Sec Form 4 Filing - Wexner Leslie H. @ L Brands, Inc.

Insider filing report for Changes in Beneficial Ownership

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FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person

Wexner Leslie H.

2. Issuer Name and Ticker or Trading Symbol
L Brands, Inc. [ LB]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X __ Director	X __ 10% Owner
X __ Officer (give title below)	_____ Other (specify below)
Chairman and CEO

(Last)

(First)

(Middle)

C/O L BRANDS, INC., THREE LIMITED PARKWAY

3. Date of Earliest Transaction (MM/DD/YY)
04/06/2017

(Street)

COLUMBUS, OH43216

4. If Amendment, Date Original Filed (MM/DD/YY)

6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

**Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned**
1.Title of Security (Instr. 3)	2. Transaction Date (MM/DD/YY)	2A. Deemed Execution Date, if any (MM/DD/YY)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (MM/DD/YY)	2A. Deemed Execution Date, if any (MM/DD/YY)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/06/2017		M^{( 1 )}		238,951	A	$ 12.0776	16,698,975 ^{( 2 )} ^{( 3 )} ^{( 4 )}	D ^{( 2 )} ^{( 3 )} ^{( 4 )}
Common Stock	04/06/2017		M^{( 1 )}		384,567	A	$ 6.1448	17,083,542 ^{( 2 )} ^{( 3 )} ^{( 4 )}	D ^{( 2 )} ^{( 3 )} ^{( 4 )}
Common Stock	04/06/2017		M^{( 1 )}		127,639	A	$ 18.088	17,211,181 ^{( 2 )} ^{( 3 )} ^{( 4 )}	D ^{( 2 )} ^{( 3 )} ^{( 4 )}
Common Stock	04/06/2017		M^{( 1 )}		305,224	A	$ 23.6382	17,516,405 ^{( 2 )} ^{( 3 )} ^{( 4 )}	D ^{( 2 )} ^{( 3 )} ^{( 4 )}
Common Stock	04/06/2017		M^{( 1 )}		87,361	A	$ 26.4271	17,603,766 ^{( 2 )} ^{( 3 )} ^{( 4 )}	D ^{( 2 )} ^{( 3 )} ^{( 4 )}
Common Stock	04/06/2017		M^{( 1 )}		202,039	A	$ 35.7103	17,805,805 ^{( 2 )} ^{( 3 )} ^{( 4 )}	D ^{( 2 )} ^{( 3 )} ^{( 4 )}
Common Stock	04/06/2017		M^{( 1 )}		55,572	A	$ 41.5439	17,861,377 ^{( 2 )} ^{( 3 )} ^{( 4 )}	D ^{( 2 )} ^{( 3 )} ^{( 4 )}

**Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned**
( *e.g.* , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (MM/DD/YY)	3A. Deemed Execution Date, if any (MM/DD/YY)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)		6. Date Exercisable and Expiration Date (MM/DD/YY)		7. Title and Amount of Underlying Securities (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (MM/DD/YY)	3A. Deemed Execution Date, if any (MM/DD/YY)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock option (right to buy)	$ 12.0776 ^{( 5 )} ^{( 6 )}	04/06/2017		M^{( 1 )}^{( 6 )}			238,951 ^{( 5 )} ^{( 6 )}	^{( 6 )}	03/31/2018	Common Stock	238,951 ^{( 5 )} ^{( 6 )}	^{( 13 )}	0	D ^{( 2 )} ^{( 3 )}
Stock option (right to buy)	$ 6.1448 ^{( 5 )} ^{( 6 )}	04/06/2017		M^{( 1 )}^{( 7 )}			384,567 ^{( 5 )} ^{( 7 )}	^{( 7 )}	03/31/2019	Common Stock	384,567 ^{( 5 )} ^{( 7 )}	^{( 13 )}	0	D ^{( 2 )} ^{( 3 )}
Stock option (right to buy)	$ 18.088 ^{( 5 )} ^{( 6 )}	04/06/2017		M^{( 1 )}^{( 8 )}			127,639 ^{( 5 )} ^{( 8 )}	^{( 8 )}	03/31/2020	Common Stock	127,639 ^{( 5 )} ^{( 8 )}	^{( 13 )}	0	D ^{( 2 )} ^{( 3 )}
Stock option (right to buy)	$ 23.6382 ^{( 5 )} ^{( 6 )}	04/06/2017		M^{( 1 )}^{( 9 )}			305,224 ^{( 5 )} ^{( 9 )}	^{( 9 )}	01/27/2021	Common Stock	305,224 ^{( 5 )} ^{( 9 )}	^{( 13 )}	0	D ^{( 2 )} ^{( 3 )}
Stock option (right to buy)	$ 26.4271 ^{( 5 )} ^{( 6 )}	04/06/2017		M^{( 1 )}^{( 10 )}			87,631 ^{( 5 )} ^{( 10 )}	^{( 10 )}	03/31/2021	Common Stock	87,631 ^{( 5 )} ^{( 10 )}	^{( 13 )}	0	D ^{( 2 )} ^{( 3 )}
Stock option (right to buy)	$ 35.7103 ^{( 5 )} ^{( 6 )}	04/06/2017		M^{( 1 )}^{( 11 )}			202,039 ^{( 5 )} ^{( 11 )}	^{( 11 )}	01/26/2022	Common Stock	202,039 ^{( 5 )} ^{( 11 )}	^{( 13 )}	0	D ^{( 2 )} ^{( 3 )}
Stock option (right to buy)	$ 41.5439 ^{( 5 )} ^{( 6 )}	04/06/2017		M^{( 1 )}^{( 12 )}			55,572 ^{( 5 )} ^{( 12 )}	^{( 12 )}	03/30/2022	Common Stock	55,572 ^{( 5 )} ^{( 12 )}	^{( 13 )}	0	D ^{( 2 )} ^{( 3 )}

