DILLARD'S, INC. — Director's Dealing 2012

Dec 5, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DILLARDS INC (DDS)
CIK: 0000028917
Period of Report: 2012-11-30

Reporting Person: STEPHENS WARREN A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-11-30	Common Class A	M	25000	$25.74	Acquired	25000	Direct
2012-11-30	Common Class A	S	25000	$89.1196	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-11-30	Stock Option (right to buy)	$25.74	M	25000	Disposed	2016-01-24	Common Class A (25000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Class A	5702	Indirect
Common Class A	121536	Indirect

Footnotes

F1: The price reported for this trade is a weighted average price. These shares were sold in multiple transactions at prices ranging from $89.44 to $88.65, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.