UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
PIRAINO, THOMAS A.
6035 PARKLAND BOULEVARD
CLEVELAND, OH 44124-4141
USA
2. Issuer Name and Ticker or Trading Symbol
PARKER-HANNIFIN CORPORATION
PH
3. IRS or Social Security Number of Reporting Person (Voluntary)
274-44-6268
4. Statement for Month/Year
May 31, 2001
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
VICE PRESIDENT
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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Common Stock | | | | | | |3,824.155(1) |I |(1) |
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Common Stock |5/18/0|M | |3,975(2) |A |$20.167 |1,666 |D | |
|1 | | | | | | | | |
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Common Stock |5/18/0|F | |1,350 |D |$49.4450 |1,666 |D | |
|1 | | | | | | | | |
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Common Stock |5/18/0|S | |2,625 |D |$49.06 |1,666 | | |
|1 | | | | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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Phantom Stock Units |1-for-1 | | | | | | | | | | |893.812(3) |I |(3) |
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Option to Buy |$20.167 |5/18/|M | |6,750 |A |2/2/9|2/1/0|Common Stock|6,750 |(4) |0(5) |D | |
| |01 | | | | |7 |6 | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) Parker Retirement Savings Plan, as of March 31, 2001, the latest date for
which information is available.
(2) "Pyramid" stock option exercising resulting in net acqusition of 3,975
shares.
(3) Savings Restoration Plan, as of March 30, 2001, the latest date for which
informaiton is available.
(4) Granted under the Corporation's 1993 Stock Incentive Program in a
transaction exempt under Rule 16b-3.
(5) Mr. Piraino owns 41,780 additional options granted pursuant to the
Corporation's 1993 Stock Incentive Program
at various exercise prices and expiration dates as previously
reported.
SIGNATURE OF REPORTING PERSON
Thomas L. Meyer, Attorney-in-Fact
DATE
June 11, 2001