Designer Brands Inc. — Director's Dealing 2012

Feb 23, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DSW Inc. (DSW)
CIK: 0001319947
Period of Report: 2012-02-21

Reporting Person: McDermott Carrie S. (EVP, Stores and Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-21	Class A Common Shares	M	3306.0000	$9.5800	Acquired	8862.0000	Direct
2012-02-21	Class A Common Shares	S	3306.0000	$54.0000	Disposed	5556.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-21	Stock Option - Right to Buy	$9.5800	M	3306.0000	Disposed	2019-04-01	Class A Common Shares (3306.0000)	Direct

Footnotes

F1: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ms. McDermott on November 23, 2011.

F2: Previously reported stock option has been adjusted to reflect a special stock dividend declared by the Issuer and exempt pursuant to Rule 16a-9.

F3: Option vests 20% per year beginning on the first anniversary of the date of grant.