UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. )*

ingersoll-rand PLC

(Name of Issuer)


Ordinary Shares, $1.00 par value

(Title of Class of Securities)


G47791101

(CUSIP Number)

 

Brian L. Schorr, Esq.

Trian Fund Management, L.P.

280 Park Avenue, 41st Floor

New York, New York 10017

Tel. No.:(212) 451-3000

Debra Smith

California State Teachers’ Retirement System

100 Waterfront Place, MS 04

West Sacramento, CA 95605

Tel. No.: (916) 414-7551

 

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

May 1, 2012

(Date of Event Which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ¨.

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The Information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).


 

1

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

Nelson Peltz

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [  ]

(b) [_]

3 SEC USE ONLY  
4

SOURCE OF FUNDS

AF

 
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_]
6

CITIZENSHIP OR PLACE OF ORGANIZATION

United States

 
NUMBER OF SHARES
BENEFICIALLY OWNED
BY EACH REPORTING
PERSON WITH
7

SOLE VOTING POWER

0

 
8

SHARED VOTING POWER

21,072,305

 
9

SOLE DISPOSITIVE POWER

0

 
10

SHARED DISPOSITIVE POWER

21,072,305

 
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

21,072,305

 
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [x]
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

7.05%*

 
14

TYPE OF REPORTING PERSON

IN

 
         

_______

*Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2012 (the “Form 10-Q”).

2


 

1

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

Peter W. May

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [  ]

(b) [_]

3 SEC USE ONLY  
4

SOURCE OF FUNDS

AF

 
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_]
6

CITIZENSHIP OR PLACE OF ORGANIZATION

United States

 
NUMBER OF SHARES
BENEFICIALLY OWNED
BY EACH REPORTING
PERSON WITH
7

SOLE VOTING POWER

0

 
8

SHARED VOTING POWER

21,072,305

 
9

SOLE DISPOSITIVE POWER

0

 
10

SHARED DISPOSITIVE POWER

21,072,305

 
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

21,072,305

 
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [x]
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

7.05%*

 
14

TYPE OF REPORTING PERSON

IN

 
         

_______

* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.

 

3


 

1

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

Edward P. Garden

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [  ]

(b) [_]

3 SEC USE ONLY  
4

SOURCE OF FUNDS

AF

 
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_]
6

CITIZENSHIP OR PLACE OF ORGANIZATION

United States

 
NUMBER OF SHARES
BENEFICIALLY OWNED
BY EACH REPORTING
PERSON WITH
7

SOLE VOTING POWER

0

 
8

SHARED VOTING POWER

21,072,305

 
9

SOLE DISPOSITIVE POWER

0

 
10

SHARED DISPOSITIVE POWER

21,072,305

 
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

21,072,305

 
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [x]
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

7.05%*

 
14

TYPE OF REPORTING PERSON

IN

 
         

_______

* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.

 

 

4


 

1

NAME OF REPORTING PERSON

Trian Fund Management, L.P.

S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

20-3454182

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [  ]

(b) [_]

3 SEC USE ONLY  
4

SOURCE OF FUNDS

AF

 
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_]
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 
NUMBER OF SHARES
BENEFICIALLY OWNED
BY EACH REPORTING
PERSON WITH
7

SOLE VOTING POWER

0

 
8

SHARED VOTING POWER

21,072,305

 
9

SOLE DISPOSITIVE POWER

0

 
10

SHARED DISPOSITIVE POWER

21,072,305

 
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

21,072,305

 
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [x]
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

7.05%*

 
14

TYPE OF REPORTING PERSON

PN

 
         

_______

*Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.

 

5


 

1

NAME OF REPORTING PERSON

Trian Fund Management GP, LLC

S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

20-3454087

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [  ]

(b) [_]

3 SEC USE ONLY  
4

SOURCE OF FUNDS

AF

 
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_]
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 
NUMBER OF SHARES
BENEFICIALLY OWNED
BY EACH REPORTING
PERSON WITH
7

SOLE VOTING POWER

0

 
8

SHARED VOTING POWER

21,072,305

 
9

SOLE DISPOSITIVE POWER

0

 
10

SHARED DISPOSITIVE POWER

21,072,305

 
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

21,072,305

 
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [x]
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

7.05%*

 
14

TYPE OF REPORTING PERSON

OO

 
         

_______

* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.

 

6


 

1

NAME OF REPORTING PERSON

Trian Partners Master Fund (ERISA), L.P.

S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

98-0682467

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [  ]

(b) [_]

3 SEC USE ONLY  
4

SOURCE OF FUNDS

WC

 
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_]
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Cayman Islands

 
NUMBER OF SHARES
BENEFICIALLY OWNED
BY EACH REPORTING
PERSON WITH
7

SOLE VOTING POWER

0

 
8

SHARED VOTING POWER

199,908

 
9

SOLE DISPOSITIVE POWER

0

 
10

SHARED DISPOSITIVE POWER

199,908

 
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

199,908

 
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X]
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.07%*

 
14

TYPE OF REPORTING PERSON

PN

 
         

_______

* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.

.

7


 

1

NAME OF REPORTING PERSON

Trian Partners, L.P.

S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

20-3453988

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [  ]

(b) [_]

3 SEC USE ONLY  
4

SOURCE OF FUNDS

WC

 
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_]
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 
NUMBER OF SHARES
BENEFICIALLY OWNED
BY EACH REPORTING
PERSON WITH
7

SOLE VOTING POWER

0

 
8

SHARED VOTING POWER

2,298,601

 
9

SOLE DISPOSITIVE POWER

0

 
10

SHARED DISPOSITIVE POWER

2,298,601

 
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,298,601

 
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X]
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.77%*

 
14

TYPE OF REPORTING PERSON

PN

 
         

_______

* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.

 

8


 

1

NAME OF REPORTING PERSON

Trian Partners Master Fund, L.P.

S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

98-0468601

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [  ]

(b) [_]

3 SEC USE ONLY  
4

SOURCE OF FUNDS

WC

 
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_]
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Cayman Islands

 
NUMBER OF SHARES
BENEFICIALLY OWNED
BY EACH REPORTING
PERSON WITH
7

SOLE VOTING POWER

0

 
8

SHARED VOTING POWER

6,670,589

 
9

SOLE DISPOSITIVE POWER

0

 
10

SHARED DISPOSITIVE POWER

6,670,589

 
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

6,670,589

 
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X]
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

2.23%*

 
14

TYPE OF REPORTING PERSON

PN

 
         

_______

* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.

