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

Apr 28, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAINGER W W INC (GWW)
CIK: 0000277135
Period of Report: 2011-04-27

Reporting Person: RYAN JAMES T (Director, Chairman, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-04-27	Common Stock	M	3699	$54.14	Acquired	144427	Direct
2011-04-27	Common Stock	M	27000	$52.29	Acquired	171427	Direct
2011-04-27	Common Stock	S	3341	$150.00	Disposed	168086	Direct
2011-04-27	Common Stock	S	24338	$150.00	Disposed	143748	Direct
2011-04-28	Common Stock	F	4145	$150.19	Disposed	139603	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-04-27	Option	$54.14	M	3699	Disposed	2014-04-27	Common Stock (3699)	Direct
2011-04-27	Option	$52.29	M	27000	Disposed	2015-04-26	Common Stock (27000)	Direct
2011-04-27	Option	$149.02	A	96400	Acquired	2021-04-26	Common Stock (96400)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option	$76.61	2016-04-25	Common Stock (25000)	25000	Direct
Option	$83.08	2017-04-24	Common Stock (30000)	30000	Direct
Option	$85.82	2018-04-29	Common Stock (57000)	57000	Direct
Option	$81.49	2019-04-28	Common Stock (130000)	130000	Direct
Option	$108.15	2020-04-27	Common Stock (122000)	122000	Direct

Footnotes

F1: Transaction pursuant to a previously adopted Rule 10b5-1 trading program.