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^*

Garvey Mark A

(Last)

(First)

(Middle)

C/O SARA LEE CORPORATION

3500 LACEY ROAD

(Street)

DOWNERS GROVE

60515

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/01/2010

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)
	VP & Corp Controller

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	35,885	D
Common Stock	115,043⁽¹⁾	D
Common Stock	879	I	By 401(k) plan

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)	⁽²⁾	04/27/2010	common stock	2,136	$19.8	D
employee stock option (right to buy)	⁽²⁾	04/27/2010	common stock	1,814	$18.34	D
employee stock option (right to buy)	⁽²⁾	04/27/2010	common stock	3,835	$19.77	D
employee stock option (right to buy)	⁽²⁾	04/27/2010	common stock	2,993	$20.9	D
employee stock option (right to buy)	⁽²⁾	08/30/2011	common stock	17,424	$18.83	D
employee stock option (right to buy)	⁽²⁾	08/29/2012	common stock	3,486	$15.96	D
employee stock option (right to buy)	⁽²⁾	08/29/2012	common stock	2,902	$20.9	D
employee stock option (right to buy)	⁽²⁾	08/29/2012	common stock	3,010	$19.77	D
employee stock option (right to buy)	⁽²⁾	01/30/2013	common stock	2,556	$16.705	D
employee stock option (right to buy)	⁽²⁾	01/30/2013	common stock	866	$19.77	D
employee stock option (right to buy)	⁽²⁾	01/30/2013	common stock	263	$20.9	D
employee stock option (right to buy)	08/27/2009	08/27/2019⁽³⁾	common stock	103,526	$9.79	D

Explanation of Responses:

1. Consists of restricted stock units ("RSU") that may be settled only for shares of common stock. RSUs will vest, subject to the reporting person's continued employment with Sara Lee through the vesting date, on the following schedule: 33,354 RSUs will vest on August 31, 2010; 43,384 RSUs will vest on August 31, 2011; and 38,305 RSU will vest on August 31, 2012. Upon vesting, the RSUs will be converted into shares of common stock on a one-for-one basis.

2. Option is 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.

3. Option vests in full on August 31, 2012, subject to the reporting person's continued employment with Sara Lee through that date.

Remarks:

Mr. Garvey ceased to be a reporting person of Sara Lee Corporation as of October 1, 2009, when he ceased to be Sara Lee's Interim CFO. He became a reporting person on March 1, 2010 due to his appointment as Corporate Controller (principal accounting officer).

	/s/ Helen S. Kaminski for Mark A. Garvey pursuant to power of attorney previously filed.	03/08/2010
	** 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).
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