 

 

9


 

1

NAME OF REPORTING PERSON

Trian Partners Parallel Fund I, L.P.

S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

20-3694154

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [  ]

(b) [_]

3 SEC USE ONLY  
4

SOURCE OF FUNDS

WC

 
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_]
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 
NUMBER OF SHARES
BENEFICIALLY OWNED
BY EACH REPORTING
PERSON WITH
7

SOLE VOTING POWER

0

 
8

SHARED VOTING POWER

335,832

 
9

SOLE DISPOSITIVE POWER

0

 
10

SHARED DISPOSITIVE POWER

335,832

 
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

335,832

 
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X]
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.11%*

 
14

TYPE OF REPORTING PERSON

PN

 
         

_______

* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.

 

10


 

1

NAME OF REPORTING PERSON

Trian Partners Strategic Investment Fund-A, L.P.

S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

27-4180625

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [  ]

(b) [_]

3 SEC USE ONLY  
4

SOURCE OF FUNDS

WC

 
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_]
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 
NUMBER OF SHARES
BENEFICIALLY OWNED
BY EACH REPORTING
PERSON WITH
7

SOLE VOTING POWER

0

 
8

SHARED VOTING POWER

1,268,711

 
9

SOLE DISPOSITIVE POWER

0

 
10

SHARED DISPOSITIVE POWER

1,268,711

 
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

1,268,711

 
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X]
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.42%*

 
14

TYPE OF REPORTING PERSON

PN

 
         

_______

* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.

 

11


 

1

NAME OF REPORTING PERSON

Trian Partners Strategic Co-Investment Fund-A, L.P.

S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

36-4728074

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [  ]

(b) [_]

3 SEC USE ONLY  
4

SOURCE OF FUNDS

WC

 
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_]
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 
NUMBER OF SHARES
BENEFICIALLY OWNED
BY EACH REPORTING
PERSON WITH
7

SOLE VOTING POWER

0

 
8

SHARED VOTING POWER

1,178,550

 
9

SOLE DISPOSITIVE POWER

0

 
10

SHARED DISPOSITIVE POWER

1,178,550

 
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

1,178,550

 
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X]
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.39%*

 
14

TYPE OF REPORTING PERSON

PN

 
         

_______

* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.

 

12


 

1

NAME OF REPORTING PERSON

Trian Partners Strategic Investment Fund, L.P.

S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

37-1593120

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [  ]

(b) [_]

3 SEC USE ONLY  
4

SOURCE OF FUNDS

WC

 
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_]
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

 
NUMBER OF SHARES
BENEFICIALLY OWNED
BY EACH REPORTING
PERSON WITH
7

SOLE VOTING POWER

0

 
8

SHARED VOTING POWER

2,958,664

 
9

SOLE DISPOSITIVE POWER

0

 
10

SHARED DISPOSITIVE POWER

2,958,664

 
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,958,664

 
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X]
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.99%*

 
14

TYPE OF REPORTING PERSON

PN

 
         

_______

* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.

 

13


 

1

NAME OF REPORTING PERSON

Trian SPV (SUB) VI, L.P.

S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

98-0644507

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [  ]

(b) [_]

3 SEC USE ONLY  
4

SOURCE OF FUNDS

WC

 
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_]
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Cayman Islands

 
NUMBER OF SHARES
BENEFICIALLY OWNED
BY EACH REPORTING
PERSON WITH
7

SOLE VOTING POWER

0

 
8

SHARED VOTING POWER

1,460,000

 
9

SOLE DISPOSITIVE POWER

0

 
10

SHARED DISPOSITIVE POWER

1,460,000

 
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

1,460,000

 
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X]
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.49%*

 
14

TYPE OF REPORTING PERSON

PN

 
         

_______

* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.

 

14


 

1

NAME OF REPORTING PERSON

Trian SPV (SUB) VI-A, L.P.

S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

98-1047700

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [  ]

(b) [_]

3 SEC USE ONLY  
4

SOURCE OF FUNDS

WC

 
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_]
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Cayman Islands

 
NUMBER OF SHARES
BENEFICIALLY OWNED
BY EACH REPORTING
PERSON WITH
7

SOLE VOTING POWER

0

 
8

SHARED VOTING POWER

4,701,450

 
9

SOLE DISPOSITIVE POWER

0

 
10

SHARED DISPOSITIVE POWER

4,701,450

 
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

4,701,450

 
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X]
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

1.57%*

 
14

TYPE OF REPORTING PERSON

PN

 
         

_____________

* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.

 

15


 

1

NAME OF REPORTING PERSON

California State Teachers’ Retirement System

S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

94-6291617

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [  ]

(b) [_]

3 SEC USE ONLY  
4

SOURCE OF FUNDS

WC

 
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_]
6

CITIZENSHIP OR PLACE OF ORGANIZATION

California Government Pension Plan

 
NUMBER OF SHARES
BENEFICIALLY OWNED
BY EACH REPORTING
PERSON WITH
7

SOLE VOTING POWER

813,101

 
8

SHARED VOTING POWER

0

 
9

SOLE DISPOSITIVE POWER

555,343

 
10

SHARED DISPOSITIVE POWER

257,758

 
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

813,101

 
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X]
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.27%*

 
14

TYPE OF REPORTING PERSON

EP

 
         

_______

* Calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Form 10-Q.


16


Item 1. Security and Issuer

This Schedule 13D relates to the Ordinary Shares, $1.00 par value per share (the “Shares”), of Ingersoll-Rand plc, an Irish public limited company (the “Issuer”). The address of the principal executive office of the Issuer is 170/175 Lakeview Dr., Airside Business Park, Swords, Co. Dublin, Ireland.

Item 2. Identity and Background

The persons filing this statement are Trian Partners, L.P., a Delaware limited partnership (“Trian Onshore”), Trian Partners Master Fund, L.P., a Cayman Islands limited partnership (“Trian Offshore”), Trian Partners Parallel Fund I, L.P., a Delaware limited partnership (“Parallel Fund I”), Trian Partners Master Fund (ERISA) L.P., a Cayman Islands limited partnership (“Trian ERISA”), Trian Partners Strategic Investment Fund, L.P., a Delaware limited partnership (“TPSIF”), Trian Partners Strategic Investment Fund-A, L.P., a Delaware limited partnership (“Strategic Fund-A”), Trian Partners Strategic Co-Investment Fund-A, L.P., a Delaware limited partnership (“Coinvest Fund-A”), Trian SPV (SUB) VI, L.P., a Cayman Islands limited partnership (“SPV VI”), Trian SPV (SUB) VI-A, L.P., a Cayman Islands limited partnership (“SPV VI-A”), Trian Fund Management, L.P., a Delaware limited partnership (“Trian Management”), and Trian Fund Management GP, LLC, a Delaware limited liability company (“Trian Management GP” and together with the foregoing, the “Trian Entities”), Nelson Peltz, a citizen of the United States of America, Peter W. May, a citizen of the United States of America, and Edward P. Garden, a citizen of the United States of America (the Trian Entities and Messrs. Peltz, May and Garden are sometimes hereinafter referred to collectively as the “Trian Group”). The principal business address and the address of the principal office of each member of the Trian Group is 280 Park Avenue, 41st Floor, New York, New York 10017, except that the principal business address of Trian Offshore, Trian ERISA, SPV VI and SPV VI-A is Gardenia Court, Suite 3307, 45 Market Street, Camana Bay, Grand Cayman, Cayman Islands, KY1-1103.

