PROCTER & GAMBLE Co — Director's Dealing 2012

May 18, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROCTER & GAMBLE Co (PG)
CIK: 0000080424
Period of Report: 2012-05-15

Reporting Person: Panayotopoulos Evriviades D (ViceChairman Global Bus Units)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-15	Common Stock	F	28	$63.855	Disposed	244614.846	Direct
2012-05-15	Common Stock	M	28	—	Acquired	244642.846	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-15	Restricted Stock Units	$	A	387.705	Acquired		Common Stock (387.705)	Direct
2012-05-15	Restricted Stock Units	$	M	28	Disposed		Common Stock (28)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2474.7569	Indirect

Footnotes

F1: Automatic conversion of Restricted Stock Units ("RSUs") to withhold for taxes due on dividend equivalents granted in the form of RSUs settled in common stock on 5/15/2012.

F2: Total includes grant of dividend equivalents on 5/15/2012 in the form of RSUs settled in common stock and dividends paid on 9/15/2011 on vested RSUs granted on 9/15/2008, 9/15/2009 and 9/15/2010.

F3: Balance as of 3/31/2012.

F4: Dividend equivalents in the form of RSUs for Retirement Restricted Stock Units previously awarded pursuant to Issuer's retirement program. All such RSUs represent a contingent right to receive Procter & Gamble common stock or cash settlement.

F5: These units will deliver in shares or cash settlement on retirement from the company, unless delivery is deferred or such shares are contributed to reporting person's deferred compensation account.