CALERES INC — Director's Dealing 2015

Jan 15, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN SHOE CO INC (BWS)
CIK: 0000014707
Period of Report: 2015-01-13

Reporting Person: OBERLANDER MICHAEL I (SVP, Gen Counsel & Corp Sec)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-01-13	Common Stock	M	7249	$14.9133	Acquired	103401	Direct
2015-01-13	Common Stock	S	7249	$32.1445	Disposed	96152	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-01-13	Employee Stock Option (Right to Buy)	$14.9133	M	7249	Disposed	2015-03-03	Common Stock (7249)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	8498	Indirect

Footnotes

F1: The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 24, 2014.

F2: The options become exercisable in 4 equal annual installments beginning 3/3/06.