STEVEN MADDEN, LTD. — Director's Dealing 2011

Jun 3, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEVEN MADDEN, LTD. (SHOO)
CIK: 0000913241
Period of Report: 2011-05-31

Reporting Person: VARELA AMELIA (EVP of Wholesale)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-31	Common Stock, par value $0.0001 per share	M	15000	$12.88	Acquired	15000	Direct
2011-05-31	Common Stock, par value $0.0001 per share	S	15000	$55.29	Disposed	0	Direct
2011-05-31	Common Stock, par value $0.0001 per share	M	56250	$12.52	Acquired	56250	Direct
2011-05-31	Common Stock, par value $0.0001 per share	S	56250	$55.29	Disposed	0	Direct
2011-05-31	Common Stock, par value $0.0001 per share	M	7499	$32.53	Acquired	7499	Direct
2011-05-31	Common Stock, par value $0.0001 per share	S	7499	$55.29	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-31	Stock Option (Right to Buy)	$12.88	M	15000	Disposed	2015-04-29	Common Stock (15000)	Direct
2011-05-31	Stock Option (Right to Buy)	$12.52	M	56250	Disposed	2016-04-29	Common Stock (56250)	Direct
2011-05-31	Stock Option (Right to Buy)	$32.53	M	7499	Disposed	2017-04-29	Common Stock (7499)	Direct

Footnotes

F1: The actual vesting schedule for this entire option grant was four annual installments commencing on the first anniversary of the grant date. A Form 4 filed on April 2, 2009 to report an aggregate option grant of 75,000 shares erroneously indicated that the option would vest over a 5-year period with respect to 25,000 shares and over a 4-year period with respect to 50,000 shares. This option was previously reported as covering 37,500 shares at an exercise price of $18.78 per share, but was adjusted to reflect the three-for-two stock split (effected as a stock dividend) that occurred on April 30, 2010.

F2: The option was issued at an exercise price of $48.80 per share, which was the closing price of the issuer's common stock on March 31, 2010. A Form 4 filed on April 27, 2010 to report the option grant erroneously indicated the exercise price of the option as $48.96. The number of shares available upon exercise of the option and the exercise price of the option have been adjusted to reflect the three-for-two stock split (effected as a stock dividend) that occurred on April 30, 2010.