Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
LAGESON ANGELA D
   2. Issuer Name and Ticker or Trading Symbol
PENTAIR LTD [PNR] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Sr. VP, Gen. Counsel & Secy
(Last)
(First)
(Middle)
5500 WAYZATA BLVD., SUITE 800		 3. Date of Earliest Transaction (Month/Day/Year)
03/02/2014
(Street)

GOLDEN VALLEY, MN 55416		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Shares - Restricted Stock Units 03/02/2014   F(1)   123 D $ 80.81 41,233 (2) (3) D  
Common Shares               3,728 (2) (3) D  
Common Shares - Deferral Plan               5,236.272 (3) (4) (5) I Plan Agent
Common Shares - ESOP               1,013.0297 (5) I By ESOP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) $ 41.12             03/01/2006(6) 03/01/2015 Common Shares 0   0 (2) D  
Employee Stock Option (right to buy) $ 41.17             03/01/2007(6) 03/01/2016 Common Shares 0   0 (2) D  
Employee Stock Option (right to buy) $ 31.56             03/01/2008(6) 03/01/2017 Common Shares 0   0 (2) D  
Employee Stock Option (right to buy) $ 32.4             03/03/2009(6) 03/03/2018 Common Shares 2,799   2,799 (2) D  
Employee Stock Option (right to buy) $ 19.13             03/03/2010(6) 03/03/2019 Common Shares 4,815   4,815 (2) D  
Employee Stock Option (right to buy) $ 34.23             03/02/2011(6) 03/02/2020 Common Shares 12,763   12,763 (2) D  
Employee Stock Option (right to buy) $ 36.98             01/03/2012(6) 01/03/2021 Common Shares 12,812   12,812 (2) D  
Employee Stock Option (right to buy) $ 34.12             01/03/2013(6) 01/03/2022 Common Shares 18,586   18,586 (2) D  
Employee Stock Option (right to buy) $ 50.61             01/02/2014(6) 01/02/2023 Common Shares 24,641   24,641 (2) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
LAGESON ANGELA D
5500 WAYZATA BLVD., SUITE 800
GOLDEN VALLEY, MN 55416		       Sr. VP, Gen. Counsel & Secy  

Signatures

 /s/ John K. Wilson, Attorney-in-Fact for Angela D. Lageson   03/04/2014
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Shares surrendered to pay taxes applicable to vesting of restricted stock and restricted stock units.
(2) Since the date of the reporting person's last ownership report, the reporting person transferred 2,259 common shares, 5,577 restricted stock units, and employee stock options to purchase 3,931 common shares expiring March 1, 2015, 2,896 common shares expiring March 1, 2016, 3,215 common shares expiring March 1, 2017, 2,798 common shares expiring March 3, 2018, 4,814 common shares expiring March 3, 2019, 12,237 common shares expiring March 2, 2020, 10,475 common shares expiring January 3, 2021, 8,707 common shares expiring January 3, 2022 and 765 common shares expiring January 2, 2023 to her ex-spouse pursuant to a domestic relations order. The reporting person no longer reports as beneficially owned any securities owned by her ex-spouse.
(3) End-of-period holdings reflect the vesting of restricted stock units that were previously reported.
(4) Pentair common shares will be delivered to the reporting person in accordance with their irrevocable deferral election.
(5) End-of-period holdings include shares acquired under a dividend reinvestment plan in exempt transactions not required to be reported pursuant to Section 16(a).
(6) One-third of the stock options become exercisable on the first, second, and third anniversary of the grant.

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