KROGER CO — Director's Dealing 2012

Jan 4, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KROGER CO (KR)
CIK: 0000056873
Period of Report: 2012-01-03

Reporting Person: DONNELLY MICHAEL JOSEPH (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-01-03	Common Stock	M	30000	$22.995	Acquired	83939.5106	Direct
2012-01-03	Common Stock	M	10223	$14.925	Acquired	94162.5106	Direct
2012-01-03	Common Stock	S	30223	$24.50	Disposed	63939.5106	Direct
2012-01-03	Common Stock	S	100	$24.40	Disposed	63839.5106	Direct
2012-01-03	Common Stock	S	972	$24.42	Disposed	62867.5106	Direct
2012-01-03	Common Stock	S	1028	$24.43	Disposed	61839.5106	Direct
2012-01-03	Common Stock	S	5700	$24.44	Disposed	56139.5106	Direct
2012-01-03	Common Stock	S	800	$24.45	Disposed	55339.5106	Direct
2012-01-03	Common Stock	S	400	$24.455	Disposed	54939.5106	Direct
2012-01-03	Common Stock	S	800	$24.46	Disposed	54139.5106	Direct
2012-01-03	Common Stock	S	200	$24.47	Disposed	53939.5106	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-01-03	Non-Qualified Performance Stock Option	$22.995	M	10000	Disposed	2012-05-09	Common Stock (10000)	Direct
2012-01-03	Non-Qualified Stock Option	$22.995	M	20000	Disposed	2012-05-09	Common Stock (20000)	Direct
2012-01-03	Non-Qualified Stock Option	$14.925	M	10223	Disposed	2012-12-12	Common Stock (10223)	Direct

Footnotes

F1: This sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 15, 2011.

F2: 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.

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.

F4: 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.