CAMPBELL'S Co — Director's Dealing 2011

Feb 17, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2010-12-29

Reporting Person: DORRANCE BENNETT (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-12-29	Common Stock	M	9760	$0.00	Acquired	9760	Direct
2010-12-29	Common Stock	F	9711	$34.55	Disposed	460098	Indirect
2010-12-29	Common Stock	J	49	$0.00	Acquired	460147	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-12-29	Stock Option	$34.37	M	9760	Disposed	2011-01-01	Common Stock (9760)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2419355	Indirect
Common Stock	17957141	Indirect
Common Stock	1105142	Indirect
Common Stock	25456730	Indirect
Common Stock	2043	Indirect

Footnotes

F1: This transaction is being reported after the filing deadline because the information required to complete the filing on a timely basis was not provided by a service provider.

F2: Bennett Dorrance is the sole Trustee of the Bennett Dorrance Trust. Mr. Dorrance disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.

F3: Contribution of 49 shares by the Reporting Person to the Bennett Dorrance Trust.

F4: Held by Clarabelle Investments LLC of which Mr. Dorrance is a majority owner. Mr. Dorrance disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.

F5: Held by ABD Investments Limited of which Mr. Dorrance is a majority general partner. Mr. Dorrance disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.

F6: Held by the Dorrance 1995 Issue Trust, which is a trust for the benefit of Mr. Dorrance's children. Mr. Dorrance is a director of the corporate trustee. Mr. Dorrance disclaims beneficial ownership of these shares.

F7: Held by Guillermo Investments LLC. Mr. Dorrance is the sole director and majority owner of Hank, Inc., which is the sole manager of Guillermo Investments LLC. Mr. Dorrance disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.

F8: Held by Hank, Inc. of which Mr. Dorrance is the sole director and majority owner. Mr. Dorrance disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.

F9: The options vested cumulatively over three years at the rate of 30%, 60% and 100% respectively on the first three anniversaries of the grant date of 1/1/2001.