Trian Management GP is the general partner of Trian Management, which serves as the management company for Trian Onshore, Trian Offshore, Parallel Fund I, Trian ERISA, TPSIF, Strategic Fund-A, Coinvest Fund-A, SPV VI and SPV VI-A. Trian Management GP is controlled by Nelson Peltz, Peter W. May and Edward P. Garden, who therefore are in a position to determine the investment and voting decisions made by the Trian Entities.

Each of Trian Onshore, Trian Offshore, Parallel Fund I, Trian ERISA, TPSIF, Strategic Fund-A, Coinvest Fund-A, SPV VI and SPV VI-A is primarily engaged in the business of investing in securities. Trian Management is primarily engaged in the business of serving as a management company for the Trian Entities and other funds, accounts and investment vehicles. Trian Management GP is primarily engaged in the business of serving as the general partner of Trian Management.

Nelson Peltz’s present principal occupation or employment is serving as Chief Executive Officer and a founding partner of Trian Management and, as such, managing the investments of Trian Onshore, Trian Offshore, Parallel Fund I, Trian ERISA, TPSIF, Strategic Fund-A, Coinvest Fund-A, SPV VI and SPV VI-A and other funds, accounts and investment vehicles managed by Trian Management. Peter W. May’s present principal occupation or employment is serving as President and a founding partner of Trian Management and, as such, managing the investments of Trian Onshore, Trian Offshore, Parallel Fund I, Trian ERISA, TPSIF, Strategic Fund-A, Coinvest Fund-A, SPV VI and SPV VI-A and other funds, accounts and investment vehicles managed by Trian Management. Edward P. Garden’s present principal occupation or employment is serving as Chief Investment Officer and a founding partner of Trian Management and, as such, managing the investments of Trian Onshore, Trian Offshore, Parallel Fund I, Trian ERISA, TPSIF, Strategic Fund-A, Coinvest Fund-A, SPV VI and SPV VI-A and other funds, accounts and investment vehicles managed by Trian Management.

This Schedule 13D is also being filed by California State Teachers’ Retirement System, a California Government Employee Benefit Plan (“CalSTRS,” along with the Trian Group are sometimes hereinafter referred to collectively as the “Reporting Persons”). The principal business of CalSTRS is to provide retirement related benefits and services to teachers in public schools and community colleges in California. The principal business address for CalSTRS is 100 Waterfront Place, MS 04, West Sacramento, CA 95605.

 

17


CalSTRS and the Trian Group are filing this Schedule 13D jointly due to CalSTRS’ investment in Coinvest Fund-A and CalSTRS beneficial ownership of the CalSTRS Shares (as defined in Item 5).

None of the Reporting Persons, nor any director, executive officer, general partner or controlling person of any of the Reporting Persons, has, during the past five years, (a) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or (b) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting, or mandating activities subject to, Federal or State securities laws or a finding of any violation with respect to such laws.

Each of the Reporting Persons is responsible for the completeness and accuracy of the information concerning him or it contained herein, but is not responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

Item 3. Source and Amount of Funds or Other Consideration

As of 4:00 p.m., New York City time, on May 8, 2012, the aggregate purchase price of the 14,283,769 Shares (not including those Shares underlying any Options) purchased by the Reporting Persons collectively was $582,195,322 (including commissions). In addition, as of such time and date, Trian Onshore, Trian Offshore and TPSIF beneficially owned, in the aggregate, an additional 7,601,637 Shares, which were acquired through a series of privately negotiated back-to-back call and put transactions with certain financial institutions (the “Options”) and as a result of which Trian Onshore, Trian Offshore and TPSIF are each subject to the same economic gain or loss as if they had purchased the underlying Shares. As of May 8, 2012, these Options had an aggregate strike price of $308,482,572 (See Schedule A hereto for additional detail on the Options). As set forth in Item 5, none of the other Reporting Persons directly own any Shares or Options. The source of funding for the purchase of the Shares was, and the source of funding for the purchase of any additional Shares and Options, the exercise of the Options or the purchase and/or exercise of any additional Options or other derivative securities related to the market price of the Shares acquired in the future is currently expected to be, the respective general working capital of the purchasers.

Item 4. Purpose of Transaction

 

The Trian Group acquired the Shares because they believe that the Shares are currently undervalued in the market place and represent an attractive investment opportunity. CalSTRS acquired the Shares pursuant to the exercise of discretion by external managers over accounts that they manage for CalSTRS and for purposes of an internally managed and held index fund. The Trian Group intends to meet and have conversations with members of the Board and senior management of the Issuer to discuss the Issuer’s business and strategies to enhance value for the Issuer’s shareholders. During these discussions, the Trian Group intends to communicate its view that while the Issuer has an attractive collection of businesses, total shareholder returns and profitability have lagged peers, and that there is an opportunity to enhance shareholder value by improving certain key financial, operational, compensation and corporate governance metrics and by considering various strategic alternatives, including a restructuring of its key business segments. The Trian Group also looks forward to working constructively with the Issuer on various initiatives, such as enhancing operating margins to levels comparable to those achieved in peer businesses, considering the use of prudent amounts of leverage to increase the size of the Issuer’s stock repurchase program and taking additional steps to better align management compensation with the Issuer’s performance in order to enhance shareholder value and improving the Issuer’s corporate governance profile, including through the addition of several new independent directors to the Issuer’s Board of Directors.

