MCDONALDS CORP — Director's Dealing 2009

Oct 27, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MCDONALDS CORP (MCD)
CIK: 0000063908
Period of Report: 2009-10-23

Reporting Person: Alvarez Ralph (Director, President and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-10-23	Common Stock	M	21500	$29.43	Acquired	41726	Direct
2009-10-23	Common Stock	M	18000	$14.31	Acquired	59726	Direct
2009-10-23	Common Stock	S	20226	$59.3935	Disposed	39500	Direct
2009-10-23	Common Stock	S	21500	$59.3526	Disposed	18000	Direct
2009-10-23	Common Stock	S	18000	$59.3946	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-10-23	Options (Right to Buy)	$29.43	M	21500	Disposed	2011-02-02	Common Stock (21500)	Direct
2009-10-23	Options (Right to Buy)	$14.31	M	18000	Disposed	2013-03-18	Common Stock (18000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	18363	Indirect
Common Stock	12413	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock	$		Common Stock (31607)	31607	Indirect

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $59.32 to $59.541 per share. The price reported represents the weighted average sales price of these trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price.

F2: This transaction was executed in multiple trades at prices ranging from $59.34 to $59.395 per share. The price reported represents the weighted average sales price of these trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price.

F3: This transaction was executed in multiple trades at prices ranging from $59.36 to $59.425 per share. The price reported represents the weighted average sales price of these trades. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price.

F4: These shares are held in a trust for the benefit of the reporting person's wife, who is the grantor and trustee of the trust.

F5: Options became exercisable in 25% increments on the first, second, third and fourth anniversary dates of the grant.

F6: Each share of phantom stock represents the right to receive the cash value of one share of McDonald's Corporation common stock.

F7: Shares of phantom stock are payable in cash following the reporting person's separation from service with McDonald's.