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 *
BORGARD LAWRENCE T
   2. Issuer Name and Ticker or Trading Symbol
INTEGRYS ENERGY GROUP, INC. [TEG] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President & COO
(Last)
(First)
(Middle)
700 NORTH ADAMS STREET, P. O. BOX 19001		 3. Date of Earliest Transaction (Month/Day/Year)
10/14/2014
(Street)

GREEN BAY, WI 54307-9001		 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 10/14/2014   M(1)   12,364 A $ 54.85 15,060.0986 D  
Common Stock 10/14/2014   S(1)   12,364 D $ 68.9716 (2) 2,696.0986 D  
Common Stock 10/14/2014   M(1)   289 A $ 52.73 2,985.0986 D  
Common Stock 10/14/2014   S(1)   289 D $ 69.4 2,696.0986 (3) D  
Common Stock               6,146.0607 (4) I By Employee Stock Ownership Plan

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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
Employee Stock Option (Right to buy) $ 54.85 10/14/2014   M(1)     12,364 12/07/2006(5) 12/07/2015 Common Stock 12,364 $ 0 0 D  
Employee Stock Option (Right to buy) $ 52.73 10/14/2014   M(1)     289 12/07/2007(5) 12/07/2016 Common Stock 289 $ 0 11,015 D  
Employee Stock Option (Right to buy) $ 41.58             02/11/2011(5) 02/11/2020 Common Stock 10,874   10,874 D  
Employee Stock Option (Right to buy) $ 49.4             02/10/2012(5) 02/10/2021 Common Stock 13,231   13,231 D  
Employee Stock Option (Right to buy) $ 53.24             02/09/2013(5) 02/09/2022 Common Stock 31,377   31,377 D  
Employee Stock Option (Right to buy) $ 58.65             05/17/2008(5) 05/17/2017 Common Stock 14,044   14,044 D  
Employee Stock Option (Right to buy) $ 56             02/14/2014(5) 02/14/2023 Common Stock 35,553   35,553 D  
Employee Stock Option (Right to Buy) $ 55.23             02/13/2015(5) 02/13/2024 Common Stock 37,615   37,615 D  
Performance Rights $ 0 (6)             01/01/2017(6) 03/15/2017 Common Stock 15,038   15,038 D  
Performance Rights $ 0 (6)             01/01/2016(6) 03/15/2016 Common Stock 12,600   12,600 D  
Performance Rights $ 0 (6)             01/01/2015(6) 03/15/2015 Common Stock 10,582   10,582 D  
Phantom Stock Unit (7)               (8)   (8) Common Stock 29,437.5633   29,437.5633 (9) D  
Restricted Stock Units 2011 (10)             02/10/2012 02/10/2015 Common Stock 1,033.9271   1,033.9271 (11) D  
Restricted Stock Units 2012 (10)             02/09/2013 02/09/2016 Common Stock 2,057.0684   2,057.0684 (11) D  
Restricted Stock Units 2013 (10)             02/14/2014 02/14/2017 Common Stock 2,922.0975   2,922.0975 (11) D  
Restricted Stock Units 2014 (10)             02/13/2015 02/13/2018 Common Stock 4,548.6308   4,548.6308 (11) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
BORGARD LAWRENCE T
700 NORTH ADAMS STREET
P. O. BOX 19001
GREEN BAY, WI 54307-9001		       President & COO  

Signatures

 Dane E. Allen, as Power of Attorney for Mr. Borgard   10/16/2014
**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) The transaction reported was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 10, 2014.
(2) The weighted average sale price reflects multiple transactions at prices ranging from $68.96 to $68.99.
(3) Balance also reflects dividend reinvestment shares purchased on June 20 and September 20, 2014.
(4) Balance reflects shares pertaining to the June 20 and September 20, 2014 dividend, and earnings adjustment on September 30, 2014 under the Company's Employee Stock Ownership Plan.
(5) The option vests in four equal annual installments beginning on the exercisable date.
(6) Performance stock rights represent the right to receive shares of common stock of the Company, in the event certain performance goals are satisfied. These goals are based on Company performance against an established industry benchmark, over a three year performance period. The final award of shares issued can be between 0% and 200% of the reported target award.
(7) These phantom stock units convert to common stock on a one-for-one basis.
(8) Upon retirement or termination of service, distribution of phantom stock units will commence in January of the year that is both (1) following the calendar year in which service terminates with the Company, and (2) at least six months following termination, or later if the participant selected a later date.
(9) Balance also reflects dividends paid on phantom stock units and reinvested in additional phantom stock units, under the Company's Deferred Compensation Plan on June 20 and September 20, 2014.
(10) Each restricted stock unit represent a contingent right to receive one share of Company common stock. The restricted stock units vest in four equal annual installments beginning on the exercisable date.
(11) Balance reflects the dividend paid on restricted stock units and reinvested in additional restricted stock units, under the Company's Omnibus Incentive Plans on June 20 and September 20, 2014.

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