SEC FORM 3

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

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1. Name and Address of Reporting Person^*

McHale Thomas

(Last)

(First)

(Middle)

AMERICAN CAPITAL, LTD.

2 BETHESDA METRO CENTER, 12TH FLOOR

(Street)

BETHESDA

20814

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/01/2016

3. Issuer Name and Ticker or Trading Symbol
AMERICAN CAPITAL, LTD [ ACAS ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP and Senior Managing Dir.

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	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	181,438	D
Common Stock	7,221.404	I	By 401(k)

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)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	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)
Options	04/29/2011⁽¹⁾	04/29/2020	Stock	30,092	$6.45	D
Options	10/21/2011⁽²⁾	10/21/2020	Stock	112,500	$6.51	D
Options	07/22/2011⁽³⁾	07/22/2020	Stock	112,500	$5.19	D
Options	02/01/2012⁽⁴⁾	02/01/2021	Stock	190,000	$8.47	D
Options	04/28/2012⁽⁵⁾	04/28/2021	Stock	190,000	$10.19	D
Options	07/24/2009⁽¹⁾	07/24/2018	Stock	8,186	$16.71	D
Options	01/07/2010⁽¹⁾	01/07/2019	Stock	59,032	$4.81	D
Options	07/24/2010⁽¹⁾	07/24/2019	Stock	32,742	$16.71	D
Options	07/21/2012⁽⁶⁾	07/21/2021	Stock	107,302	$10.08	D
Options	10/25/2013⁽⁷⁾	10/25/2022	Stock	48,184.865	$11.79	D
Options	01/29/2014⁽⁸⁾	01/29/2023	Stock	39,304	$13.1	D
Options	08/13/2010⁽¹⁾	08/13/2019	Stock	3,744	$2.96	D
Options	11/12/2010⁽¹⁾	11/12/2019	Stock	10,203	$2.77	D
Options	02/11/2011⁽¹⁾	02/11/2020	Stock	10,090	$3.48	D
Options	10/20/2012⁽⁹⁾	10/20/2021	Stock	107,302	$6.77	D
Options	01/31/2013⁽¹⁰⁾	01/31/2022	Stock	107,302	$8.22	D
Options	04/27/2013⁽¹¹⁾	04/27/2022	Stock	94,823	$9.64	D

Explanation of Responses:

1. All such options have vested.

2. The option vests in five equal installments beginning on October 21, 2011.

3. The option vests in five equal installments beginning on July 22, 2011.

4. The option vests in five equal installments beginning on February 1, 2012.

5. The option vests in five equal installments beginning on April 28, 2012.

6. The option vests in five equal installments beginning on July 21, 2012.

7. The option vests in five equal installments beginning on October 25, 2013.

8. The option vests in five equal installments beginning on January 29, 2014.

9. The option vests in five equal installments beginning on October 20, 2012.

10. The option vests in five equal installments beginning on January 31, 2013.

11. The option vests in five equal installments beginning on April 27, 2013.

Remarks:

	Thomas McHale	01/11/2016
	** 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.
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