LANDS' END, INC. — Director's Dealing 2018

May 9, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LANDS' END, INC. (LE)
CIK: 0000799288
Period of Report: 2018-05-08

Reporting Person: GRAY PETER L (EVP, CAO & General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-05-08	Common Stock	M	5681	—	Acquired	10731	Direct
2018-05-08	Common Stock	F	1818	$19.35	Disposed	8913	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-05-08	Restricted Stock Units	$0.0	M	5681	Disposed		Common Stock (5681.0)	Direct

Footnotes

F1: Each Restricted Stock Unit ("RSU") represented a contingent right to receive one share of common stock upon satisfaction of the vesting conditions.

F2: 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 8, 2018.

F3: This RSU award was granted on May 8, 2017, with vesting in four annual installments on May 8, 2018 (25%), May 8, 2019 (25%), May 8, 2020 (25%), and May 8, 2021 (25%).

F4: Of the total number of RSUs, 11,415 RSUs will vest in three annual installments on March 26, 2019 (25%), March 26, 2020 (25%) and March 26, 2021 (50%); 2,841 RSUs will vest on May 1, 2019; 5,682 RSUs will vest on May 1, 2020; 5,681 RSUs will vest on May 8, 2019; 5,681 RSUs will vest on May 8, 2020; and 5,684 RSUs will vest on May 8, 2021; subject in each case to the satisfaction of vesting conditions, including continued employment.