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*
REILLEY DENNIS H
(Last) (First) (Middle)
C/O PRAXAIR, INC.
39 OLD RIDGEBURY ROAD
(Street)
DANBURY CT 06810-5113
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
PRAXAIR INC [ PX ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Chairman and CEO
3. Date of Earliest Transaction (Month/Day/Year)
11/02/2006
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 11/02/2006 M 315,000 A $19.7188 425,346.4772 D
Common Stock 11/02/2006 M 60,000 A $22.01 485,346.4772 D
Common Stock 11/02/2006 S 4,300 D $61.62 481,046.4772 D
Common Stock 11/02/2006 S 700 D $61.7043 480,346.4772 D
Common Stock 11/02/2006 S 8,001 D $61.6527 472,345.4772 D
Common Stock 11/02/2006 S 16,999 D $61.75 455,346.4772 D
Common Stock 11/02/2006 S 2,300 D $61.6574 453,046.4772 D
Common Stock 11/02/2006 S 42,700 D $61.8 410,346.4772 D
Common Stock 11/02/2006 S 5,000 D $61.6454 405,346.4772 D
Common Stock 11/02/2006 S 5,000 D $61.6322 400,346.4772 D
Common Stock 11/02/2006 S 5,000 D $61.6636 395,346.4772 D
Common Stock 11/02/2006 S 5,000 D $61.7032 390,346.4772 D
Common Stock 11/02/2006 S 5,000 D $61.7004 385,346.4772 D
Common Stock 11/02/2006 S 5,000 D $61.7138 380,346.4772 D
Common Stock 11/02/2006 S 10,000 D $61.7536 370,346.4772 D
Common Stock 11/02/2006 S 5,000 D $61.8048 365,346.4772 D
Common Stock 11/02/2006 S 5,000 D $61.802 360,346.4772 D
Common Stock 11/02/2006 S 40,000 D $61.7 320,346.4772 D
Common Stock 11/02/2006 S 5,000 D $61.71 315,346.4772 D
Common Stock 11/02/2006 S 25,000 D $61.65 290,346.4772 D
Common Stock 11/02/2006 S 55,000 D $61.6 235,346.4772 D
Common Stock 11/02/2006 S 10,000 D $61.55 225,346.4772 D
Common Stock 11/02/2006 S 5,000 D $61.6564 220,346.4772 D
Common Stock 11/02/2006 S 5,000 D $61.503 215,346.4772 D
Common Stock 11/02/2006 S 20,000 D $61.5 195,346.4772 D
Common Stock 11/02/2006 S 5,000 D $61.5576 190,346.4772 D
Common Stock 11/02/2006 S 5,000 D $61.4 185,346.4772 D
Common Stock 11/02/2006 S 15,000 D $61.45 170,346.4772 D
Common Stock 11/02/2006 S 5,000 D $61.4048 165,346.4772 D
Common Stock 11/02/2006 S 5,000 D $61.4108 160,346.4772 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
Stock Option (right to buy) $19.7188 11/02/2006 M 315,000 02/22/2002 02/22/2010 Common Stock 315,000 $0 0 D
Stock Option (right to buy) $22.01 11/02/2006 M 60,000 02/21/2003 02/21/2011 Common Stock 60,000 $0 270,000 D
Stock Option (right to buy) $27.43 01/02/2004 01/02/2012 Common Stock 440,000 440,000 D
Stock Option (right to buy) $26.425 02/28/2004 02/28/2013 Common Stock 400,000 400,000 D
Stock Option (right to buy) $36.58 02/24/2005 02/24/2014 Common Stock 400,000 400,000 D
Stock Option (right to buy) $44.25 02/22/2006 02/22/2015 Common Stock 454,100 454,100 D
Stock Option (right to buy) $53.98 02/28/2007 02/28/2016 Common Stock 475,000 475,000 D
Deferred Stock(1) (2) (1) (1) Common Stock 77,478.556 77,478.556 D
Explanation of Responses:
1. Deferred stock units acquired under the 1993 Praxair, Inc. Compensation Deferral Program as amended and are to be settled in Praxair Common Stock.
2. Conversion to Praxair Common Stock is on a 1-for-1 basis.
Remarks:
1 of 2 Forms 4
Anthony M. Pepper, Attorney-in-Fact 11/03/2006
** 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.