FORM 4
[ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Smits Marcel H.M.
2. Issuer Name and Ticker or Trading Symbol

Hillshire Brands Co [ HSH ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
CEO
(Last)          (First)          (Middle)

C/O THE HILLSHIRE BRANDS COMPANY, 3500 LACEY ROAD
3. Date of Earliest Transaction (MM/DD/YYYY)

6/28/2012
(Street)

DOWNERS GROVE, IL 60515
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
common stock   6/28/2012     A    153028   (1) A $18.50   299249   D    
common stock   6/28/2012     F    91379   (2) D $18.50   207870   D    
common stock   6/28/2012     D    36015   (3) D $0.00   171855   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Explanation of Responses:
( 1)  Represents shares of common stock earned under performance stock units (PSUs) that vested upon completion of the spin-off. The number of shares earned was determined based upon the extent to which the company achieved certain predetermined performance goals.
( 2)  Represents shares of common stock withheld by Sara Lee to satisfy the reporting person's tax liability incurred upon the vesting of restricted stock units and PSUs.
( 3)  Represents shares of common stock subject to PSUs that were forfeited due to performance goals not being achieved.

Remarks:
On June 28, 2012, Sara Lee Corporation completed the spin-off of its international coffee and tea business, named D.E MASTER BLENDERS 1753 N.V., through a pro rata stock dividend. Effective upon completion of the spin-off (i) all outstanding Sara Lee restricted stock units ("RSUs"), performance stock units ("PSUs") and stock options granted to employees prior to November 2011 vested, with the PSUs vesting to the extent applicable performance goals were achieved, (ii) the Compensation and Employee Benefits Committee of Sara Lee's Board of Directors adjusted all outstanding equity awards to preserve the pre-spin-off intrinsic value of such equity awards (the "Adjustment"), and (iii) the name of Sara Lee was changed to The Hillshire Brands Company. The Adjustment will be made using a fraction of which the numerator is the volume weighted average price of Sara Lee common stock trading the regular way on the New York Stock Exchange over June 27 and 28, 2012, the two trading days prior to the spin-off, and the denominator is the volume weighted average price of The Hillshire Brands Company common stock on the New York Stock Exchange over the first two trading days after the spin-off. The share numbers reflected in this Form 4 reflect the vesting of equity awards upon completion of the spin-off but do not reflect the Adjustment.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Smits Marcel H.M.
C/O THE HILLSHIRE BRANDS COMPANY
3500 LACEY ROAD
DOWNERS GROVE, IL 60515


CEO

Signatures
/s/ Helen N. Kaminski for Marcel H.M. Smits pursuant to power of attorney previously filed. 7/2/2012
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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