SEC FORM 4

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^*

Blanchard Cheryl R

(Last)

(First)

(Middle)

C/O ZIMMER, INC.

P. O. BOX 708

(Street)

WARSAW

46580

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
ZIMMER HOLDINGS INC [ ZMH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Sr. VP, Chief Scientific Off.

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2007

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	01/30/2007		M		407⁽²⁾	A	$31.52	1,171⁽¹⁾	D
Common Stock	01/30/2007		S		407⁽²⁾	D	$83.56	764⁽¹⁾	D
Common Stock	01/30/2007		M		6,099⁽²⁾	A	$30.88	6,863⁽¹⁾	D
Common Stock	01/30/2007		S		6,099⁽²⁾	D	$83.56	764⁽¹⁾	D
Common Stock	01/30/2007		M		5,100⁽²⁾	A	$30.88	5,864⁽¹⁾	D
Common Stock	01/30/2007		S		5,100⁽²⁾	D	$84	764⁽¹⁾	D
Common Stock	01/30/2007		M		2,250⁽²⁾	A	$29.35	3,014⁽¹⁾	D
Common Stock	01/30/2007		S		2,250⁽²⁾	D	$84.23	764⁽¹⁾	D
Common Stock								416⁽³⁾	I	By 401(k) Plan

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (right to buy)	$31.52	01/30/2007		M			407⁽²⁾	⁽⁴⁾	01/05/2011	Common Stock	407	$0	0	D
Employee Stock Option (right to buy)	$30.88	01/30/2007		M			6,099⁽²⁾	⁽⁵⁾	03/05/2011	Common Stock	6,099	$0	5,100	D
Employee Stock Option (right to buy)	$30.88	01/30/2007		M			5,100⁽²⁾	⁽⁵⁾	03/05/2011	Common Stock	5,100	$0	0	D
Employee Stock Option (right to buy)	$29.35	01/30/2007		M			2,250⁽²⁾	⁽⁶⁾	08/07/2011	Common Stock	2,250	$0	0	D

Explanation of Responses:

1. Includes 352 shares acquired under the Zimmer Holdings, Inc. Employee Stock Purchase Plan for the offering periods ended June 30, 2005, December 31, 2005, June 30, 2006 and December 31, 2006.

2. Securities acquired or sold pursuant to a written plan intended to comply with Rule 10b5-1(c) adopted by Ms. Blanchard.

3. This figure is based upon a Zimmer Holdings, Inc. 401(k) Plan statement dated January 3, 2007.

4. 136 of the options vested on each of January 5, 2004 and 2005; 135 options vested on January 5, 2006.

5. The options vested in four equal installments on March 6, 2002, 2003, 2004 and 2005.

6. 562 options vested on August 7, 2002; 563 options vested on August 7, 2003; 562 options vested on August 7, 2004; and 563 options vested on August 7, 2005.

Remarks:

	Heather J. Kidwell, Attorney-in-Fact for Cheryl R. Blanchard (power of attorney attached)	01/31/2007
	** 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).
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