CALERES INC — Director's Dealing 2014

Sep 4, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2014-09-02

Reporting Person: SULLIVAN DIANE M (Director, CEO, Pres. & Chair. of Board)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-09-02	Common Stock	M	38295	$14.9133	Acquired	549953	Direct
2014-09-02	Common Stock	S	38295	$30.025	Disposed	511658	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-09-02	Employee Stock Option (Right to Buy)	$14.9133	M	38295	Disposed	2015-03-03	Common Stock (38295)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	7303	Indirect

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $30.00 to $30.141, inclusive. The reporting person undertakes to provide to Brown Shoe Company, Inc., any security holder of Brown Shoe Company, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (1) to this Form 4.

F2: The options become exercisable in four equal annual installments beginning 3/3/06.