ENTERPRISE FINANCIAL SERVICES CORP — Director's Dealing 2012

May 7, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ENTERPRISE FINANCIAL SERVICES CORP (EFSC)
CIK: 0001025835
Period of Report: 2012-05-03

Reporting Person: HANSON LINDA (President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-03	Common Stock	A	4631	$11.91	Acquired	30554	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2142	Indirect
Common Stock	13915	Indirect
Common Stock	25133	Indirect
Common Stock	43472	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Settled Stock Appreciation Rights	$25.63	2017-06-15	Common Stock (9433)	9433	Direct
Stock Settled Stock Appreciation Rights	$20.63	2018-06-13	Common Stock (11495)	11495	Direct
Stock Settled Stock Appreciation Rights	$15.95	2018-07-07	Common Stock (36000)	36000	Direct

Footnotes

F1: The shares of restricted stock were awarded pursuant to the Company's 2002 Stock Incentive Plan.

F2: The reporting person holds units in the stock fund and the number of shares reported as indirectly held in the 401 (k) plan in this row is an estimate of the number of shares of the issuer's Common Stock held in the unitized stock fund and allocated to the reporting person's account.

F3: These shares are held jointly with spouse.

F4: Each SSAR consists of the right to receive an amount, in common stock, equal to the excess of the fair market value of a share of common stock on the date of exercise over the exercise price of the SSAR. The SSARs vest at a rate of 20% annually over five years, subject to continued employement of the reporting person. Vesting occurs on December 15 of each year, commencing December 15, 2007.

F5: Each SSAR consists of the right to receive an amount, in common stock, equal to the excess of the fair market value of a share of common stock on the date of exercise over the exercise price of the SSAR. The SSARs vest at a rate of 20% annually over five years, subject to continued employment of the reporting person. Vesting occurs on December 15 of each year, commencing December 15, 2008.

F6: Each SSAR consists of the right to receive an amount, in common stock, equal to the excess of the fair market value of a share of common stock on the date of exercise over the exercise price of the SSAR. The SSARs vest at a rate of 20% annually over five years, subject to continued employment of the reporting person. Vesting occurs on July 7 of each year, commencing July 7, 2009.