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^*

ARNOTT JOHN

(Last)

(First)

(Middle)

C/O HOSPIRA, INC.

275 NORTH FIELD DRIVE

(Street)

LAKE FOREST

60045

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
HOSPIRA INC [ HSP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	SVP, Global Comm. Ops.

3. Date of Earliest Transaction (Month/Day/Year)
11/21/2005

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	11/21/2005		M		968	A	$37.1692	968	D
Common Stock	11/21/2005		M		2,094	A	$28.6878	3,062	D
Common Stock	11/21/2005		M		860	A	$28.6878	3,922	D
Common Stock	11/21/2005		S		3,212	D	$44.3038	710	D
Common Stock	11/21/2005		M		4,133	A	$31.3099	4,843	D
Common Stock	11/21/2005		M		4,161	A	$29.277	9,004	D
Common Stock	11/21/2005		M		7,896	A	$22.8933	16,900	D
Common Stock	11/21/2005		F		11,224	D	$44.47	5,676	D
Common Stock	11/21/2005		G		5,676	D	$0	0	D
Common Stock	11/21/2005		G		5,676	A	$0	15,772	I	See Note⁽¹⁾
Common Stock								269	I	See Note⁽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)
Option (right to buy)	$37.1692	11/21/2005		M			968	⁽³⁾	02/09/2006	Common Stock	968	$0	0	D
Option (right to buy)	$28.6878	11/21/2005		M			2,094	⁽³⁾	02/09/2006	Common Stock	2,094	$0	0	D
Option (right to buy)	$28.6878	11/21/2005		M			860	⁽³⁾	09/30/2006	Common Stock	860	$0	0	D
Option (right to buy)	$31.3099	11/21/2005		M			4,133	⁽³⁾	02/09/2011	Common Stock	4,133	$0	0	D
Option (right to buy)	$44.47	11/21/2005		A		2,909		05/22/2006	02/09/2011	Common Stock	2,909	$0	2,909	D
Option (right to buy)	$29.277	11/21/2005		M			4,161	⁽³⁾	02/12/2009	Common Stock	4,161	$0	0	D
Option (right to buy)	$44.47	11/21/2005		A		2,739		05/22/2006	02/12/2009	Common Stock	2,739	$0	2,739	D
Option (right to buy)	$22.8933	11/21/2005		M			7,896	⁽⁴⁾	02/14/2003	Common Stock	7,896	$0	27,771	D
Option (right to buy)	$44.47	11/21/2005		A		5,576		05/22/2006	02/14/2013	Common Stock	5,576	$0	5,576	D

Explanation of Responses:

1. Held by the Janette Arnott Revocable Trust.

2. Held in the Hospira 401(k) Retirement Savings Plan as of November 21, 2005.

3. Fully vested.

4. Of the remaining portion of this option, 6,454 shares are fully vested and 21,317 shares vest on February 14, 2006.

	Kent A. Pflederer, attorney in fact	11/22/2005
	** 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.
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