PILGRIMS PRIDE CORP — Director's Dealing 2012

Mar 2, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PILGRIMS PRIDE CORP (PPC)
CIK: 0000802481
Period of Report: 2012-02-29

Reporting Person: PILGRIM LONNIE A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-29	Common Stock	X	2708369	$4.50	Acquired	15779647	Indirect
2012-02-29	Common Stock	X	595117	$4.50	Acquired	3467303	Direct
2012-02-29	Common Stock	X	18769	$4.50	Acquired	109349	Indirect
2012-02-29	Common Stock	X	18768	$4.50	Acquired	109347	Indirect
2012-02-29	Common Stock	X	14093	$4.50	Acquired	82106	Indirect
2012-02-29	Common Stock	X	550	$4.50	Acquired	3200	Indirect
2012-02-29	Common Stock	X	31	$4.50	Acquired	176.0085	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-29	Subscriptions Rights (right to buy)	$4.50	X	13071278	Disposed	2012-02-29	Common Stock, par value $0.01 per share (2708369)	Indirect
2012-02-29	Subscriptions Rights (right to buy)	$4.50	X	2872186	Disposed	2012-02-29	Common Stock, par value $0.01 per share (595117)	Direct
2012-02-29	Subscriptions Rights (right to buy)	$4.50	X	90580	Disposed	2012-02-29	Common Stock, par value $0.01 per share (18769)	Indirect
2012-02-29	Subscriptions Rights (right to buy)	$4.50	X	90579	Disposed	2012-02-29	Common Stock, par value $0.01 per share (18768)	Indirect
2012-02-29	Subscriptions Rights (right to buy)	$4.50	X	68013	Disposed	2012-02-29	Common Stock, par value $0.01 per share (14093)	Indirect
2012-02-29	Subscriptions Rights (right to buy)	$4.50	X	2650	Disposed	2012-02-29	Common Stock, par value $0.01 per share (550)	Indirect
2012-02-29	Subscriptions Rights (right to buy)	$4.50	X	145.0085	Disposed	2012-02-29	Common Stock, par value $0.01 per share (31)	Indirect

Footnotes

F1: The reporting person exercised in full his basic subscription right (each subscription right entitling him to purchase 0.2072 shares of Pilgrim's Pride Corporation ("PPC") common stock, par value $0.01 per share, at a subscription price equal to $4.50 per share), issued pro rata to holders of PPC common stock on the January 17, 2012 record date for the rights offering, under the basic subscription privilege in the rights offering. The reporting person will acquire these shares of common stock when issued by PPC at the closing of the rights offering. (Continued to Footnote 2)

F2: Pursuant to the rights offering, the reporting person has exercised his over-subscription rights and will acquire additional shares of PPC's common stock in the rights offering on a pro rata basis based on the number of shares each over-subscribing stockholder purchased under the basic subscription privilege to the extent any shares offered in the rights offering are not purchased by PPC's stockholders as part of the basic subscription as of the expiration of the rights offering. Any such additional shares (once determined) will be reported by the reporting person on a subsequent Form 4.

F3: The number of shares beneficially owned by Lonnie A. "Bo" Pilgrim includes shares of common stock held by family trusts, employee benefit trust, family limited partnerships and wife. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

F4: The number of shares owned by the reporting person through the employee benefit plan was inadvertently incorrectly reported in previous filings. Certain exempt transactions pursuant to Rule 16b-3(c) were not reflected in those filings. The accurate number of shares of common stock owned by the reporting through the employee benefit plan as of the date of this filing is reported herein.