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^*

COGGIN JAMES A

(Last)

(First)

(Middle)

114 MEADOWBROOK NORTH

(Street)

JACKSON

39211

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
SAKS INC [ SKS ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President and CAO

3. Date of Earliest Transaction (Month/Day/Year)
03/15/2007

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	03/15/2007		M		66,952	A	$16.4456	220,174⁽¹⁾	D
Common Stock	03/15/2007		M		15,301	A	$8.6582	235,475	D
Common Stock	03/15/2007		M		344,318	A	$11	579,793	D
Common Stock	03/15/2007		M		172,158	A	$17.8634	751,951	D
Common Stock	03/15/2007		S		623,729	D	$19.3606	128,222	D
Common Stock	03/15/2007		G	V	1,000	D	⁽⁶⁾	127,222	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)
Employee Stock Option Right to Buy	$16.4456	03/15/2007		M			66,952	⁽²⁾	04/30/2009	Common Stock	66,952	$0	0	D
Employee Stock Option Right to Buy	$8.6582	03/15/2007		M			15,301	⁽³⁾	05/04/2009	Common Stock	15,301	$0	0	D
Employee Stock Option Right to Buy	$11	03/15/2007		M			344,318	⁽⁴⁾	10/02/2008	Common Stock	344,318	$0	0	D
Employee Stock Option Right to Buy	$17.8634	03/15/2007		M			172,158	⁽⁵⁾	02/02/2008	Common Stock	172,158	$0	0	D

Explanation of Responses:

1. The reporting person's holdings have been understated by 432 shares since not later than January 2003.

2. Options vest as follows: 20% 11/04/02; 20% 05/04/03; 20% 05/04/04; 20% 05/04/05; and 20% 05/04/06.

3. Option vested as follows: 20% on 11/4/2002; 20% on 5/4/2003; 20% on 5/4/2004; 20% on 5/4/2005; and 20% on 5/4/2006.

4. Option vested as follows: 20% on 4/2/1999; 20% on 10/2/1999; 20% on 10/2/2000; 20% on 10/2/2001; and 20% on 10/2/2002.

5. Option vested as follows: 20% on 8/2/1998; 20% on 2/2/1999; 20% on 2/2/2000; 20% on 2/2/2001; and 20% on 2/2/2002.

6. No price necessary.

Remarks:

	James A. Coggin	03/19/2007
	** 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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