CALERES INC — Director's Dealing 2015

May 15, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2015-05-13

Reporting Person: Koch Douglas (SVP, Chief Talent & Strategy)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-05-13	Common Stock	M	5626	$15.14	Acquired	145874	Direct
2015-05-13	Common Stock	F	3861	$30.00	Disposed	142013	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-05-13	Employee Stock Option (Right to Buy)	$15.14	M	5626	Disposed	2015-05-26	Common Stock (5626)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1146	Indirect

Footnotes

F1: The option becomes exercisable in 4 equal annual installments beginning on May 26, 2006.