LANDS' END, INC. — Director's Dealing 2014

May 22, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LANDS END INC (LE)
CIK: 0000799288
Period of Report: 2014-05-20

Reporting Person: Martin Michele Donnan (EVP/Chief Merch & Des. Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-20	Common Stock	A	22447	—	Acquired	22447	Direct

Footnotes

F1: Restricted stock units issued under the Lands' End, Inc. Restricted Stock Unit Agreement. Each restricted stock unit represents a contingent right to receive one share of Lands' End, Inc. common stock, subject to vesting.

F2: Subject to Lands' End, Inc. achieving certain minimum earnings, the restricted stock units will vest over three years, with 25% vesting on the first anniversary of the grant date, an additional 25% on the second anniversary of the grant date, and the remaining 50% vesting on the third anniversary of the grant date. Subject to such vesting provisions, settlement of 50% of the restricted stock units will occur on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date.