KROGER CO — Director's Dealing 2012

Mar 30, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KROGER CO (KR)
CIK: 0000056873
Period of Report: 2012-03-29

Reporting Person: HELDMAN PAUL W (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-29	Common Stock	M	26667	$22.995	Acquired	346809.4828	Direct
2012-03-29	Common Stock	M	13333	$22.995	Acquired	360142.4828	Direct
2012-03-29	Common Stock	F	38853	$24.145	Disposed	321289.4828	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-29	Non-Qualified Stock Option	$22.995	M	26667	Disposed	2012-05-09	Common Stock (26667)	Direct
2012-03-29	Non-Qualified Performance Stock Option	$22.995	M	13333	Disposed	2012-05-09	Common Stock (13333)	Direct

Footnotes

F1: The total amount of securities directly owned by the reporting person includes shares in the Company's employee benefit plans that 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 a long-term incentive 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 the grant.

F3: 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.