Designer Brands Inc. — Director's Dealing 2012

Mar 23, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DSW Inc. (DSW)
CIK: 0001319947
Period of Report: 2012-03-21

Reporting Person: SONNENBERG HARVEY L (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-21	Class A Common Shares	M	1134.0000	$45.6900	Acquired	10746.0000	Direct
2012-03-21	Class A Common Shares	M	1134.0000	$44.9300	Acquired	11880.0000	Direct
2012-03-21	Class A Common Shares	M	1134.0000	$44.2300	Acquired	13014.0000	Direct
2012-03-22	Class A Common Shares	S	3402.0000	$54.9900	Disposed	9612.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-21	Stock Option - Right to Buy	$44.2300	M	1134.0000	Disposed	2017-02-05	Class A Common Shares (1134.0000)	Direct
2012-03-21	Stock Option - Right to Buy	$44.9300	M	1134.0000	Disposed	2017-05-07	Class A Common Shares (1134.0000)	Direct
2012-03-21	Stock Option - Right to Buy	$45.6900	M	1134.0000	Disposed	2021-05-02	Class A Common Shares (1134.0000)	Direct

Footnotes

F1: Price represents a weighted average of the sale price. Shares were sold at prices ranging from $54.92 to $55.07. Upon the request by the SEC staff, the Issuer, or a security holder of the Issuer, the reporting person will provide the full information about the number of shares sold at each separate price.

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.