**Reporting Owners**
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Wexner Leslie H. C/O L BRANDS, INC. THREE LIMITED PARKWAY COLUMBUS, OH43216	X	X	Chairman and CEO
WEXNER ABIGAIL S C/O L BRANDS, INC. THREE LIMITED PARKWAY COLUMBUS, OH43216	X

**Signatures**
/s/ Leslie H. Wexner		04/10/2017
Signature of Reporting Person		Date
/s/ Abigail S. Wexner		04/10/2017
Signature of Reporting Person		Date

Explanation of Responses:

( 1 )Stock option exercised by Leslie H. Wexner ("Mr. Wexner").
( 2 )Owned by Mr. Wexner directly. Owned by Abigail S. Wexner ("Mrs. Wexner") indirectly, through Mr. Wexner.
( 3 )Mr. Wexner and Mrs. Wexner disclaim beneficial ownership of all indirectly owned securities reported on this Form in excess of their respective pecuniary interests therein.
( 4 )See Exhibit 99.1 for a table of all non-derivative shares of the Issuer beneficially owned directly or indirectly by Mr. Wexner and Mrs. Wexner.
( 5 )Reflects adjustments from antidilution etc. pursuant to the Issuer's stock plan.
( 6 )The Issuer originally granted 168,772 stock options to Mr. Wexner with an exercise price of $17.10 per share pursuant to the Issuer's stock plan. The options vested in original installments as follows: 3/31/09 - 42,193 shares; 3/31/10 - 42,193 shares; 3/31/11 - 42,193 shares; and 3/31/12 - 42,193 shares.
( 7 )The Issuer originally granted 271,620 stock options to Mr. Wexner with an exercise price of $8.70 per share pursuant to the Issuer's stock plan. The options vested in original installments as follows: 3/31/10 - 90,540 shares; 3/31/11 - 90,540 shares; and 3/31/12 - 90,540 shares.
( 8 )The Issuer originally granted 93,777 stock options to Mr. Wexner with an exercise price of $24.62 per share pursuant to the Issuer's stock plan. The options vested in original installments as follows: 3/31/11 - 31,259 shares; 3/31/12 - 31,259 shares; and 3/31/13 - 31,259 shares.
( 9 )The Issuer originally granted 245,325 stock options to Mr. Wexner with an exercise price of $29.41 per share pursuant to the Issuer's stock plan. The options vested in original installments as follows: 1/27/13 - 49,065 shares; 1/27/14 - 49,065 shares; 1/27/15 - 73,598 shares; and 1/27/16 - 73,597 shares.
( 10 )The Issuer originally granted 72,178 stock options to Mr. Wexner with an exercise price of $31.9875 per share pursuant to the Issuer's stock plan. The options vested in original installments as follows: 3/31/12 - 24,059 shares; 3/31/13 - 24,059 shares; and 3/31/14 - 24,060 shares.
( 11 )The Issuer originally granted 174,867 stock options to Mr. Wexner with an exercise price of $41.26 per share pursuant to the Issuer's stock plan. The options vested in original installments as follows: 1/26/14 - 34,974 shares; 1/26/15 - 34,973 shares; 1/26/16 - 52,460; and 1/26/17 - 52,460 shares.
( 12 )The Issuer originally granted 48,100 stock options to Mr. Wexner with an exercise price of $48 per share pursuant to the Issuer's stock plan. The options vested in original installments as follows: 3/30/14 - 9,620 shares; 3/30/15 - 9,620 shares; 3/30/16 - 14,430; and 3/30/17 - 14,430 shares.
( 13 )Not applicable.

Remarks:
Exhibit 99.1: Additional Responses and Joint Filer Information, incorporated herein by reference.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Sec Form 4 Filing - Wexner Leslie H. @ L Brands, Inc. - 2017-04-06