CALERES INC — Director's Dealing 2012

May 30, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2012-05-27

Reporting Person: Wright Harold (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-27	Common Stock	M	6432.15	—	Acquired	7432.15	Direct
2012-05-27	Common Stock	D	6432.15	$11.97	Disposed	1000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-27	Restricted Stock Units	$	M	6432.15	Disposed		Common Stock (6432.15)	Direct

Footnotes

F1: Each restricted stock unit represents a contingent right to receive the fair market value of a share of common stock of the company.

F2: Vesting of each restricted stock unit is contingent upon the Director's continued service as a director of the Company through the next meeting of shareholders. The restricted stock units generally will be settled in cash on the earlier of the date the Director's service as a director terminates or the payment date elected by the Director.