Jeffrey C Smith Form 3 ADVANCE AUTO PARTS / Jeffrey C Smith ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Smith Jeffrey C

(Last)

(First)

(Middle)

777 THIRD AVENUE, 18TH FLOOR

(Street)

NEW YORK

10017

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
11/11/2015

3. Issuer Name and Ticker or Trading Symbol
ADVANCE AUTO PARTS INC [ AAP ]

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

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, $0.0001 Par Value	467,875	I	By Starboard Value and Opportunity Master Fund Ltd⁽¹⁾
Common Stock, $0.0001 Par Value	115,900	I	By Starboard Value and Opportunity S LLC⁽²⁾
Common Stock, $0.0001 Par Value	63,549	I	By Starboard Value and Opportunity C LP⁽³⁾
Common Stock, $0.0001 Par Value	281,794	I	By Starboard T Fund LP⁽⁴⁾
Common Stock, $0.0001 Par Value	186,206	I	By Starboard Leaders Select I LP⁽⁵⁾
Common Stock, $0.0001 Par Value	440,105	I	By Starboard Leaders India LLC⁽⁶⁾
Common Stock, $0.0001 Par Value	151,947	I	By Managed Account of Starboard Value LP⁽⁷⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Cash-Settled Total Return Swap	⁽⁸⁾	09/15/2016	Common Stock, $0.0001 Par Value	122,040	173.7322⁽⁹⁾	I	By Starboard Value and Opportunity Master Fund Ltd⁽¹⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	09/15/2016	Common Stock, $0.0001 Par Value	57,960	172.3898⁽⁹⁾	I	By Starboard Value and Opportunity Master Fund Ltd⁽¹⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	09/15/2016	Common Stock, $0.0001 Par Value	18,000	170.4512⁽⁹⁾	I	By Starboard Value and Opportunity Master Fund Ltd⁽¹⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	09/15/2016	Common Stock, $0.0001 Par Value	50,324	170.7716⁽⁹⁾	I	By Starboard Value and Opportunity Master Fund Ltd⁽¹⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	09/16/2016	Common Stock, $0.0001 Par Value	20,920	186.0826⁽⁹⁾	I	By Starboard Value and Opportunity Master Fund Ltd⁽¹⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	09/22/2016	Common Stock, $0.0001 Par Value	7,260	185.109⁽⁹⁾	I	By Starboard Value and Opportunity Master Fund Ltd⁽¹⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	09/22/2016	Common Stock, $0.0001 Par Value	9,930	185.6166⁽⁹⁾	I	By Starboard Value and Opportunity Master Fund Ltd⁽¹⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	09/26/2016	Common Stock, $0.0001 Par Value	45,000	180.2404⁽⁹⁾	I	By Starboard Value and Opportunity Master Fund Ltd⁽¹⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	09/29/2016	Common Stock, $0.0001 Par Value	36,000	174.5785⁽⁹⁾	I	By Starboard Value and Opportunity Master Fund Ltd⁽¹⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	09/29/2016	Common Stock, $0.0001 Par Value	18,000	170.979⁽⁹⁾	I	By Starboard Value and Opportunity Master Fund Ltd⁽¹⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	10/06/2016	Common Stock, $0.0001 Par Value	32,000	172.8276⁽⁹⁾	I	By Starboard Value and Opportunity Master Fund Ltd⁽¹⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	10/07/2016	Common Stock, $0.0001 Par Value	18,300	171.8116⁽⁹⁾	I	By Starboard Value and Opportunity Master Fund Ltd⁽¹⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	11/02/2016	Common Stock, $0.0001 Par Value	15,171	171.94⁽⁹⁾	I	By Starboard Value and Opportunity Master Fund Ltd⁽¹⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	11/03/2016	Common Stock, $0.0001 Par Value	9,423	171.105⁽⁹⁾	I	By Starboard Value and Opportunity Master Fund Ltd⁽¹⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	09/16/2016	Common Stock, $0.0001 Par Value	214,080	186.0826⁽⁹⁾	I	By Starboard Leaders India LLC⁽⁶⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	09/22/2016	Common Stock, $0.0001 Par Value	67,740	185.109⁽⁹⁾	I	By Starboard Leaders India LLC⁽⁶⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	09/22/2016	Common Stock, $0.0001 Par Value	140,070	185.6166⁽⁹⁾	I	By Starboard Leaders India LLC⁽⁶⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	09/22/2016	Common Stock, $0.0001 Par Value	50,000	187.7751⁽⁹⁾	I	By Starboard Leaders India LLC⁽⁶⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	09/23/2016	Common Stock, $0.0001 Par Value	25,000	186.9712⁽⁹⁾	I	By Starboard Leaders India LLC⁽⁶⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	10/13/2016	Common Stock, $0.0001 Par Value	25,000	175.34⁽⁹⁾	I	By Starboard Leaders India LLC⁽⁶⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	11/02/2016	Common Stock, $0.0001 Par Value	24,829	171.94⁽⁹⁾	I	By Starboard Leaders India LLC⁽⁶⁾⁽⁸⁾
Cash-Settled Total Return Swap	⁽⁸⁾	11/03/2016	Common Stock, $0.0001 Par Value	40,577	171.105⁽⁹⁾	I	By Starboard Leaders India LLC⁽⁶⁾⁽⁸⁾

