SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
HUGGINS PAMELA J

(Last) (First) (Middle)
PARKER-HANNIFIN CORPORATION
6035 PARKLAND BOULEVARD

(Street)
CLEVELAND OH 44124-4141

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
PARKER HANNIFIN CORP [ PH ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Vice President and Treasurer
3. Date of Earliest Transaction (Month/Day/Year)
05/15/2008
4. If Amendment, Date of 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
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 Stock 4,634.852 I Parker Retirement Savings Plan
Common Stock 6,601.676 I Parker Retirement Savings Plan - Spouse
Common Stock 7 I Spouse
Common Stock 05/15/2008 M 5,500 A $43.7667 24,615 D
Common Stock 05/15/2008 M 3,450 A $49.7534 28,065 D
Common Stock 05/15/2008 F 1,278 D $85.46 26,787 D
Common Stock 05/15/2008 S 500 D $85.165 26,286 D
Common Stock 05/15/2008 S 100 D $85.164 26,186 D
Common Stock 05/15/2008 S 6,472 D $85.144 19,714 D
Common Stock 05/15/2008 S 600 D $85.153 19,114 D
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 Securities Underlying Derivative Security (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: 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
Option to Buy with Tandem Stock Appreciation Right $43.7667 05/15/2008 M 5,500 (1) 08/09/2015 Common Stock 5,500 $0(3) 2,750 D
Option to Buy with Tandem Stock Appreciation Right $49.7534 05/15/2008 M 3,450 (2) 08/15/2016 Common Stock 3,450 $0(3) 6,900 D
Explanation of Responses:
1. The option vests in three equal installments on 8/10/2006, 8/10/2007 and 8/10/2008.
2. The option vests in three equal installments on 8/16/2007, 8/16/2008 and 8/16/2009.
3. Granted under the Corporation's 2003 Stock Incentive Plan in a transaction exempt under Rule 16b-3.
Remarks:
Joseph R. Leonti, Attorney-in-Fact 05/19/2008
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.