<SEC-DOCUMENT>0001140361-12-042431.txt : 20121002
<SEC-HEADER>0001140361-12-042431.hdr.sgml : 20121002
<ACCEPTANCE-DATETIME>20121002162907
ACCESSION NUMBER:		0001140361-12-042431
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20120928
FILED AS OF DATE:		20121002
DATE AS OF CHANGE:		20121002

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Meyer Michael G
		CENTRAL INDEX KEY:			0001289605

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11625
		FILM NUMBER:		121123882

	MAIL ADDRESS:	
		STREET 1:		5500 WAYZATA BOULEVARD, SUITE 800
		CITY:			GOLDEN VALLEY
		STATE:			MN
		ZIP:			55416

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PENTAIR INC
		CENTRAL INDEX KEY:			0000077360
		STANDARD INDUSTRIAL CLASSIFICATION:	SPECIAL INDUSTRY MACHINERY (NO METALWORKING MACHINERY) [3550]
		IRS NUMBER:				410907434
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		5500 WAYZATA BLVD.
		STREET 2:		SUITE 800
		CITY:			GOLDEN VALLEY
		STATE:			MN
		ZIP:			55416
		BUSINESS PHONE:		763-545-1730

	MAIL ADDRESS:	
		STREET 1:		5500 WAYZATA BLVD.
		STREET 2:		SUITE 800
		CITY:			GOLDEN VALLEY
		STATE:			MN
		ZIP:			55416

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PENTAIR INDUSTRIES INC
		DATE OF NAME CHANGE:	19790327
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 4
<TEXT>
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        <issuerTradingSymbol>PNR</issuerTradingSymbol>
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            <rptOwnerName>Meyer Michael G</rptOwnerName>
        </reportingOwnerId>
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            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>GOLDEN VALLEY</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55416</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Vice President, Treasurer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

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            <ownershipNature>
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        <nonDerivativeTransaction>
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                    <value>D</value>
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        <nonDerivativeTransaction>
            <securityTitle>
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            <transactionDate>
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            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
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            <ownershipNature>
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                    <value>I</value>
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                <natureOfOwnership>
                    <value>By ESOP</value>
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            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
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            <securityTitle>
                <value>Employee Stock Option (right to buy)</value>
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            <conversionOrExercisePrice>
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            <transactionDate>
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                <transactionPricePerShare>
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            <transactionDate>
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                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>9097</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2013-01-03</value>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2022-01-03</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>9097</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>9097</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Common stock and derivative securities of Pentair Ltd. (&quot;the Issuer&quot;) were acquired pursuant to the Merger Agreement, dated as of March 27, 2012, as amended, among Pentair, Inc., Tyco International Ltd., the Issuer, Panthro Acquisition Co. and Panthro Merger Sub, Inc. Upon closing of the merger, Pentair, Inc. became a wholly owned subsidiary of the Issuer, and each share of Pentair, Inc. common stock was converted into one Issuer common share.  Derivative securities relating to Pentair, Inc. common stock were converted into derivative securities relating to an equal number of Issuer common shares with the same terms and conditions (including vesting schedule and exercise price, if applicable).</footnote>
        <footnote id="F2">Reload stock option becomes exercisable upon grant and expires on the same date as the original option grant.</footnote>
        <footnote id="F3">One-third of the stock options become exercisable on the first, second, and third anniversary of the grant.</footnote>
    </footnotes>

    <remarks>Issuer Name and Ticker Symbol:
Pentair Ltd. [PNR]</remarks>

    <ownerSignature>
        <signatureName>/s/ John K. Wilson, Attorney-in-Fact for Michael G. Meyer</signatureName>
        <signatureDate>2012-10-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