 

The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer’s financial position, results and strategic direction, price levels of the Shares, the Issuer’s response to the matters to be discussed with the Reporting Persons, actions taken by management and the Board of Directors of the Issuer, other investment opportunities available to the Reporting Persons, conditions in the securities and capital markets, and general economic

 

18


and industry conditions, the Reporting Persons may, from time to time and at any time, in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, but not limited to: communicating with management, the Board, other stockholders, industry participants and other interested or relevant parties about the Issuer and about various other matters, including the operations, business, strategic plans, assets and capital structure of the Issuer or one or more of the other items described in subparagraphs (a)-(j) of Item 4 of Schedule 13D; requesting or proposing one or more nominees for election or appointment to the Board of Directors of the Issuer; purchasing additional securities of the Issuer in the open market or otherwise; entering into financial instruments or other agreements that increase or decrease the Reporting Persons’ economic exposure with respect to their investment in the Issuer; and/or engaging in any hedging or similar transactions with respect to such holdings. The Reporting Persons reserve the right to sell some or all of the Reporting Persons’ respective holdings in the Issuer in the open market or otherwise, at any time and from time to time, and/or to otherwise change their intention with respect to any and all matters referred to in Item 4 of Schedule 13D.

 

The Reporting Persons do not have any present plan or proposal that would relate to or result in any of the matters set forth in subparagraphs (a) –(j) of Item 4 of Schedule 13D, except as set forth herein or such as would occur upon completion of any of the actions discussed herein.

 

Item 5. Interest in Securities of the Issuer

(a) As of 4:00 pm, New York City time, on May 8, 2012, the Reporting Persons beneficially owned, in the aggregate, 21,885,406 Shares, representing approximately 7.33% of the Issuer’s outstanding Shares (calculated based on 298,724,314 Ordinary Shares outstanding as of April 13, 2012, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2012 (the “Form 10-Q”)). Such Shares include an aggregate of 14,283,769 Shares beneficially owned by the Reporting Persons through direct ownership of the Shares representing approximately 4.78% of the Issuer’s outstanding Shares, and an additional 7,601,637 Shares underlying the Options that are held by Trian Onshore, Trian Offshore and TPSIF representing approximately 2.54% of the Issuer’s outstanding Shares.

(b) Each of Trian Onshore, Trian Offshore, Parallel Fund I, Trian ERISA, TPSIF, Strategic Fund-A, Coinvest Fund-A, SPV VI and SPV VI-A beneficially and directly owns and has sole voting power and sole dispositive power with regard to: 2,298,601; 6,670,589; 335,832; 199,908; 2,958,664; 1,268,711; 1,178,550; 1,460,000; and 4,701,450 Shares (including the Shares underlying the Options), respectively, except to the extent that other Reporting Persons as described below may be deemed to have shared voting power and shared dispositive power with regard to such Shares.

Each of Trian Management, Trian Management GP, Nelson Peltz, Peter W. May and Edward P. Garden, by virtue of their relationships to Trian Onshore, Trian Offshore, Parallel Fund I, Trian ERISA, TPSIF, Strategic Fund-A, Coinvest Fund-A, SPV VI and SPV VI-A (discussed in Item 2), may be deemed to have shared voting power and shared dispositive power with regard to, and therefore may be deemed to beneficially own (as that term is defined in Rule 13d-3), the Shares (including Shares underlying the Options) that Trian Onshore, Trian Offshore, Parallel Fund I, Trian ERISA, TPSIF, Strategic Fund-A, Coinvest Fund-A, SPV VI and SPV VI-A directly and beneficially own. Each of Trian Management, Trian Management GP, Nelson Peltz, Peter W. May and Edward P. Garden disclaims beneficial ownership of such Shares for all other purposes.

CalSTRS has the sole power to vote or direct the vote of 813,101 Shares (the “CalSTRS Shares”) and the sole power to dispose of or direct the disposition of 555,343 of the CalSTRS Shares. With respect to the other 257,758 CalSTRS Shares, the power to dispose or to direct the disposition of such Shares is shared with certain of its external managers, as follows: (i) 222,884 CalSTRS Shares with BlackRock Institutional Trust Company, N.A, and (ii) 34,874 CalSTRS Shares with State Street Bank and Trust Company.

CalSTRS has been informed by BlackRock Institutional Trust Company, N.A. (“BlackRock”) that its principal business is to provide diversified investment management and securities lending services to institutional clients, intermediary and individual investors through various investment vehicles and that its business address is 400 Howard Street, San Francisco, CA 94105. In addition, BlackRock has further

 

19


informed CalSTRS that on March 8, 2012, BlackRock entered into an Offer of Settlement (the "Agreement") with the Commodity Futures Trading Commission (“CFTC”) and consented to the entry of an Order, which makes findings and imposes remedial sanctions against BlackRock.  Without admitting or denying wrongdoing, BlackRock agreed to the imposition of a $250,000 penalty and the entry of the Order to resolve allegations by the CFTC that two trades by BlackRock violated Section 4c(a)(1) of the Commodity Exchange Act and CFTC Regulation 1.38(a).   Blackrock also agreed to refrain from any further violations of the above-mentioned statutory provisions.  The CFTC did not allege, nor find, that any clients of BlackRock or any related affiliate were harmed in any way. Other than the Agreement, during the last five years, BlackRock has not been (i) convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors) or (ii) a party to any other civil proceeding of a judicial or administrative body of competent jurisdiction, and as a result of such proceeding, was or is the subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

CalSTRS has been informed by State Street Bank and Trust Company (“State Street”) that its principal business is to provide a broad range of financial products and services to institutional investors worldwide, including its transition management services.  Its principal business address is 1 Lincoln Street, Boston, MA 02111.  CalSTRS has been further informed by State Street Bank and Trust Company that on February 4, 2010, the U.S. Securities and Exchange Commission (“SEC”) issued an administrative order in which it ordered State Street to cease and desist from committing or causing any violations, and any future violations of Section 17(a)(2) and Section 17(a)(3) of the Securities Act of 1933.  The order was entered in connection with the resolution of the SEC’s investigation into losses incurred by and disclosures made around certain active fixed-income strategies managed by State Street Global Advisors (SSgA) during 2007 and earlier periods.  In reaching these settlements, State Street neither admitted nor denied the allegations made by the SEC. Other than the Order, during the last five years, State Street Bank and Trust Company has not been (i) convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors) or (ii) a party to any other civil proceeding of a judicial or administrative body of competent jurisdiction, and as a result of such proceeding, was or is the subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

The Trian Group does not have the right to vote or dispose of any of the CalSTRS Shares, nor is any member of the Trian Group a party to any contracts, arrangements or understandings with respect to such Shares. As a result, each member of the Trian Group disclaims beneficial ownership of the CalSTRS Shares for all purposes.

