XNYS:BLC Insider Activity 4 Filing - 3/1/2012

Effective Date 3/1/2012

FORM 4
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

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(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
KERR GUY H
  2. Issuer Name and Ticker or Trading Symbol
BELO CORP [BLC]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP/Law & Govt and Secretary
(Last)
(First)
(Middle)
BELO CORP., 400 S. RECORD STREET
3. Date of Earliest Transaction (Month/Day/Year)
03/01/2012
(Street)

DALLAS, TX 75202
4. If Amendment, Date 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
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction 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
Series A Common Stock 03/01/2012   M   9,529(1) A (2) 144,919 D  
Series A Common Stock 03/01/2012   D(3)   3,812(3) D $7.22 141,107 D  
Series A Common Stock               1,719 I 401(k) Account(4)
Series A Common Stock               400 I By Daughter(7)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction 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
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(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
Restricted Stock Units (Performance-Related)(5) (2) 03/01/2012   A   28,589     (6)   (6) Series A Common Stock 28,589(2) $ 0 28,589 D  
Restricted Stock Units (Performance-Related)(5) (2) 03/01/2012   M     9,529   (6)   (6) Series A Common Stock 9,529(2) $ 0 19,060 D  
Restricted Stock United (Time-Based) (2) 03/01/2012   A   31,800     (8)   (8) Series A Common Stock 31,800(2) $ 0 31,800 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
KERR GUY H
BELO CORP.
400 S. RECORD STREET
DALLAS, TX 75202
      EVP/Law & Govt and Secretary  

Signatures

 Christine E. Larkin, Attorney-In-Fact   03/05/2012
** Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) The number of shares shown represents the portion of the March 3, 2011 performance-related restricted stock units (PBRSUs) that vested and were paid on March 1, 2012. These PBRSUs were awarded on March 3, 2011, as described below in footnote 5.
(2) Each restricted stock unit represents a contingent right to receive the value of one share of Belo Series A Common Stock. RSUs are valued as of the date of vesting and are paid 60% in shares of Belo Series A Common Stock and 40% in cash.
(3) The number of shares shown represents settlement of the 40% cash portion of PBRSUs that vested and were paid on March 1, 2012. Pursuant to SEC guidance, setlement of the cash portion is deemed a disposition of shares to the Company.
(4) Held by the Belo Savings Plan as of March 1, 2012.
(5) These PBRSUs were awarded on March 3, 2011. The actual number of PBRSUs earned was determined on March 1, 2012.
(6) One-third of these PBRSUs vests and is paid out as soon as practicable following each annual earnings release date for the fiscal years ending December 31, 2011, 2012 and 2013.
(7) The reporting person disclaims beneficial ownership of these securities.
(8) These TBRSUs vest 100% on the later of February 15, 2015 and the date of the Belo Corp. annual earnings release for the fiscal year ending December 31, 2014 and are settled within 10 business days thereafter.

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XNYS:BLC Insider Activity 4 Filling

XNYS:BLC Stock - Get Insider Activity SEC Filing of XNYS:BLC stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

XNYS:BLC Insider Activity 4 Filing - 3/1/2012
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Title |  Date |  Author |  Collection |  Interest |  Popularity Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Popularity |  Our Choices |  Most Recent Title |  Date |  Company |  Symbol |  Interest |  Popularity

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