Bread Financial (BFH) Form 4 ALLIANCE DATA SYSTEMS / Laura Santillan 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^*

Santillan Laura

(Last) (First) (Middle)

7500 DALLAS PARKWAY, SUITE 700

(Street)

PLANO TX 75024

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ALLIANCE DATA SYSTEMS CORP [ ADS ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
SVP, Chief Acctg. Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/15/2017

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	02/15/2017		A(1)		455	A	(1)	22,049	D
Common Stock	02/15/2017		A(2)		1,824	A	(2)	23,873	D
Common Stock	02/16/2017		F(3)		171	D	$230.95	23,522(4)(5)	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The new grant is for 455 shares of common stock represented by time-based restricted stock units. The restrictions will lapse on 150 units on each of 2/15/18 and 2/15/19 and on 155 units on 2/18/20, subject to continued employment by the Reporting Person on the vesting dates.

2. The new grant is for 1,824 shares of common stock represented by performance-based restricted stock units, which may be adjusted up or down upon assessment of the EBT performance metric for 2017. Following any such adjustment, restrictions will lapse with respect to 33% of such shares on each of 2/15/18 and 2/15/19 and with respect to 34% of such shares on 2/18/20, subject to continued employment by the Reporting Person on the vesting dates.

3. Shares withheld by the Company to satisfy the Reporting Person's tax withholding obligation upon the vesting of restricted stock units.

4. The total number of securities beneficially owned includes: (a) 17,707 unrestricted shares; (b) 400 shares held in an IRA account; (c) 120 unvested units from an award of 352 time-based restricted stock units granted 2/18/14; (d) 649 unvested units from an award of 1,908 performance-based restricted stock units granted 2/18/14; (e) 222 unvested units from an award of 331 time-based restricted stock units granted 2/17/15; (f) 890 unvested units from an award of 1,327 performance-based restricted stock units granted 2/17/15; (g) 274 unvested units from an award of 410 time-based restricted stock units granted 2/16/16; (h) 981 unvested units from an award of 1,464 performance-based restricted stock units granted 2/16/16; (i) the new grant for 455 time-based restricted stock units; and (j) the new grant for 1,824 performance-based restricted stock units.

5. The compensation committee's assessment of EBT performance for 2016 resulted in 89% payout of the original award of 1,644 performance-based restricted stock units granted 2/16/16, and 1,464 units were earned. The restrictions will lapse with respect to 484 units on 2/16/18 and with respect to 497 units on 2/19/19, subject to continued employment by the Reporting Person on the remaining vesting dates.

Remarks:

	Cynthia L. Hageman, Attorney in Fact	02/17/2017
	** 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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