Bath & Body Works, Inc. — Director's Dealing 2015

Apr 16, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: L Brands, Inc. (LB)
CIK: 0000701985
Period of Report: 2015-04-13

Reporting Person: McGuigan Charles (Pres Global Sourcing&Logistics)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-04-13	Common Stock, $0.50 par value	M	22431.0000	$27.0772	Acquired	69202.0000	Direct
2015-04-13	Common Stock, $0.50 par value	M	6840.0000	$42.9091	Acquired	76042.0000	Direct
2015-04-13	Common Stock, $0.50 par value	M	6696.0000	$42.5659	Acquired	82738.0000	Direct
2015-04-13	Common Stock, $0.50 par value	F	1055.0000	$94.6800	Disposed	81683.0000	Direct
2015-04-13	Common Stock, $0.50 par value	S	47316.0000	$93.7400	Disposed	34367.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-04-13	Stock Option - Right to Buy	$42.9091	M	6840.0000	Disposed	2023-03-29	Common Stock, $0.50 par value (6840.0000)	Direct
2015-04-13	Stock Option - Right to Buy	$27.0772	M	22431.0000	Disposed	2021-03-30	Common Stock, $0.50 par value (22431.0000)	Direct
2015-04-13	Stock Option - Right to Buy	$42.5659	M	6696.0000	Disposed	2022-03-30	Common Stock, $0.50 par value (6696.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.50 par value	3952.6600	Indirect

Footnotes

F1: Price represents a weighted average of the sale price. Shares were sold at prices ranging from $93.57 to $93.86. Upon the request by the SEC staff, the Issuer, or a security holder of the Issuer, the reporting person will provide the full information about the number of shares sold at each separate price.

F2: Previously reported stock option has been adjusted to reflect a special stock dividend declared by the Issuer and exempt pursuant to Rule 16a-9.

F3: Option vests 20% on each of the second and third anniversaries of the date of grant and 30% on each of the fourth and fifth anniversaries of the date of grant.