-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 QND65tYvc/kG+iwwQsFk5D5Ywfkq3bq3A9+HFASQAAKf5RnlObqSCLWQSm4tMVyv
 rtiHBI3hyc2PWPmosROVDg==

<SEC-DOCUMENT>0001181431-08-018995.txt : 20080314
<SEC-HEADER>0001181431-08-018995.hdr.sgml : 20080314
<ACCEPTANCE-DATETIME>20080314202416
ACCESSION NUMBER:		0001181431-08-018995
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080312
FILED AS OF DATE:		20080314
DATE AS OF CHANGE:		20080314

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			J C PENNEY CORP INC
		CENTRAL INDEX KEY:			0000077182
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-DEPARTMENT STORES [5311]
		IRS NUMBER:				135583779
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0126

	BUSINESS ADDRESS:	
		STREET 1:		6501 LEGACY DR
		CITY:			PLANO
		STATE:			TX
		ZIP:			75024-3698
		BUSINESS PHONE:		9724311000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PENNEY J C CO INC
		DATE OF NAME CHANGE:	19920703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ULLMAN MYRON E III
		CENTRAL INDEX KEY:			0001219802

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-00777
		FILM NUMBER:		08690932

	MAIL ADDRESS:	
		STREET 1:		100 SPEAR ST. SUITE 935
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94105
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd199819.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-03-12</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000077182</issuerCik>
        <issuerName>J C PENNEY CORP INC</issuerName>
        <issuerTradingSymbol>JCP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001219802</rptOwnerCik>
            <rptOwnerName>ULLMAN MYRON E III</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O J. C. PENNEY COMPANY, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>6501 LEGACY DRIVE</rptOwnerStreet2>
            <rptOwnerCity>PLANO</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75024</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chairman and CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock of 50 cent Par Value</value>
            </securityTitle>
            <transactionDate>
                <value>2008-03-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>50277</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>365379.7849</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock of 50 cent Par Value</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1273.5745</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Trustee of 401(k)</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee stock option/Right to Buy</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>39.78</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-03-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>287770</value>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2018-03-11</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>287770</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>287770</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents restricted stock units granted under the Company's 2005 Equity Compensation Plan.  The restricted stock units will vest one-third on March 12, 2009, March 12, 2010 and March 12, 2011, respectively.</footnote>
        <footnote id="F2">Represents equivalent shares based on units of participation in the JCPenney stock fund allocated to Mr. Ullman's account in the Company's 401(k) plan, as of March 1, 2008.  The shares of JCPenney common stock in the fund are held by the trustee of the 401(k) plan.  Changes in the amount of securities beneficially owned reflect changes in the value of the fund, the number of units of participation in the fund held by all participants, and the number of units of participation held by Mr. Ullman.</footnote>
        <footnote id="F3">Represents grant of employee stock options under the Company's 2005 Equity Compensation Plan which vest one-third on March 12, 2009, one-third on March 12, 2010, and one-third on March 12, 2011.</footnote>
        <footnote id="F4">Represents current grant of stock options.  Including the reported grant, Mr. Ullman beneficially owns an aggregate of 677,016 stock options at various exercise prices.</footnote>
    </footnotes>

    <remarks>***Under continuing POA as filed with the SEC</remarks>

    <ownerSignature>
        <signatureName>***/s/ Salil R. Virkar, attorney in fact</signatureName>
        <signatureDate>2008-03-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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