SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0104
Estimated average burden
hours per response: 0.5
1. Name and Address of Reporting Person*
Macellum Advisors GP, LLC

(Last) (First) (Middle)
99 HUDSON STREET
5TH FLOOR

(Street)
NEW YORK NY 10013

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
03/04/2020
3. Issuer Name and Ticker or Trading Symbol
BIG LOTS INC [ BIG ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
Officer (give title below) X Other (specify below)
See Explanation of Responses
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock $0.01 par value(1) 853,112 I See Footnote(2)
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Call Options (right to buy) 03/02/2020 04/17/2020 Common Stock $0.01 par value 250,000 17.5 I See Footnote(2)
Put Options (obligation to buy) (3) 03/20/2020 Common Stock $0.01 par value 26,100 27.5 I See Footnote(2)
Put Options (obligation to buy) 02/14/2020 03/20/2020 Common Stock $0.01 par value 5,200 25 I See Footnote(2)
1. Name and Address of Reporting Person*
Macellum Advisors GP, LLC

(Last) (First) (Middle)
99 HUDSON STREET
5TH FLOOR

(Street)
NEW YORK NY 10013

(City) (State) (Zip)
1. Name and Address of Reporting Person*
DUSKIN JONATHAN

(Last) (First) (Middle)
MACELLUM CAPITAL MANAGEMENT, LLC
99 HUDSON STREET, 5TH FLOOR

(Street)
NEW YORK NY 10013

(City) (State) (Zip)
Explanation of Responses:
1. This Form 3 is filed jointly by Macellum Opportunity Fund LP ("Macellum Opportunity"), Macellum Management, LP ("Macellum Management"), Macellum Advisors GP, LLC ("Macellum GP") and Jonathan Duskin (collectively, the "Reporting Persons"). Each of the Reporting Persons is a member of a Section 13(d) group that collectively owns more than 10% of the Issuer's outstanding shares of Common Stock, par value $0.01 (the "Common Stock"). Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
2. Securities owned directly by Macellum Opportunity. As the investment manager of Macellum Opportunity, Macellum Management may be deemed to beneficially own the securities owned directly by Macellum Opportunity. As the general partner of Macellum Opportunity, Macellum GP may be deemed to beneficially own securities owned directly by Macellum Opportunity. As the sole member of Macellum GP, Mr. Duskin may be deemed to beneficially own the securities owned directly by Macellum Opportunity.
3. Such options are exercisable as of March 4, 2020 and were immediately exercisable upon their acquisition.
Remarks:
At the current time, Macellum Opportunity and Macellum Management do not have the necessary SEC filing codes. Accordingly, Macellum GP and Jonathan Duskin are the reporting parties. The remaining Reporting Persons are currently obtaining the necessary filing codes and upon receipt will file an amended Form 3.
Macellum Advisors GP, LLC; By: /s/ Jonathan Duskin 03/13/2020
/s/ Jonathan Duskin 03/13/2020
** Signature of Reporting Person Date
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 5 (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.