SEC FORM 4

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^*

Cerepak Brad M

(Last)

(First)

(Middle)

C/O TRANE INC.

ONE CENTENNIAL AVENUE

(Street)

PISCATAWAY

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 & Controller

3. Date of Earliest Transaction (Month/Day/Year)
05/29/2008

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $.01 par value	05/29/2008		M		21,000	A	$24.78	30,377	D
Common Stock, $.01 par value	05/29/2008		M		50,000	A	$17.57	80,377	D
Common Stock, $.01 par value	05/29/2008		S		5,820	D	$46.41	74,557	D
Common Stock, $.01 par value	05/29/2008		S		800	D	$46.415	73,757	D
Common Stock, $.01 par value	05/29/2008		S		10,710	D	$46.42	63,047	D
Common Stock, $.01 par value	05/29/2008		S		700	D	$46.425	62,347	D
Common Stock, $.01 par value	05/29/2009		S		12,000	D	$46.43	50,347	D
Common Stock, $.01 par value	05/29/2008		S		1,200	D	$46.435	49,147	D
Common Stock, $.01 par value	05/29/2008		S		300	D	$46.44	48,847	D
Common Stock, $.01 par value	05/29/2008		S		1,700	D	$46.445	47,147	D
Common Stock, $.01 par value	05/29/2008		S		400	D	$46.449	46,747	D
Common Stock, $.01 par value	05/29/2008		S		34,900	D	$46.45	11,847	D
Common Stock, $.01 par value	05/29/2008		S		1,300	D	$46.455	10,547	D
Common Stock, $.01 par value	05/29/2008		S		1,170	D	$46.46	9,377	D
Common Stock, $.01 par value								3,326.4714	I	ESPP⁽¹⁾
Common Stock, $.01 par value								3,177.379	I	ESOP/Savings Plan/SSP⁽²⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$24.78⁽³⁾	05/29/2008		M			21,000	02/04/2005⁽⁴⁾	02/04/2014	Common Stock, $.01 par value	21,000	$0.00⁽⁵⁾	0	D
Stock Option (Right to Buy)	$17.57⁽³⁾	05/29/2008		M			50,000	06/23/2004⁽⁶⁾	06/23/2013	Common Stock, $.01 par value	50,000	$0.00⁽⁵⁾	0	D

Explanation of Responses:

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

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

3. Stock option exercise price reflects an adjustment exempt pursuant to Rule 16a-9, pursuant to the terms of the 2002 Omnibus Incentive Plan to account for the dividend of shares of WABCO Holdings Inc. (effective July 31, 2007) to the company's shareholders in connection with the spinoff of the company's vehicle control systems business.

4. Original grant of 21,000 options became exercisable in three equal installments beginning February 4, 2005.

5. Issued in connection with employment.

6. Original grant of 60,000 options became exercisable in three equal installments beginning June 23, 2004.

Remarks:

	/s/ Brad M. Cerepak (By M. Cresitello by Power of Attorney)	05/30/2008
	** 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.