KROGER CO — Director's Dealing 2005

Mar 2, 2005

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: KROGER CO (KR)
CIK: 0000056873
Period of Report: 2005-01-29

Reporting Person: HESCHEL MICHAEL S (Executive Vice President)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	119462.5902	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-Qualified Stock Option	$10.375	2006-04-17	Common Stock (24000)	24000	Direct
Non-Qualified Stock Option	$13.4375	2007-05-14	Common Stock (22500)	22500	Direct
Non-Qualified Performance Stock Option	$13.4375	2007-05-14	Common Stock (22500)	22500	Direct
Non-Qualified Stock Option	$22.2344	2008-04-15	Common Stock (22500)	22500	Direct
Non-Qualified Performance Stock Option	$22.2344	2008-04-15	Common Stock (22500)	22500	Direct
Non-Qualified Stock Option	$27.1719	2009-05-26	Common Stock (30000)	30000	Direct
Non-Qualified Performance Stock Option	$27.1719	2009-05-26	Common Stock (30000)	30000	Direct
Non-Qualified Stock Option	$16.5938	2010-02-10	Common Stock (125000)	125000	Direct
Non-Qualified Performance Stock Option	$16.5938	2010-02-10	Common Stock (25000)	25000	Direct
Non-Qualified Stock Option	$24.43	2011-05-09	Common Stock (15000)	15000	Direct
Non-Qualified Performance Stock Option	$24.43	2011-05-09	Common Stock (15000)	15000	Direct
Non-Qualified Stock Option	$22.995	2012-05-09	Common Stock (30000)	30000	Direct
Non-Qualified Performance Stock Option	$22.995	2012-05-09	Common Stock (15000)	15000	Direct
Non-Qualified Stock Option	$14.925	2012-12-12	Common Stock (90000)	90000	Direct
Non-Qualified Stock Option	$17.31	2014-05-06	Common Stock (45000)	45000	Direct

Footnotes

F1: The total amount of securities directly owned by the reporting person includes shares in the Company's employee benefit plans which are deemed to be 'tax-conditioned plans' pursuant to Rule 16b-3, to the extent disclosed on reports received from plan trustees.

F2: These options were granted under an option plan of The Kroger Co. and vest in equal annual installments in whole share amounts over a three-year period, at the rate of one-third per year commencing one year after the date of grant, with the remainder vesting three years from the date of grant.

F3: These options were granted under an option plan of The Kroger Co. and vest in equal annual installments in whole amounts over a five-year period, at the rate of 20% per year commencing one year from the date of grant.

F4: These options will vest during the first four years from the date of the grant only if the Company's stock price has achieved a 63% appreciation from the option price. Thereafter, the options vest only if the Company's stock price has achieved a minimum of 13% appreciation per annum from the date of grant or 200% appreciation, whichever is less. The options vest nine years and six months after grant, if not sooner vested.

F5: These options will vest during the first four years from the date of the grant only if the Company's stock price has achieved a 75% appreciation from the option price. Thereafter, the options vest only if the Company's stock price has achieved a minimum 15% appreciation per annum from the date of grant or 252% appreciation, whichever is less. The options vest nine years and six months after grant, if not sooner vested.

F6: These options will vest during the first four years from the date of the grant only if the Company's stock price has achieved an 81% appreciation from the option price. Thereafter, the options vest only if the Company's stock price has achieved a minimum 16% appreciation per annum from the date of grant or 280% appreciation, whichever is less. The options vest nine years and six months after grant, if not sooner vested.

F7: These options will vest during the first four years from the date of the grant only if the Company's stock price has achieved a 78% appreciation from the option price. Thereafter, the options vest only if the Company's stock price has achieved a minimum 15% appreciation per annum from the date of grant or 208% appreciation, whichever is less. The options vest nine years and six months after grant, if not sooner vested.

F8: These options will vest during the first four years from the date of the grant only if the Company's stock price has achieved a 55% appreciation from the option price. Thereafter, the options vest only if the Company's stock price has achieved a minimum 13% appreciation per annum from the date of grant or 185% appreciation, whichever is less. The options vest nine years and six months after grant, if not sooner vested.