LANDS' END, INC. — Director's Dealing 2016

May 24, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LANDS' END, INC. (LE)
CIK: 0000799288
Period of Report: 2016-05-20

Reporting Person: WILLIAMS DORIAN R. (SVP/ Gen. Counsel/ Corp. Sec.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-20	Common Stock	M	1542	—	Acquired	1882	Direct
2016-05-20	Common Stock	M	2280	—	Acquired	4162	Direct
2016-05-20	Common Stock	F	689	$18.11	Disposed	3473	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-20	Restricted Stock Units	$0.0	M	1542	Disposed		Common Stock (1542.0)	Direct
2016-05-20	Restricted Stock Units	$0.0	M	2280	Disposed		Common Stock (2280.0)	Direct

Footnotes

F1: Represents shares of common stock issued under restricted stock units ("RSUs") that vested on May 20, 2015 ("Initial Vesting Date") and upon the approval of the Lands' End, Inc. Stock Plan, as amended, by the company's stockholders on June 5, 2015. RSUs that vested on the Initial Vesting Date will be settled within 30 days after May 20, 2016.

F2: RSUs convert into common stock on a one-for-one basis upon satisfaction of the vesting considerations.

F3: Represents shares of common stock issued under RSUs that vested on May 20, 2016.

F4: Represents shares surrendered to the issuer for payment of the reporting person's tax withholding obligation incurred in connection with the vesting of RSUs on May 20, 2016.

F5: On August 11, 2014, the reporting person was granted 9,118 RSUs, vesting in three installments on May 20, 2015 (25%), May 20, 2016 (25%), and May 20, 2017 (50%).