11-30	Common Stock	M	1670	$54.14	Acquired	1083492	Direct
2011-11-30	Common Stock	S	5300	$180.00	Disposed	1078192	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-11-30	Stock Option	$54.61	M	1650	Disposed	2012-04-23	Common Stock (1650)	Direct
2011-11-30	Stock Option	$45.50	M	1980	Disposed	2013-04-29	Common Stock (1980)	Direct
2011-11-30	Stock Option	$54.14	M	1670	Disposed	2014-04-27	Common Stock (1670)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	68847	Indirect
Common Stock	1044490	Indirect
Common Stock	1635760	Indirect
Common Stock	87306	Indirect
Common Stock	688	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Units	$		Common Stock (14380)	14380	Direct

Footnotes

F1: Shares held by trusts of which Mr. Slavik is a beneficiary and trustee or co-trustee.

F2: Shares held by or FBO Mr. Slavik's children. Mr. Slavik disclaims beneficial ownership of such shares.

F3: Shares held by corporation of which Mr. Slavik is a shareholder, director & officer. Mr. Slavik disclaims beneficial ownership of such shares.

F4: Shares held by trusts of which Mr. Slavik is a trustee or co-trustee. Mr. Slavik disclaims beneficial ownership of such shares.

F5: Shares held by Mr. Slavik's wife. Mr. Slavik disclaims beneficial ownership of such shares.

F6: 1-for-1

F7: The stock units are expected to settle in cash following termination of service as a director.