DENNY'S Corp — Director's Dealing 2011

Feb 3, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DENNYS CORP (DENN)
CIK: 0000852772
Period of Report: 2011-02-01

Reporting Person: MILLER JOHN C (Director, CEO and President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-01	Restricted Stock Units	$	A	200000	Acquired	2021-02-01	Common Stock (200000)	Direct
2011-02-01	Employee Stock Option (right to purchase)	$3.89	A	200000	Acquired	2021-02-01	Common Stock (200000)	Direct

Footnotes

F1: Performance-based restricted stock units in the amount of 200,000 were granted on February 1, 2011 as an inducement award pursuant to Nasdaq Listing Rule 5635(c)(4). These performance-based restricted stock units represent the right to earn up to 200,000 shares of Denny's common stock, based on the closing price of the common stock exceeding specific hurdles for 20 consecutive trading days, and subject to the participant's continued employment with the Company.

F2: The option, granted on 02/01/11 as an inducement award pursuant to Nasdaq Listing Rule 5635(c)(4), vests annually in 33 1/3% increments beginning on the first (1st) anniversary of the grant date and expires on the tenth (10th) anniversary of the grant date.