(c) Schedule A hereto (which is incorporated by reference in this Item 5 as if restated in full herein) sets forth all transactions with respect to the Shares effected during the past sixty (60) days by any of the Reporting Persons, inclusive of the transactions effected through 4:00 pm, New York City time, on May 8, 2012.

(d) No person other than the Trian Group is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Shares beneficially owned by the Trian Group. Except with respect to the 257,758 CalSTRS Shares it beneficially owned in accounts managed by external managers as disclosed in (b) above, no other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Shares covered by this statement beneficially owned by CalSTRS.

Item 6. Contracts, Arrangements, Understandings or Relationship with Respect to Securities of the Issuer

In addition to the Options referenced in Item 3 above, the Reporting Persons may from time to time enter into and dispose of additional Options or other similar derivative transactions with one or more counterparties that are based upon the value of the Shares, which transactions could be significant in amount. The profit, loss and/or return on such additional contracts may be wholly or partially dependent on the market value of the Shares, relative value of the Shares in comparison to one or more other financial

 

20


instruments, indexes or securities, a basket or group of securities in which the Shares may be included or a combination of any of the foregoing.

Trian Partners SPV VI GP, L.P. (“Trian SPV VI GP”) is the Managing General Partner and Trian Partners Cayman, Ltd. is the Administrative General Partner of SPV VI pursuant to the Third Amended and Restated Limited Partnership Agreement of Trian SPV (SUB) VI, L.P., dated March 29, 2012 (the “Trian SPV VI Partnership Agreement”). The sole Limited Partner is Trian SPV VI, L.P. Pursuant to the Trian SPV VI Partnership Agreement, Trian SPV VI GP is entitled to a portion of the appreciation in the value of the Shares. The foregoing description of the Trian SPV VI Partnership Agreement is a summary only and is qualified in its entirety by reference to the Trian SPV VI Partnership Agreement, which is filed as Exhibit 2 hereto and incorporated herein by reference.

Trian Partners SPV VI-A GP, L.P. (“Trian SPV VI-A GP”) is the Managing General Partner and Trian Partners Cayman, Ltd. is the Administrative General Partner of SPV VI-A pursuant to the Amended and Restated Limited Partnership Agreement of Trian SPV (SUB) VI-A, L.P., dated April 30,2012 (the “Trian SPV VI-A Partnership Agreement”). The sole Limited Partner is Trian SPV VI-A, L.P. Pursuant to the Trian SPV VI-A Partnership Agreement, Trian SPV VI-A GP is entitled to a portion of the appreciation in the value of the Shares. The foregoing description of the Trian SPV VI-A Partnership Agreement is a summary only and is qualified in its entirety by reference to the Trian SPV VI-A Partnership Agreement, which is filed as Exhibit 3 hereto and incorporated herein by reference.

Except as described herein (including, without limitation, Items 3 and 4 above, which are incorporated by reference in this Item 6 as if restated in full herein), none of the Reporting Persons has any contracts, arrangements, understandings or relationships (legal or otherwise) with any person with respect to any securities of the Issuer, including but not limited to the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies.

Item 7. Material to be Filed as Exhibits

1. Joint Filing Agreement of the Reporting Persons.
   
2.The Third Amended and Restated Limited Partnership Agreement of Trian SPV (SUB) VI, L.P., dated March 29, 2012.
3.Amended and Restated Limited Partnership Agreement of Trian SPV (SUB) VI-A, L.P., dated April 30, 2012.

 

 

[INTENTIONALLY LEFT BLANK]

 

 

 

 

21


SIGNATURE

After reasonable inquiry and to the best of each of the undersigned knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: May 8, 2012

 

TRIAN FUND MANAGEMENT, L.P.

By: Trian Fund Management GP, LLC, its

general partner

 

 

By: /s/ EDWARD P.GARDEN

Name: Edward P. Garden

Title: Member

 

 

TRIAN FUND MANAGEMENT GP, LLC

 

 

By: /s/ EDWARD P.GARDEN

Name: Edward P. Garden

Title: Member

 

 

TRIAN PARTNERS, L.P.

By: Trian Partners GP, L.P., its general partner

By: Trian Partners General Partner, LLC,

its general partner

 

 

By: /s/ EDWARD P.GARDEN

Name: Edward P. Garden

Title: Member

 

 

TRIAN PARTNERS MASTER FUND, L.P.

By: Trian Partners GP, L.P., its general partner

By: Trian Partners General Partner, LLC,

its general partner

 

 

By: /s/ EDWARD P.GARDEN

Name: Edward P. Garden

Title: Member

 

 

TRIAN PARTNERS MASTER FUND (ERISA), L.P.

By: Trian Partners (ERISA) GP, L.P., its general partner

By: Trian Partners (ERISA) General Partner, LLC, its general partner

 

By: /s/ EDWARD P.GARDEN

Name: Edward P. Garden

Title: Member

 

 

 

22


 

TRIAN PARTNERS PARALLEL FUND I, L.P.

By: Trian Partners Parallel Fund I

General Partner, LLC, its general partner

 

 

By: /s/ EDWARD P.GARDEN

Name: Edward P. Garden

Title: Member

 

 

 

TRIAN SPV (SUB) VI, L.P.

By: Trian Partners SPV VI GP, L.P., its general partner

By: Trian Partners SPV VI General Partner, LLC, its general partner

 

 

By: /s/ EDWARD P.GARDEN

Name: Edward P. Garden

Title: Member

 

 

 

 

TRIAN SPV (SUB) VI-A, L.P.

By: Trian Partners SPV VI-A GP, L.P., its general partner

By: Trian Partners SPV VI-A General Partner, LLC, its general partner

 

 

By: /s/ EDWARD P.GARDEN

Name: Edward P. Garden

Title: Member

 

 

 

 

TRIAN PARTNERS STRATEGIC INVESTMENT FUND-A, L.P.

By: Trian Partners Strategic Investment Fund-A GP, L.P., its general partner

By: Trian Partners Strategic Investment Fund-A General Partner LLC., its general partner

 

 

By: /s/ EDWARD P.GARDEN

Name: Edward P. Garden

Title: Member

 

 

 

 

 

 

 

 

 

23


 

TRIAN PARTNERS STRATEGIC CO-INVESTMENT FUND–A, L.P.

By: Trian Partners Strategic Co-Investment

Fund-A GP, L.P.

its general partner

By: Trian Partners Strategic Co-Investment Fund-A General Partner, LLC., its general partner

 

 

By: /s/ EDWARD P.GARDEN

Name: Edward P. Garden

Title: Member

 

 

 

TRIAN PARTNERS STRATEGIC INVESTMENT FUND, L.P.

