CALERES INC — Director's Dealing 2014

May 27, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2014-05-22

Reporting Person: Wright Harold (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-22	Common Stock	M	8598.81	—	Acquired	9598.81	Direct
2014-05-22	Common Stock	D	8598.81	$25.75	Disposed	1000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-22	Restricted Stock Units	$	M	8598.81	Disposed		Common Stock (8598.81)	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.