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	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
X	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* PANNIER DAVID R (Last) (First) (Middle) C/O TRANE INC. ONE CENTENNIAL AVENUE (Street) PISCATAWAY NJ 08855 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol TRANE INC. [ TT ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Vice President
	3. Date of Earliest Transaction (Month/Day/Year) 06/05/2008
	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, $.01 par value	06/05/2008		D		24,015	D	(1)	0	D
Common Stock, $.01 par value	06/05/2008		D		8,092.3217	D	(1)	0	I	ESPP(2)
Common Stock, $.01 par value	06/05/2008		D		31,656.658	D	(1)	0	I	Savings Plan/ESOP/SSP(3)
Common Stock, $.01 par value	06/05/2008		D		6,695.103	D	(1)	0	I	TNE(4)

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
Stock Option (Right to Buy)	$9.1	06/05/2008		D			10,992	06/05/2008(5)	02/02/2010	Common Stock, $.01 par value	10,992	(6)	0	D
Stock Option (Right to Buy)	$8.98	06/05/2008		D			22,119	06/05/2008(5)	02/02/2010	Common Stock, $.01 par value	22,119	(7)	0	D
Stock Option (Right to Buy)	$13.35	06/05/2008		D			69,699	06/05/2008(5)	03/01/2011	Common Stock, $.01 par value	69,699	(8)	0	D
Stock Option (Right to Buy)	$13.53	06/05/2008		D			7,394	06/05/2008(5)	03/01/2011	Common Stock, $.01 par value	7,394	(9)	0	D
Stock Option (Right to Buy)	$14.08	06/05/2008		D			23,474	06/05/2008(5)	02/07/2012	Common Stock, $.01 par value	23,474	(10)	0	D
Stock Option (Right to Buy)	$14.08	06/05/2008		D			51,526	06/05/2008(5)	02/07/2012	Common Stock, $.01 par value	51,526	(11)	0	D
Stock Option (Right to Buy)	$16.05	06/05/2008		D			60,000	06/05/2008(5)	02/06/2013	Common Stock, $.01 par value	60,000	(12)	0	D
Stock Option (Right to Buy)	$24.78	06/05/2008		D			51,000	06/05/2008(5)	02/04/2014	Common Stock, $.01 par value	51,000	(13)	0	D
Stock Option (Right to Buy)	$30.66	06/05/2008		D			50,000	06/05/2008(5)	02/02/2015	Common Stock, $.01 par value	50,000	(14)	0	D
Stock Option (Right to Buy)	$26.08	06/05/2008		D			50,000	06/05/2008(5)	02/01/2016	Common Stock, $.01 par value	50,000	(15)	0	D
Stock Option (Right to Buy)	$37.25	06/05/2008		D			50,000	06/05/2008(5)	02/05/2017	Common Stock, $.01 par value	50,000	(16)	0	D

Explanation of Responses:

1. Disposed of pursuant to the merger agreement between issuer and Indian Merger Sub, Inc. (a wholly owned subsidiary of Ingersoll-Rand Company Limited) in exchange for Ingersoll Rand Class A common shares at an exchange ratio of 0.23 per share plus $36.50 per share in cash.

2. Represents shares purchased pursuant to the Company's Employee Stock Purchase Plan.

3. Includes shares held in ESOP, Savings Plan and Supplemental Savings Plan.

4. Reflects shares held under prior incentive plan.

5. Pursuant to the terms of the merger agreement, all options, whether or not exercisable or vested at the Effective Time of the merger, became, as of the effective time of the merger, fully vested and exercisable.

6. In this merger, the option was converted into 11,615 options to acquire Class A common shares of Ingersoll Rand with an exersize price per option equal to $8.62.

7. This option was canceled in the merger in exchange for a cash payment of $832,080.64, representing the difference between the exercise price and the deemed value of the merger consideration to be paid in the merger in accordance with the merger agreement ($46.60 per share).

8. This option was canceled in the merger in exchange for a cash payment of $2,317,377.88, representing the difference between the exercise price and the deemed value of the merger consideration to be paid in the merger in accordance with the merger agreement ($46.60 per share).

9. In this merger, the option was converted into 7,813 options to acquire Class A common shares of Ingersoll Rand with an exersize price per option equal to $12.81.

10. This option was canceled in the merger in exchange for a cash payment of $763,336.13, representing the difference between the exercise price and the deemed value of the merger consideration to be paid in the merger in accordance with the merger agreement ($46.60 per share).

11. In this merger, the option was converted into 49,464 options to acquire Class A common shares of Ingersoll Rand with an exersize price per option equal to $10.07.

12. In this merger, the option was converted into 57,600 options to acquire Class A common shares of Ingersoll Rand with an exersize price per option equal to $12.13.

13. In this merger, the option was converted into 48,960 options to acquire Class A common shares of Ingersoll Rand with an exersize price per option equal to $21.22.

14. In this merger, the option was converted into 48,000 options to acquire Class A common shares of Ingersoll Rand with an exersize price per option equal to $27.35.

15. In this merger, the option was converted into 48,000 options to acquire Class A common shares of Ingersoll Rand with an exersize price per option equal to $22.57.

16. In this merger, the option was converted into 48,000 options to acquire Class A common shares of Ingersoll Rand with an exersize price per option equal to $34.21.

Remarks:

	/s/ David R. Pannier (By M. Cresitello by Power of Attorney)	06/09/2008
	** 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).
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