By: Trian Partners Strategic Investment

Fund GP, L.P., its general partner

By: Trian Partners Strategic Investment

Fund General Partner, LLC,

its general partner

 

 

By: /s/ EDWARD P.GARDEN

Name: Edward P. Garden

Title: Member

 

 

 

/s/ NELSON PELTZ

NELSON PELTZ

 

 

 

/s/ PETER W. MAY

PETER W. MAY

 

 

 

/s/ EDWARD P. GARDEN

EDWARD P. GARDEN

 

 

   

CALIFORNIA STATE TEACHERS’ RETIREMENT SYSTEM

 

 

 

By: /s/ DEBRA SMITH___________________
Name: Debra M. Smith
Title: Director of Investment Operations

     
     

 

24


 

Schedule A

 

The following table sets forth all transactions with respect to the Shares affected during the past 60 days by any of the Reporting Persons, inclusive of any transactions effected through 4:00 p.m., New York City time, on May 8, 2012. Except as otherwise noted, all such transactions in the table were effected in the open market, and the table includes commissions paid in per share prices.

Name   Date    Shares   Price   Type
                 
Trian Partners Master Fund, L.P.   3/9/2012         206,259   39.3749   Purchase*
Trian Partners Master Fund, L.P.   3/12/2012         157,140   39.8961   Purchase*
Trian Partners Master Fund, L.P.   3/13/2012         191,817   40.4264   Purchase*
Trian Partners Master Fund, L.P.   3/14/2012         246,822   40.0782   Purchase*
Trian Partners Master Fund, L.P.   3/15/2012         108,430   40.5245   Purchase*
Trian Partners Master Fund, L.P.   3/16/2012         197,458   41.1672   Purchase*
Trian Partners Master Fund, L.P.   3/19/2012         209,612   40.8710   Purchase*
Trian Partners Master Fund, L.P.   3/20/2012         212,223   40.4711   Purchase*
Trian Partners Master Fund, L.P.   3/21/2012         218,095   40.6394   Purchase*
Trian Partners Master Fund, L.P.   3/22/2012         242,358   40.3483   Purchase*
Trian Partners Master Fund, L.P.   3/23/2012         226,324   40.2922   Purchase*
Trian Partners Master Fund, L.P.   3/26/2012   94,807   41.3495   Purchase*
Trian Partners Master Fund, L.P.   3/27/2012   12,269   41.5142   Purchase*
Trian Partners Master Fund, L.P.   3/28/2012         240,407   40.8645   Purchase*
Trian Partners Master Fund, L.P.   3/29/2012         152,554   40.8249   Purchase*
Trian Partners Master Fund, L.P.   3/30/2012         294,065   41.3879   Purchase*
Trian Partners Master Fund, L.P.   4/27/2012         162,059   42.1484   Purchase#
Trian Partners Master Fund, L.P.   5/4/2012         144,674   42.0472   Purchase#
Trian Partners Master Fund, L.P.   5/7/2012         346,736   42.5189   Purchase#
                 
Trian Partners Master Fund (ERISA), L.P.   3/9/2012     6,293   39.3749   Purchase
Trian Partners Master Fund (ERISA), L.P.   3/12/2012     4,794   39.8961   Purchase
Trian Partners Master Fund (ERISA), L.P.   3/13/2012     5,852   40.4264   Purchase
Trian Partners Master Fund (ERISA), L.P.   3/14/2012     7,530   40.0782   Purchase
Trian Partners Master Fund (ERISA), L.P.   3/15/2012     3,308   40.5245   Purchase
Trian Partners Master Fund (ERISA), L.P.   3/16/2012     6,024   41.1672   Purchase
Trian Partners Master Fund (ERISA), L.P.   3/19/2012     6,395   40.8710   Purchase
Trian Partners Master Fund (ERISA), L.P.   3/20/2012     6,474   40.4711   Purchase
Trian Partners Master Fund (ERISA), L.P.   3/21/2012     6,658   40.6394   Purchase
Trian Partners Master Fund (ERISA), L.P.   3/22/2012     7,399   40.3483   Purchase
Trian Partners Master Fund (ERISA), L.P.   3/23/2012     6,909   40.2922   Purchase
Trian Partners Master Fund (ERISA), L.P.   3/26/2012     2,894   41.3495   Purchase
Trian Partners Master Fund (ERISA), L.P.   3/27/2012        375   41.5142   Purchase
Trian Partners Master Fund (ERISA), L.P.   3/28/2012     7,342   40.8645   Purchase
Trian Partners Master Fund (ERISA), L.P.   3/29/2012     4,659   40.8249   Purchase
Trian Partners Master Fund (ERISA), L.P.   3/30/2012     8,980   41.3879   Purchase
Trian Partners Master Fund (ERISA), L.P.   4/27/2012     1,827   42.1484   Purchase
Trian Partners Master Fund (ERISA), L.P.   5/4/2012     4,216   42.0472   Purchase
Trian Partners Master Fund (ERISA), L.P.   5/7/2012   10,105   42.5189   Purchase
                 
Trian Partners Strategic Investment Fund, L.P.   3/9/2012   86,491   39.3749   Purchase
Trian Partners Strategic Investment Fund, L.P.   3/12/2012   65,894   39.8961   Purchase

 

25


Trian Partners Strategic Investment Fund, L.P.   3/13/2012   80,435   40.4264   Purchase
Trian Partners Strategic Investment Fund, L.P.   3/14/2012         103,500   40.0782   Purchase
Trian Partners Strategic Investment Fund, L.P.   3/15/2012   45,468   40.5245   Purchase
Trian Partners Strategic Investment Fund, L.P.   3/16/2012   82,800   41.1672   Purchase*
Trian Partners Strategic Investment Fund, L.P.   3/19/2012   87,897   40.8710   Purchase*
Trian Partners Strategic Investment Fund, L.P.   3/20/2012   88,992   40.4711   Purchase*
Trian Partners Strategic Investment Fund, L.P.   3/21/2012   92,071   40.6394   Purchase*
Trian Partners Strategic Investment Fund, L.P.   3/22/2012         102,314   40.3483   Purchase*
Trian Partners Strategic Investment Fund, L.P.   3/23/2012   95,544   40.2922   Purchase*
Trian Partners Strategic Investment Fund, L.P.   3/26/2012   40,024   41.3495   Purchase*
Trian Partners Strategic Investment Fund, L.P.   3/27/2012     5,179   41.5142   Purchase*
Trian Partners Strategic Investment Fund, L.P.   3/28/2012         108,201   40.8645   Purchase*
Trian Partners Strategic Investment Fund, L.P.   3/29/2012   68,661   40.8249   Purchase*
Trian Partners Strategic Investment Fund, L.P.   3/30/2012         132,351   41.3879   Purchase*
Trian Partners Strategic Investment Fund, L.P.   5/4/2012   65,874   42.0472   Purchase#
Trian Partners Strategic Investment Fund, L.P.   5/7/2012         169,073   42.5189   Purchase#
                 
