CALERES INC — Director's Dealing 2012

May 24, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2012-05-22

Reporting Person: MCGINNIS PATRICIA G (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-22	Restricted Stock Units	$	A	8350	Acquired		Common Stock (8350)	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 Director.