CENTENE CORP — Director's Dealing 2011

Feb 28, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTENE CORP (CNC)
CIK: 0001071739
Period of Report: 2011-02-25

Reporting Person: Schwaneke Jeffrey A. (VP, Cont. & Chief Acct Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-25	Common Stock	M	6000	$17.38	Acquired	20271	Direct
2011-02-25	Common Stock	S	6000	$29.89	Disposed	14271	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-25	Common Stock Option (right to buy)	$17.38	M	6000	Disposed	2018-07-07	Common Stock (6000)	Direct

Footnotes

F1: Ownership includes previous awards of 11,533 restricted stock units which are subject to vesting requirements.

F2: This sale is pursuant to a 10b5-1 Trading Plan established February 11, 2011. The weighted average price for this transaction is reported within the form. Full information regarding the number of shares at each price is available upon request.