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Filing Details

Accession Number:: 0001186892-10-000006
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-11-19 16:53:50
Reporting Period:: 2010-11-17

Filing Date:: 2010-11-19
Accepted Time:: 2010-11-19 16:53:50
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
812900	Saks Inc	SKS	Retail-Department Stores (5311)	620331040

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1186892	I Stephen Sadove	Saks Incorporated 12 East 49Th Street New York NY 10017	Chairman & Ceo	Yes	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2010-11-17	5,164	$6.58	1,066,082	No	4	M	Direct
Common Stock	Disposition	2010-11-17	5,164	$11.08	1,060,918	No	4	S	Direct
Common Stock	Acquisiton	2010-11-17	162,500	$2.36	1,223,418	No	4	M	Direct
Common Stock	Disposition	2010-11-17	162,500	$11.08	1,060,918	No	4	S	Direct
Common Stock	Disposition	2010-11-17	250,000	$11.08	810,918	No	4	S	Direct
Common Stock	Disposition	2010-11-17	76,894	$11.08	0	No	4	S	Indirect	Through 2009 GRAT

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	M	Direct
No	4	S	Direct
No	4	M	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Indirect	Through 2009 GRAT

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Employee Stock Option Right to Buy	Disposition	2010-11-17	5,164	$0.00	5,164	$6.58
Common Stock	Employee Stock Option Right to Buy	Disposition	2010-11-17	162,500	$0.00	162,500	$2.36
Common Stock	Phantom Stock	Disposition	2010-11-17	88,544	$11.46	88,544	$0.00

Remaning Holdings	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2011-06-13	No	4	M	Direct
487,500	2016-02-26	No	4	M	Direct
0	2010-11-17	No	4	I	Direct

Footnotes

Option vested as follows: 20% on 12/13/2001; 20% on 6/13/2002; 20% on 6/13/2003; 20% on 6/13/2004; and 20% on 6/13/2005.
Option vests as follows: 25% on 2/26/2010; 25% on 2/26/2011; 25% on 2/26/2012; and 25% on 2/26/2013.
The sale price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.81 to $11.32, inclusive. The reporting person undertakes to provide to Saks Incorporated, any security holder of Saks Incorporated, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.
These shares were held in a grantor retained annuity trust, which is an estate planning vehicle for transferring any appreciation in value of trust assets to family members. The reporting person serves as trustee of the GRAT and receives annuity payments from the GRAT, which may be paid in cash or stock. Any assets remaining in the GRAT at the end of the trust term will be transferred to a family trust.
Each share of phantom stock represents the right to receive the cash equivalent of one share of common stock or, at the reporting person's election, one share of common stock.
The reporting person holds phantom stock under the Saks Incorporated Deferred Compensation Plan ("DCP"). The agreements pursuant to which the reporting person acquired his phantom stock were entered into in 2003 and 2004 and provide that the phantom stock, or its cash value, is payable in five equal annual installments beginning in February 2008. Prior to payment, the reporting person may elect to transfer some or all of the value of his phantom stock account into an alternative investment vehicle. The transaction reported in this Form 4 involved such a transfer.
Pursuant to the terms of the DCP, the value of the phantom stock that was transferred into an alternative investment vehicle was determined by the closing price of Saks Incorporated common stock on November 17, 2010.