Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
PANNIER DAVID R
  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
(Last)
(First)
(Middle)
C/O TRANE INC., ONE CENTENNIAL AVENUE
3. Date of Earliest Transaction (Month/Day/Year)
06/05/2008
(Street)

PISCATAWAY, NJ 08855
4. If Amendment, Date 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
(City)
(State)
(Zip)
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)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities
(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 of Derivative Security: 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  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
PANNIER DAVID R
C/O TRANE INC.
ONE CENTENNIAL AVENUE
PISCATAWAY, NJ 08855
      Vice President  

Signatures

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

Explanation of Responses:

* 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).
(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.

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