SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Janssen Vincent HAM

(Last)

(First)

(Middle)

C/O SARA LEE INTERNATIONAL

VLEUTENSEVAART 100

(Street)

3532 AD UTRECHT

0000

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
07/18/2007

3. Issuer Name and Ticker or Trading Symbol
Sara Lee Corp [ SLE ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Senior Vice President

5. If Amendment, Date of Original Filed (Month/Day/Year)

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	25,000	D
Common Stock	72,630⁽¹⁾⁽²⁾⁽³⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
employee stock option (right to buy)	⁽⁴⁾	08/26/2009	Common Stock	33,976	$19.5044	D
employee stock option (right to buy)	⁽⁴⁾	04/27/2010	Common Stock	15,108	$18.7457	D
employee stock option (right to buy)	⁽⁴⁾	08/30/2011	Common Stock	37,171	$18.8318	D
employee stock option (right to buy)	⁽⁴⁾	08/29/2012	Common Stock	18,585	$15.9607	D
employee stock option (right to buy)	⁽⁴⁾	01/30/2013	Common Stock	3,252	$16.7054	D
employee stock option (right to buy)	⁽⁴⁾	01/30/2013	Common Stock	1,394	$16.7054	D
employee stock option (right to buy)	⁽⁴⁾	06/10/2008	Common Stock	8,363	$21.1045	D
employee stock option (right to buy)	⁽⁴⁾	06/10/2008	Common Stock	19,514	$21.1045	D
employee stock option (right to buy)	⁽⁴⁾	06/16/2008	Common Stock	3,557	$21.1045	D
employee stock option (right to buy)	⁽⁴⁾	06/16/2008	Common Stock	1,524	$21.1045	D
employee stock option (right to buy)	⁽⁴⁾	08/27/2013	Common Stock	4,878	$20.687	D
employee stock option (right to buy)	⁽⁴⁾	08/27/2013	Common Stock	2,090	$20.687	D
employee stock option (right to buy)	⁽⁴⁾	01/27/2010	Common Stock	10,549	$19.8605	D
employee stock option (right to buy)	⁽⁴⁾	06/29/2010	Common Stock	207	$19.8605	D
employee stock option (right to buy)	⁽⁴⁾	06/29/2010	Common Stock	5,354	$19.8605	D
employee stock option (right to buy)	08/25/2006⁽⁵⁾	08/25/2015	Common Stock	56,593	$16.8216	D
employee stock option (right to buy)	08/25/2006⁽⁵⁾	08/25/2015	Common Stock	24,255	$16.8216	D
employee stock option (right to buy)	08/31/2009⁽⁶⁾	08/31/2016	Common Stock	68,575	$14.3165	D
employee stock option (right to buy)	08/31/2009⁽⁶⁾	08/31/2016	Common Stock	29,390	$14.3165	D

Explanation of Responses:

1. Includes 22,845 restricted stock units ("RSUs") that vest in three equal installments pro rata over the three years following the date of grant, subject to continued employment with Sara Lee. Upon vesting, each RSU is convertible into shares of common stock on a one-for-one basis.

2. Includes 28,813 RSUs that may be settled only for shares of common stock. 50% of the RSU will vest on August 31, 2009, subject to the reporting person's continued employment with Sara Lee through that date. The remaining 50% of the RSU will vest on August 31, 2009 if and to the extent certain predetermined performance targets have been achieved. Depending upon the performance achieved, the reporting person could receive up to 150% of the total shares covered by the RSU. Performance targets relate to the cumulative growth in Sara Lee's diluted EPS relative to its peers.

3. Includes 20,972 RSUs that may be settled only for shares of common stock on a one-for-one basis. RSUs vest in full on August 31, 2007 to the extent predetermined performance targets have been achieved.

4. Option is fully vested and immediately exercisable as of the date of this filing. Employee stock options generally vest in three equal annual installments and expire ten years after the date of grant.

5. Option will vest in three equal annual installments beginning on August 25, 2006, subject to continued employment with Sara Lee, and expire ten years after the date of grant.

6. Option vests in full on August 31, 2009, subject to the reporting person?s continued employment with Sara Lee through that date.

Remarks:

	/s/ Helen N. Kaminski For Vincent HAM Janssen pursuant to power of attorney filed herewith.	07/26/2007
	** 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 5 (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 Number.