SEC FORM 4

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

ALLEN DAVID W

(Last)

(First)

(Middle)

DEL MONTE CORPORATION

ONE MARKET @ THE LANDMARK

(Street)

SAN FRANCISCO

94105

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
DEL MONTE FOODS CO [ DLM ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP, Operations

3. Date of Earliest Transaction (Month/Day/Year)
09/23/2010

4. 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 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $0.01, Par Value	09/23/2010		A		11,200⁽¹⁾	A	$0⁽²⁾	136,983⁽³⁾	D

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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (right To Purchase)	$12.64	09/23/2010		A		78,700		⁽⁴⁾	09/23/2020	Common Stock, $0.01, Par Value	78,700	$0	78,700	D
Performance Share	$0⁽⁵⁾	09/23/2010		A		37,350⁽⁶⁾		⁽⁷⁾	⁽⁸⁾	Common Stock, $0.01, Par Value	37,350	$0	122,850⁽⁹⁾	D

Explanation of Responses:

1. Restricted Stock Units that vest 25% on second anniversary of grant date, 25% on third anniversary of grant date and 50% on fourth anniversary of grant date.

2. This entry reflects the grant of Restricted Stock Units and accordingly the price is left blank.

3. Includes 65,055.47 deferred stock units, 23,300 Performance Accelerated Restricted Stock Units (PARS) and 11,200 Restricted Stock Units (RSU).

4. Options generally vest 25% per year for four (4) years beginning with the first anniversary of the transaction date.

5. 1 performance share unit for 1 share of common stock.

6. Represents maximum number of shares of common stock which may be earned in connection with the 9/23/10 grant of performance share units. The target number of shares associated with the grant is 24,900.

7. Vesting of performance share units is based on the Company's level of achievement of Relative Total Shareholder Return (RTSR) over the performance period.

8. Performance share units either vest or forfeit based on the Company's level of achievement of RTSR over the performance period. Because vesting of the performance share units is tied to a performance measure that is not solely the Company's stock price (due to the impact of Company dividends and comparator group performance on RTSR), the performance share units may not currently be considered "derivative securities" under applicable rules and accordingly, to such extent, the Reporting Person may be considered to have reported these performance share units voluntarily.

9. Includes performance share units previously reported voluntarily with different vesting terms.

	/s/ James Potter, signed pursuant to power of attorney	09/27/2010
	** 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 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).
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