Malon Wilkus Form 4 AMERICAN CAPITAL / MALON WILKUS ownership change

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^*

WILKUS MALON

(Last) (First) (Middle)

AMERICAN CAPITAL, LTD.

2 BETHESDA METRO CENTER, 14TH FLOOR

(Street)

BETHESDA MD 20814

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AMERICAN CAPITAL, LTD [ ACAS ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
CEO

3. Date of Earliest Transaction (Month/Day/Year)
12/21/2016

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
Common Stock	12/21/2016		M		154,281	A	$2.51	2,777,109	D
Common Stock	12/21/2016		M		118,760	A	$2.71	2,777,109	D
Common Stock	12/21/2016		M		154,281	A	$2.15	2,777,109	D
Common Stock	12/21/2016		M		13,735	A	$2.77	2,777,109	D
Common Stock								91,963	I	Owned by Spouse
Common Stock								80,934	I	401(k)
Common Stock								1,306	I	IRA

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
Stock Options	$2.51(1)	12/21/2016		M			154,281	05/26/2010	05/26/2019	Common Stock	154,281	$0	0	D
Stock Options	$2.71	12/21/2016		M			118,760	06/23/2010	06/23/2019	Common Stock	118,760	$0	0	D
Stock Options	$2.15(2)	12/21/2016		M			154,281	04/24/2010	04/24/2019	Common Stock	154,281	$0	0	D
Stock Options	$2.77	12/21/2016		M			13,735	11/11/2010	11/11/2019	Common Stock	13,735	$0	177,592	D

Explanation of Responses:

1. On June 11, 2009, the company declared a stock dividend payable to all holders of record of common stock on June 22, 2009. Pursuant to the anti-dilution provisions of the Company's stock option plan, an option for 118,760 shares of common stock with an exercise price of $3.26 held by the reporting person on June 22, 2009 became exercisable for 154,281 shares of common stock with an exercise price of $2.51.

2. On June 11, 2009, the company declared a stock dividend payable to all holders of record of common stock on June 22, 2009. Pursuant to the anti-dilution provisions of the Company's stock option plan, an option for 118,760 shares of common stock with an exercise price of $2.79 held by the reporting person on June 22, 2009 became exercisable for 154,281 shares of common stock with an exercise price of $2.15.

Remarks:

	Malon Wilkus	12/23/2016
	** 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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