CALERES INC — Director's Dealing 2010

Mar 8, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2010-03-04

Reporting Person: OBERLANDER MICHAEL I (SVP, Gen Counsel & Corp Sec)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-03-04	Common Stock	A	12750	$13.99	Acquired	60645	Direct
2010-03-04	Common Stock	F	182	$13.99	Disposed	60463	Direct
2010-03-05	Common Stock	S	5250	$13.83	Disposed	60463	Direct
2010-03-05	Common Stock	M	5250	$4.75	Acquired	65713	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-03-05	Employee Stock Option (Right to Buy)	$4.75	M	5250	Disposed	2010-09-14	Common Stock (5250)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5597	Indirect

Footnotes

F1: The options vested in four equal annual installments on September 14, 2001, 2002, 2003 and 2004.