AWN reports that the release date for Shrek 4 has been set by DreamWorks Animation and Paramount as May 21, 2010. DreamWorks Animation chief Jeffrey Katzenberg said during an earnings call earlier this week that there will be a Shrek 5 as well. Shrek The Third turned out to be a big moneyspinner for Dreamworks, grossing around $400 million worldwide since its premiere this summer.