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
                                                                                  
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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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

BEGLEY CHRISTOPHER B 		2. Issuer Name and Ticker or Trading Symbol

HOSPIRA INC [ HSP ] 		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
(Last)          (First)          (Middle)

C/O HOSPIRA, INC., 275 N. FIELD DRIVE 		3. Date of Earliest Transaction (MM/DD/YYYY)

2/24/2011
(Street)

LAKE FOREST, IL 60045
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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   2/24/2011     M (1)    10804   A   (1) 226942   D    
Common Stock   2/24/2011     A (2)    34496   A $0   261438   D    
Common Stock   2/24/2011     F    15966   D $52.46   245472   D    
Common Stock                  27695   I   See Note   (3)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 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
Option (right to buy)   $52.61   2/24/2011     A      130124         (4) 2/23/2018   Common Stock   130124   $0   130124   D    
Performance Units - 2009 grant     (5) 2/24/2011     A      24807.75         (5)   (5) Common Stock   24807.75     (5) 49615.50   D    
Performance Units - 2008 grant     (1) 2/24/2011     M         10804      (1)   (1) Common Stock   10804   $0   0   D    

Explanation of Responses:
( 1)  These 2008 performance share units were previously earned under Hospira's 2004 Long-Term Stock Incentive Plan, as amended, and were reported in Table II as a derivative security. They were still subject to time vesting at that time, but have now vested. Upon vesting, the officer was paid one share of Hospira common stock for each vested unit. See footnote 5 for a more detailed description of Hospira's performance share unit program.
( 2)  These performance share units were awarded under Hospira's 2004 Long-Term Stock Incentive Plan, as amended, in 2008. Upon satisfaction of the performance criteria described in footnote 5, each unit vested and was paid to the officer with one share of Hospira common stock.
( 3)  Balance in the Hospira 401(k) Stock Retirement Plan as of February 25, 2011.
( 4)  Vests in four equal annual installments on February 24, 2012, 2013, 2014, and 2015.
( 5)  Performance units earned under Hospira's 2004 Long-Term Stock Incentive Plan, as amended, based on Hospira's total shareholder return compared to the total shareholder return of a pre-selected peer group over a three year performance period. The base price of common stock of Hospira and each member of the peer group is the average of the closing prices for the last 30 trading days before the relevant performance period. These units will vest after the three-year performance period ends on January 1, 2014. Performance units are payable with one share of Hospira's common stock for each vested unit.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
BEGLEY CHRISTOPHER B
C/O HOSPIRA, INC.
275 N. FIELD DRIVE
LAKE FOREST, IL 60045 		X
Chairman and CEO

Signatures
Deborah Koenen, attorney in fact 2/28/2011
** 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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