Designer Brands Inc. — Director's Dealing 2012

Apr 4, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DSW Inc. (DSW)
CIK: 0001319947
Period of Report: 2012-04-02

Reporting Person: Mustafa Harris (EVP, Supply Chain)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-04-02	Class A Common Shares	M	11691.0000	$9.5800	Acquired	28406.0000	Direct
2012-04-02	Class A Common Shares	S	11691.0000	$55.1900	Disposed	16715.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-04-02	Stock Option - Right to Buy	$9.5800	M	11691.0000	Disposed	2019-04-01	Class A Common Shares (11691.0000)	Direct

Footnotes

F1: The sales in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Mustafa on March 17, 2011.

F2: Price represents a weighted average of the sale price. Shares were sold at prices ranging from $55.12 to $55.29. 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.

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