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*
LOPEZ GEORGE A
(Last) (First) (Middle)
951 CALLE AMANECER
(Street)
SAN CLEMENTE CA 92673
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
ICU MEDICAL INC/DE [ ICUI ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) X Other (specify below)
Chairman Chairman
3. Date of Earliest Transaction (Month/Day/Year)
10/13/2006
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 10/13/2006 X 27,444 A $5.5417 41,466 D
Common Stock 10/13/2006 10/13/2006 S 1,444 D $48 40,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.0008 39,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.0009 38,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.0033 37,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.007 36,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.0248 35,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.0301 34,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.0351 33,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.0365 32,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.0496 31,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.052 30,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.0571 29,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.0658 28,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.0715 27,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.0794 26,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.0881 25,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.0954 24,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.1007 23,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.1038 22,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.1219 21,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.1256 20,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.1264 19,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.1321 18,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.1468 17,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.1505 16,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.1709 15,022 D
Common Stock 10/13/2006 10/13/2006 S 1,000 D $48.1902 14,022 D
Common Stock 1,186,843 I by Partnership(1)
Common Stock 23,223 I by Trust(2)
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
Non-Qualified Stock Option (right to buy) $5.5417 10/13/2006 X 27,444 01/30/1999 01/31/2008 Common Stock 27,444 (3) 3,845 D
Explanation of Responses:
1. Excludes 22,959 shares held by Diana K. Lopez, M.D. Dr. Lopez disclaims any beneficial interest in the shares held by his wife.
2. Common Stock owned by Lopez Family Trust. Dr. Lopez is trustee and beneficiary of the Family Trust. Except to the extent of his peciuniary interests as beneficiary of the Family Trust, Dr. Lopez disclaims any beneficial ownership of the shares owned by the Family Trust.
3. Transaction is the exercise of a derivative security; see Column 2.
By: Lynn DeMartini For: George A. Lopez, M.D. 10/16/2006
** 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.