CAMPBELL'S Co — Director's Dealing 2012

May 31, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CAMPBELL SOUP CO (CPB)
CIK: 0000016732
Period of Report: 2012-05-29

Reporting Person: KADEN ELLEN O (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-29	Common Stock	M	59889	$22.95	Acquired	379978	Direct
2012-05-29	Common Stock	S	59889	$32.564	Disposed	320089	Direct
2012-05-30	Common Stock	M	26361	$22.95	Acquired	346450	Direct
2012-05-30	Common Stock	S	26361	$32.0016	Disposed	320089	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-29	Employee Stock Option (right to buy)	$22.95	M	59889	Disposed	2012-07-25	Common Stock (59889)	Direct
2012-05-30	Employee Stock Option (right to buy)	$22.95	M	26361	Disposed	2012-07-25	Common Stock (26361)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	10331	Indirect

Footnotes

F1: The price reflects the weighted average sale price for the transactions reported on this line. The range of prices for the transactions reported on this line are $32.50 to and including $32.72. The full information regarding the number of shares sold at each separate price will be provided upon request by the Commission staff.

F2: The price reflects the weighted average sale price for the transactions reported on this line. The range of prices for the transactions reported on this line are $31.90 to and including $32.14. The full information regarding the number of shares sold at each separate price will be provided upon request by the Commission staff.

F3: The options vested cumulatively over three years at the rate of 30%, 60%, 100% respectively on the first three anniversaries of the Grant Date.