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, 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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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*
BELK H W MCKAY
(Last) (First) (Middle)
C/O BELK, INC.
2801 WEST TYVOLA ROAD
(Street)
CHARLOTTE NC 28217-4500
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
BELK INC [ NONE ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
President/Chief Mdsing Officer
3. Date of Earliest Transaction (Month/Day/Year)
01/29/2008
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)
Code V Amount (A) or (D) Price
Class A Common Stock 788,907 ( 1 ) D
Class A Common Stock 1,221,842 ( 2 ) I Brothers Investment Company
Class A Common Stock 444,212 ( 3 ) I Milburn Investment Company
Class A Common Stock 197,866 ( 4 ) I Custodian
Class A Common Stock 33,472 ( 5 ) I Spouse
Class A Common Stock 767,094 ( 6 ) I Trustee
Class B Common Stock 01/29/2008 G 4,425 ( 7 ) D $0 34,217 ( 8 ) D
Class B Common Stock 5,264 ( 9 ) I Custodian
Class A Common Stock 257,458 ( 10 ) I Trustee GRAT #1
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. 788,907 shares of Class A common stock are held in Reporting Person's name and/or H.W. McKay Belk, Trustee U/A dated 2/1/94, Reporting Person's grantor trust.
2. 1,221,842 shares of Class A common stock are held by Brothers Investment Company, which corporation is equally owned by John M. Belk 1999 Grantor Trust and the heirs of Thomas M. Belk. Voting and investment power is shared by Susan N. Jamison, Katherine Belk Morris and Wachovia Bank National Association, Co-Trustees of the John M. Belk 1999 Grantor Trust and Katherine McKay Belk, Thomas M. Belk, Jr., H.W. McKay Belk, John R. Belk and Katherine Belk Morris, heirs of Thomas M. Belk.
3. 444,212 shares of Class A common stock are held by Milburn Investment Company. Voting and investment power is shared by Katherine McKay Belk, Thomas M. Belk, Jr., H.W. McKay Belk, John R. Belk and Katherine Belk Morris.
4. 197,866 shares of Class A common stock are held by Reporting Person as custodian of his minor children.
5. 33,472 shares of Class A common stock are held by Reporting Person's spouse, Nina F. Belk.
6. 767,094 shares of Class A common stock are held by Katherine McKay Belk Irrevocable Trust dated November 6, 2000. Voting and investment power is vested in Katherine McKay Belk, Thomas M. Belk, Jr., H.W. McKay Belk, John R. Belk and Katherine Belk Morris.
7. 4,425 shares of Class B common stock were gifted by Reporting Person to his children.
8. 34,217 shares of Class B common stock are held in Reporting Person's name and/or H.W. McKay Belk, Trustee U/A dated 2/1/94, Reporting Person's grantor trust.
9. 5,264 shares of Class B common stock are held by Reporting Person as custodian of his minor children.
10. 257,458 shares of Class A common stock are held by H.W. McKay Belk Grantor Retained Annuity Trust dated June 16, 2006. Reporting Person is the Trustee.
Remarks:
H.W. McKay Belk by Betty F. Buchanan, P.A. 01/30/2008
** 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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