CAMPBELL'S Co — Director's Dealing 2011

Jan 21, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2011-01-20

Reporting Person: MATHEW SARA (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-20	Phantom Stock	$	A	3307	Acquired		Common Stock (3307)	Direct

Footnotes

F1: 1-for-1

F2: Phantom shares are fully vested.

F3: The value of phantom stock is payable in cash from the Company's deferred compensation plan upon reporting person's retirement, resignation or termination.