Designer Brands Inc. — Director's Dealing 2012

Nov 26, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DSW Inc. (DSW)
CIK: 0001319947
Period of Report: 2012-11-21

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-11-21	Class A Common Shares	M	4197.0000	$9.3000	Acquired	9753.0000	Direct
2012-11-21	Class A Common Shares	M	3587.0000	$24.6700	Acquired	13340.0000	Direct
2012-11-21	Class A Common Shares	M	2398.0000	$12.0200	Acquired	15738.0000	Direct
2012-11-21	Class A Common Shares	M	2039.0000	$13.2600	Acquired	17777.0000	Direct
2012-11-21	Class A Common Shares	S	12221.0000	$67.0000	Disposed	5556.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-11-21	Stock Option - Right to Buy	$24.6700	M	3587.0000	Disposed	2020-03-23	Class A Common Shares (3587.0000)	Direct
2012-11-21	Stock Option - Right to Buy	$9.3000	M	4197.0000	Disposed	2019-04-01	Class A Common Shares (4197.0000)	Direct
2012-11-21	Stock Option - Right to Buy	$13.2600	M	2039.0000	Disposed	2019-09-10	Class A Common Shares (2039.0000)	Direct
2012-11-21	Stock Option - Right to Buy	$12.0200	M	2398.0000	Disposed	2018-04-03	Class A Common Shares (2398.0000)	Direct

Footnotes

F1: Price represents a weighted average of the sale price. Shares were sold at prices ranging from $66.80 to $67.20. 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.

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