XOTC:BLKIB Belk Inc Class B Insider Activity 4 Filing - 5/10/2012

Effective Date 5/10/2012

XOTC:BLKIB (Belk Inc Class B): Fair Value Estimate
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XOTC:BLKIB (Belk Inc Class B): Fair Value Uncertainty
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XOTC:BLKIB (Belk Inc Class B): Stewardship
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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 *
GAMBRELL SARAH BELK
  2. Issuer Name and Ticker or Trading Symbol
BELK INC [NONE]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
C/O BELK, INC., 2801 WEST TYVOLA ROAD
3. Date of Earliest Transaction (Month/Day/Year)
05/10/2012
(Street)

CHARLOTTE, NC 28217
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
Class A Common Stock               6,926,345(1) D  
Class A Common Stock               1,140,080(2) I Trusts u/w W.H. Belk
Class A Common Stock               1,436,385(3) I Trusts u/w Mary I. Belk
Class A Common Stock 05/10/2012   P   3,078(4) A $40.8(4) 176,078(5) I Gambrell Legacy, LLC
Class B Common Stock 05/10/2012   P   454(6) A $40.8(6) 454(7) I Gambrell Legacy, LLC

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

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
GAMBRELL SARAH BELK
C/O BELK, INC.
2801 WEST TYVOLA ROAD
CHARLOTTE, NC 28217
    X    

Signatures

 Sarah Belk Gambrell by Betty F. Buchanan, P.A.   05/11/2012
** 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) 6,926,345 shares of Class A common stock are held in the name of Sarah Belk Gambrell, as Trustee of the Sarah Belk Gambrell Restated 1999 Revocable Trust. Voting and investment power is held by Sarah Belk Gambrell, the trustee.
(2) 1,140,080 shares of Class A common stock are held in several trusts established by the Will of W.H. Belk for the benefit of his children. Voting and investment power of the trusts for John M. Belk and Thomas M. Belk is held by Sarah Belk Gambrell. Voting and investment power of the trusts for Sarah Belk Gambrell, W. H. Belk, Jr. and Henderson Belk is shared by Sarah Belk Gambrell and Irwin Belk.
(3) 1,436,385 shares of Class A common stock are held in several trusts established by the Will of Mary I. Belk for the benefit of her children. Voting and investment power of the trusts for John M. Belk and Thomas M. Belk is held by Sarah Belk Gambrell. Voting and investment power of the trusts for Sarah Belk Gambrell, W.H. Belk, Jr. and Henderson Belk is shared by Sarah Belk Gambrell and Irwin Belk.
(4) 3,078 shares of Class A common stock were purchased by Gambrell Legacy, LLC AT $40.80 per share.
(5) 176,078 shares of Class A common stock are held in the name of Gambrell Legacy, LLC. Voting and investment power is held by Sarah Belk Gambrell.
(6) 454 shares of Class B common stock were purchased by Gambrell Legacy, LLC AT $40.80 per share.
(7) 454 shares of Class B common stock are held in the name of Gambrell Legacy, LLC. Voting and investment power is held by Sarah Belk Gambrell.

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XOTC:BLKIB Belk Inc Class B Insider Activity 4 Filling

Belk Inc Class B XOTC:BLKIB Stock - Get Insider Activity SEC Filing of Belk Inc Class B XOTC:BLKIB stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

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XOTC:BLKIB Belk Inc Class B Insider Activity 4 Filing - 5/10/2012
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