Wexner Leslie H. Form 4 L Brands / Leslie H. Wexner 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^*

Wexner Leslie H.

(Last)

(First)

(Middle)

C/O N.A. PROPERTY, INC.

8000 WALTON PARKWAY

(Street)

NEW ALBANY

43054

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
L Brands, Inc. [ LB ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
05/13/2021

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/13/2021		M⁽¹⁾		161,559	A	$45.03	15,465,143⁽²⁾⁽³⁾⁽⁴⁾	D⁽²⁾⁽³⁾⁽⁴⁾
Common Stock	05/13/2021		M⁽¹⁾		55,129	A	$41.88	15,520,302⁽²⁾⁽³⁾⁽⁴⁾	D⁽²⁾⁽³⁾⁽⁴⁾
Common Stock	05/13/2021		M⁽¹⁾		124,191	A	$49.38	15,644,493⁽²⁾⁽³⁾⁽⁴⁾	D⁽²⁾⁽³⁾⁽⁴⁾
Common Stock	05/13/2021		M⁽¹⁾		42,585	A	$54.21	15,687,078⁽²⁾⁽³⁾⁽⁴⁾	D⁽²⁾⁽³⁾⁽⁴⁾
Common Stock	05/13/2021		M⁽¹⁾		37,834	A	$61.85	15,724,912⁽²⁾⁽³⁾⁽⁴⁾	D⁽²⁾⁽³⁾⁽⁴⁾
Common Stock	05/13/2021		M⁽¹⁾		9,554	A	$47.1	15,734,466⁽²⁾⁽³⁾⁽⁴⁾	D⁽²⁾⁽³⁾⁽⁴⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock option (right to buy)	$45.03⁽⁵⁾	05/13/2021		M⁽¹⁾			161,559⁽⁵⁾	⁽⁶⁾	05/14/2021⁽⁸⁾	Common Stock	161,559⁽⁵⁾	⁽⁷⁾	0	D⁽²⁾⁽⁴⁾
Stock option (right to buy)	$41.88⁽⁵⁾	05/13/2021		M⁽¹⁾			55,129⁽⁵⁾	⁽⁶⁾	05/14/2021⁽⁸⁾	Common Stock	55,129⁽⁵⁾	⁽⁷⁾	0	D⁽²⁾⁽⁴⁾
Stock option (right to buy)	$49.38⁽⁵⁾	05/13/2021		M⁽¹⁾			124,191⁽⁵⁾	⁽⁶⁾	05/14/2021⁽⁸⁾	Common Stock	124,191⁽⁵⁾	⁽⁷⁾	0	D⁽²⁾⁽⁴⁾
Stock option (right to buy)	$54.21⁽⁵⁾	05/13/2021		M⁽¹⁾			42,585⁽⁵⁾	⁽⁶⁾	05/14/2021⁽⁸⁾	Common Stock	42,585⁽⁵⁾	⁽⁷⁾	0	D⁽²⁾⁽⁴⁾
Stock option (right to buy)	$61.85⁽⁵⁾	05/13/2021		M⁽¹⁾			37,834⁽⁵⁾	⁽⁶⁾	05/14/2021⁽⁸⁾	Common Stock	37,834⁽⁵⁾	⁽⁷⁾	0	D⁽²⁾⁽⁴⁾
Stock option (right to buy)	$47.1⁽⁵⁾	05/13/2021		M⁽¹⁾			9,554⁽⁵⁾	⁽⁶⁾	05/14/2021⁽⁸⁾	Common Stock	9,554⁽⁵⁾	⁽⁷⁾	0	D⁽²⁾⁽⁴⁾

1. Name and Address of Reporting Person^*

Wexner Leslie H.

(Last)

(First)

(Middle)

C/O N.A. PROPERTY, INC.

8000 WALTON PARKWAY

(Street)

NEW ALBANY

43054

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

WEXNER ABIGAIL S

(Last)

(First)

(Middle)

C/O N.A. PROPERTY, INC.

8000 WALTON PARKWAY

(Street)

NEW ALBANY

43054

(City)

(State)

(Zip)

Explanation of Responses:

1. Stock option exercised by Leslie H. Wexner ("Mr. Wexner").

2. Owned by Mr. Wexner directly. Owned by Abigail S. Wexner ("Mrs. Wexner") indirectly, through Mr. Wexner.

3. See Exhibit 99.1 for a table of all non-derivative shares of the Issuer beneficially owned directly or indirectly by Mr. Wexner and Mrs. Wexner.

4. Mr. Wexner and Mrs. Wexner disclaim beneficial ownership of all indirectly owned securities reported on this Form in excess of their respective pecuniary interests therein.

5. Reflects adjustments from antidilution etc. pursuant to the Issuer's stock plan.

6. Immediately.

7. Not applicable.

8. Reflects adjustment in connection with Mr. Wexner stepping down as CEO.

Remarks:

Exhibit 99.1 - Additional Responses and Joint Filer Information, incorporated herein by reference.

	/s/ Leslie H. Wexner	05/17/2021
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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Wexner Leslie H. Form 4L Brands / Leslie H. Wexner ownership change