Trian Partners, L.P.   3/9/2012   72,208   39.3749   Purchase
Trian Partners, L.P.   3/12/2012   55,011   39.8961   Purchase
Trian Partners, L.P.   3/13/2012   67,150   40.4264   Purchase
Trian Partners, L.P.   3/14/2012   86,407   40.0782   Purchase
Trian Partners, L.P.   3/15/2012   37,959   40.5245   Purchase
Trian Partners, L.P.   3/16/2012   69,126   41.1672   Purchase
Trian Partners, L.P.   3/19/2012   73,379   40.8710   Purchase
Trian Partners, L.P.   3/20/2012   74,295   40.4711   Purchase
Trian Partners, L.P.   3/21/2012   76,383   40.6394   Purchase
Trian Partners, L.P.   3/22/2012   84,880   40.3483   Purchase
Trian Partners, L.P.   3/23/2012   79,264   40.2922   Purchase*
Trian Partners, L.P.   3/26/2012   33,204   41.3495   Purchase*
Trian Partners, L.P.   3/27/2012     4,297   41.5142   Purchase*
Trian Partners, L.P.   3/28/2012   84,212   40.8645   Purchase*
Trian Partners, L.P.   3/29/2012   53,438   40.8249   Purchase*
Trian Partners, L.P.   3/30/2012         103,008   41.3879   Purchase*
Trian Partners, L.P.   4/27/2012   21,542   42.1484   Purchase#
Trian Partners, L.P.   5/4/2012   49,838   42.0472   Purchase#
Trian Partners, L.P.   5/7/2012         119,446   42.5189   Purchase#
                 
Trian Partners Strategic Investment Fund-A, L.P.   3/9/2012   36,019   39.3749   Purchase

 

26


Trian Partners Strategic Investment Fund-A, L.P.   3/12/2012   27,442   39.8961   Purchase
Trian Partners Strategic Investment Fund-A, L.P.   3/13/2012   33,497   40.4264   Purchase
Trian Partners Strategic Investment Fund-A, L.P.   3/14/2012   43,103   40.0782   Purchase
Trian Partners Strategic Investment Fund-A, L.P.   3/15/2012   18,935   40.5245   Purchase
Trian Partners Strategic Investment Fund-A, L.P.   3/16/2012   34,482   41.1672   Purchase
Trian Partners Strategic Investment Fund-A, L.P.   3/19/2012   36,605   40.8710   Purchase
Trian Partners Strategic Investment Fund-A, L.P.   3/20/2012   37,061   40.4711   Purchase
Trian Partners Strategic Investment Fund-A, L.P.   3/21/2012   45,558   40.6394   Purchase
Trian Partners Strategic Investment Fund-A, L.P.   3/22/2012   50,627   40.3483   Purchase
Trian Partners Strategic Investment Fund-A, L.P.   3/23/2012   47,277   40.2922   Purchase
Trian Partners Strategic Investment Fund-A, L.P.   3/26/2012   19,805   41.3495   Purchase
Trian Partners Strategic Investment Fund-A, L.P.   3/27/2012     2,562   41.5142   Purchase
Trian Partners Strategic Investment Fund-A, L.P.   3/28/2012   47,510   40.8645   Purchase
Trian Partners Strategic Investment Fund-A, L.P.   3/29/2012   30,148   40.8249   Purchase
Trian Partners Strategic Investment Fund-A, L.P.   3/30/2012   58,115   41.3879   Purchase
Trian Partners Strategic Investment Fund-A, L.P.   5/4/2012   28,274   42.0472   Purchase
Trian Partners Strategic Investment Fund-A, L.P.   5/7/2012   72,567   42.5189   Purchase
                 
Trian Partners Parallel Fund I, L.P.   3/9/2012   10,561   39.3749   Purchase
Trian Partners Parallel Fund I, L.P.   3/12/2012     8,046   39.8961   Purchase
Trian Partners Parallel Fund I, L.P.   3/13/2012     9,822   40.4264   Purchase
Trian Partners Parallel Fund I, L.P.   3/14/2012   12,638   40.0782   Purchase
Trian Partners Parallel Fund I, L.P.   3/15/2012     5,552   40.5245   Purchase
Trian Partners Parallel Fund I, L.P.   3/16/2012   10,110   41.1672   Purchase
Trian Partners Parallel Fund I, L.P.   3/19/2012   10,733   40.8710   Purchase
Trian Partners Parallel Fund I, L.P.   3/20/2012   10,866   40.4711   Purchase
Trian Partners Parallel Fund I, L.P.   3/21/2012   11,178   40.6394   Purchase
Trian Partners Parallel Fund I, L.P.   3/22/2012   12,422   40.3483   Purchase
Trian Partners Parallel Fund I, L.P.   3/23/2012   11,600   40.2922   Purchase
Trian Partners Parallel Fund I, L.P.   3/26/2012     4,859   41.3495   Purchase
Trian Partners Parallel Fund I, L.P.   3/27/2012        629   41.5142   Purchase
Trian Partners Parallel Fund I, L.P.   3/28/2012   12,328   40.8645   Purchase
Trian Partners Parallel Fund I, L.P.   3/29/2012     7,823   40.8249   Purchase
Trian Partners Parallel Fund I, L.P.   3/30/2012   15,079   41.3879   Purchase
Trian Partners Parallel Fund I, L.P.   4/27/2012     3,075   42.1484   Purchase
Trian Partners Parallel Fund I, L.P.   5/4/2012     7,124   42.0472   Purchase
Trian Partners Parallel Fund I, L.P.   5/7/2012   17,073   42.5189   Purchase
                 

 

27


Trian Partners SPV (SUB) VI, L.P.   4/4/2012         385,000   41.0556   Purchase
Trian Partners SPV (SUB) VI, L.P.   4/5/2012         700,000   40.9986   Purchase
Trian Partners SPV (SUB) VI, L.P.   4/9/2012         300,000   39.999   Purchase
Trian Partners SPV (SUB) VI, L.P.   4/10/2012   75,000   39.3571   Purchase
                 