Explanation of Responses:

1. Securities owned directly by Starboard Value and Opportunity Master Fund Ltd ("Starboard V&O Fund"). The Reporting Person, solely by virtue of his position as a member of the Management Committee of Starboard Value GP LLC ("Starboard Value GP"), the general partner of the investment manager of Starboard V&O Fund, and as a member and member of the Management Committee of Starboard Principal Co GP LLC ("Principal GP"), the general partner of the member of Starboard Value GP, may be deemed to beneficially own the securities directly held by Starboard V&O Fund for purposes of Section 16 of the Securities Exchange Act of 1934, as amended ("Section 16"). The Reporting Person expressly disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

2. Securities owned directly by Starboard Value and Opportunity S LLC ("Starboard S LLC"). The Reporting Person, solely by virtue of his position as a member of the Management Committee of Starboard Value GP, the general partner of the manager of Starboard S LLC, and as a member and member of the Management Committee of Principal GP, the general partner of the member of Starboard Value GP, may be deemed to beneficially own the securities directly held by Starboard S LLC for purposes of Section 16. The Reporting Person expressly disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

3. Securities owned directly by Starboard Value and Opportunity C LP ("Starboard C LP"). The Reporting Person, solely by virtue of his position as a member of the Management Committee of Starboard Value GP, the general partner of the investment manager of Starboard C LP, and as a member and member of the Management Committee of Principal GP, the general partner of the member of Starboard Value GP, may be deemed to beneficially own the securities directly held by Starboard C LP for purposes of Section 16. The Reporting Person expressly disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

4. Securities owned directly by Starboard T Fund LP ("Starboard T LP"). The Reporting Person, solely by virtue of his position as a member of the Management Committee of Starboard Value GP, the general partner of the investment manager of Starboard T LP, and as a member and member of the Management Committee of Principal GP, the general partner of the member of Starboard Value GP, may be deemed to beneficially own the securities directly held by Starboard T LP for purposes of Section 16. The Reporting Person expressly disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

5. Securities owned directly by Starboard Leaders Select I LP ("Starboard Leaders Select I"). The Reporting Person, solely by virtue of his position as a member of the Management Committee of Starboard Value GP, the general partner of the investment manager of Starboard Leaders Select I, and as a member and member of the Management Committee of Principal GP, the general partner of the member of Starboard Value GP, may be deemed to beneficially own the securities directly held by Starboard Leaders Select I for purposes of Section 16. The Reporting Person expressly disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

6. Securities owned directly by Starboard Leaders India LLC ("Starboard India LLC"). The Reporting Person, solely by virtue of his position as a member of the Management Committee of Starboard Value GP, the general partner of the investment manager of Starboard India LLC, and as a member and member of the Management Committee of Principal GP, the general partner of the member of Starboard Value GP, may be deemed to beneficially own the securities owned directly by Starboard India LLC for purposes of Section 16. The Reporting Person expressly disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

7. Securities held in an account managed by Starboard Value LP (the "Managed Account"). The Reporting Person, solely by virtue of his position as a member of the Management Committee of Starboard Value GP, the general partner of Starboard Value LP, and as a member and member of the Management Committee of Principal GP, the general partner of the member of Starboard Value GP, may be deemed to beneficially own the securities held in the Managed Account for purposes of Section 16. The Reporting Person expressly disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

8. Each of Starboard V&O Fund and Starboard India LLC has entered into certain cash-settled total return swap agreements (the "Swap Agreements") with an unaffiliated third party financial institution, which provide each of Starboard V&O Fund and Starboard India LLC with economic exposure to an aggregate of 460,328 notional shares and 587,296 notional shares, respectively. The Swap Agreements provide each of Starboard V&O Fund and Starboard India LLC with economic results that are comparable to the economic results of ownership but do not provide each of Starboard V&O Fund and Starboard India LLC with the power to vote or direct the voting or dispose of or direct the disposition of the shares of common stock that are the subject of the Swap Agreements (the "Subject Shares"). The Reporting Person expressly disclaims beneficial ownership of the Subject Shares except to the extent of his pecuniary interest therein.

9. Represents the reference price associated with the applicable Swap Agreement.

	/s/ Jeffrey C. Smith	11/23/2015
	** 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 5 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Jeffrey C Smith Form 3ADVANCE AUTO PARTS / Jeffrey C Smith ownership change