CALERES INC — Director's Dealing 2014

Jan 21, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2014-01-17

Reporting Person: Schmidt John W (Div Pres, Whls Better & Image)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-17	Common Stock	M	15000	$16.19	Acquired	81206	Direct
2014-01-17	Common Stock	M	5600	$3.33	Acquired	86806	Direct
2014-01-17	Common Stock	M	5000	$10.52	Acquired	91806	Direct
2014-01-17	Common Stock	S	25600	$24.4562	Disposed	66206	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-01-17	Employee Stock Option (Right to Buy)	$16.19	M	15000	Disposed	2018-05-28	Common Stock (15000)	Direct
2014-01-17	Employee Stock Option (Right to Buy)	$3.33	M	5600	Disposed	2019-03-04	Common Stock (5600)	Direct
2014-01-17	Employee Stock Option (Right to Buy)	$10.52	M	5000	Disposed	2019-12-10	Common Stock (5000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3006	Indirect

Footnotes

F1: This option became exercisable in four equal annual installments beginning 5/28/2008

F2: This option became exercisable in four equal annual installments beginning 3/4/2009

F3: This option became exercisable in four equal annual installments beginning 12/10/2009