Trian Partners SPV (SUB) VI-A, L.P.   4/30/2012         740,000   42.6725   Purchase
Trian Partners SPV (SUB) VI-A, L.P.   5/1/2012      1,010,554   43.2187   Purchase
Trian Partners SPV (SUB) VI-A, L.P.   5/2/2012      1,080,043   42.5658   Purchase
Trian Partners SPV (SUB) VI-A, L.P.   5/3/2012      1,239,354   42.1656   Purchase
Trian Partners SPV (SUB) VI-A, L.P.   5/4/2012         631,499   41.8128   Purchase
                 
Trian Partners Strategic Co-Investment Fund-A, L.P. 5/1/2012         299,746   43.2187   Purchase
Trian Partners Strategic Co-Investment Fund-A, L.P. 5/2/2012         320,357   42.5658   Purchase
Trian Partners Strategic Co-Investment Fund-A, L.P. 5/3/2012         369,946   42.1656   Purchase
Trian Partners Strategic Co-Investment Fund-A, L.P. 5/4/2012         188,501   41.8128   Purchase
                 
California State Teachers’ Retirement System   03/13/2012   200   40.620   Purchase
California State Teachers’ Retirement System   03/13/2012   281   40.605   Purchase
California State Teachers’ Retirement System   03/15/2012   37,500   40.350   Purchase
California State Teachers’ Retirement System   03/15/2012   37,500   40.350   Sale
California State Teachers’ Retirement System   03/19/2012   35,843   40.769   Sale
California State Teachers’ Retirement System   03/20/2012   1,400   40.404   Sale
California State Teachers’ Retirement System   03/21/2012   257   40.658   Sale
California State Teachers’ Retirement System   03/26/2012   200   41.650   Purchase
California State Teachers’ Retirement System   03/28/2012   2,017   41.490   Sale
California State Teachers’ Retirement System   03/28/2012   200   40.820   Purchase
California State Teachers’ Retirement System   03/28/2012   2,017   41.490   Purchase
California State Teachers’ Retirement System   03/29/2012   3,883   40.901   Purchase
California State Teachers’ Retirement System   03/30/2012   1,800   41.350   Sale
California State Teachers’ Retirement System   04/05/2012   10,254   40.902   Sale
California State Teachers’ Retirement System   04/05/2012   5,900   41.210   Sale
California State Teachers’ Retirement System   04/05/2012   5,900   41.210   Purchase
California State Teachers’ Retirement System   04/11/2012   500   39.066   Purchase
California State Teachers’ Retirement System   04/12/2012   900   40.240   Purchase
California State Teachers’ Retirement System   04/25/2012   200   41.990   Purchase
California State Teachers’ Retirement System   04/26/2012   259   41.535   Purchase
California State Teachers’ Retirement System   04/30/2012   400   42.515   Purchase
California State Teachers’ Retirement System   05/03/2012   100   42.040   Purchase
California State Teachers’ Retirement System   05/07/2012   6,791   42.256   Sell

 

*On the various dates set forth above, and as more fully described below, the named persons entered into a series of privately negotiated back-to-back call and put transactions (the “Options”) with Nomura International plc (the “Counterparty”) through which they acquired beneficial ownership of an aggregate of 6,522,395 Shares and as a result of which such named persons are subject to the same economic gain or loss as if they had purchased the underlying Shares. More specifically, these transactions represent call options pursuant to which, on or prior to earlier of (i) 2 years after the date of the last purchase under the applicable confirm and (ii) June 1, 2014 (the “Initial Expiration Date”), provided that such Initial Expiration date may be automatically extended for 2 years by the Counterparty

 

28


 

unless the requisite prior notice not to extend is given (the “Exercise Date”), provided that the named person may acquire the number of Shares set forth above at the Price Per Share set forth above (the “Exercise Price”). These call options may be exercised at any time, in whole or in part, on or prior to the Exercise Date. Simultaneously with the purchase of each call option, the named person also sold a put option to the Counterparty for the same number of Shares pursuant to which, if on the Exercise Date the call options have not been exercised by the named person and the Exercise Price is greater than the closing price of the Shares on the Exercise Date (the “Closing Price”), the Counterparty may require the named person to, at such person’s election, either (i) pay the Counterparty an amount in cash equal to the product of (a) the excess of the Exercise Price over the Closing Price and (b) the number of Shares set forth above or (ii) acquire from the Counterparty the number of Shares set forth above at the Exercise Price. As part of these transactions, each of the named persons pays the Counterparty a financing fee based on the number of days that the Options that it holds are outstanding, which fee is calculated using a monthly rate equal to one month LIBOR plus a spread. Until they are exercised, the Options do not give the Reporting Persons direct or indirect voting, investment or dispositive control over the underlying Shares.

 

 

 

 

# On the various dates set forth above, and as more fully described below, the named persons entered into a series of privately negotiated back-to-back call and put transactions (the “Options”) with Bank of America Merrill Lynch (the “Counterparty 2”) through which they acquired beneficial ownership of an aggregate of 1,079,242 Shares and as a result of which such named persons are subject to the same economic gain or loss as if they had purchased the underlying Shares. More specifically, these transactions represent call options pursuant to which, on or prior to October 31, 2013 (provided that such date may be automatically extended by the Counterparty for 18 months unless prior to October 31, 2013 the requisite prior notice not to extend is given, the “Exercise Date”), provided that the named person may acquire the number of Shares set forth above at the Price Per Share set forth above (the “Exercise Price”). These call options may be exercised at any time, in whole or in part, on or prior to the Exercise Date. Simultaneously with the purchase of each call option, the named person also sold a put option to the Counterparty for the same number of Shares pursuant to which, if on the Exercise Date the call options have not been exercised by the named person and the Exercise Price is greater than the closing price of the Shares on the Exercise Date (the “Closing Price”), the Counterparty may require the named person to, at such person’s election, either (i) pay the Counterparty an amount in cash equal to the product of (a) the excess of the Exercise Price over the Closing Price and (b) the number of Shares set forth above or (ii) acquire from the Counterparty the number of Shares set forth above at the Exercise Price. As part of these transactions, each of the named persons pays the Counterparty a financing fee based on the number of days that the Options that it holds are outstanding, which fee is calculated using a monthly rate equal to one month LIBOR plus a spread. Until they are exercised, the Options do not give the Reporting Persons direct or indirect voting, investment or dispositive control over the underlying Shares.

 

29