Bath & Body Works, Inc. — Director's Dealing 2016

Mar 25, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: L Brands, Inc. (LB)
CIK: 0000701985
Period of Report: 2016-03-23

Reporting Person: Coe Nicholas (CEO-Bath and Body Works)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-03-23	Common Stock, $0.50 par value	M	6624.0000	$41.8789	Acquired	21459.0000	Direct
2016-03-23	Common Stock, $0.50 par value	M	5949.0000	$41.5439	Acquired	27408.0000	Direct
2016-03-23	Common Stock, $0.50 par value	S	18075.0000	$85.2400	Disposed	9333.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-03-23	Stock Option - Right to Buy	$41.8789	M	6624.0000	Disposed	2023-03-29	Common Stock, $0.50 par value (6624.0000)	Direct
2016-03-23	Stock Option - Right to Buy	$41.5439	M	5949.0000	Disposed	2022-03-30	Common Stock, $0.50 par value (5949.0000)	Direct

Footnotes

F1: Total holdings include shares acquired in connection with stock dividends exempt pursuant to Rule 16a-9.

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.