SMITHFIELD FOODS INC — Director's Dealing 2010

Jun 25, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SMITHFIELD FOODS INC (SFD)
CIK: 0000091388
Period of Report: 2010-06-23

Reporting Person: LUTER JOSEPH W III (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-06-23	Phantom Stock	$	A	1140.6502	Acquired		common stock (1140.6502)	Direct

Footnotes

F1: 1 for 1

F2: The phantom stock becomes payable in shares of Company common stock upon termination of service as a director either in a lump sum or in annual installments over a period of at least two years and not more than ten years as per the director's deferral election. Notwithstanding the foregoing, after termination of service, the phantom stock may, at the election of the director, be converted into one or more "deemed investments" approved by the Company's Nominating and Governance Committee.