SEC Info - Ackman William A, et al. - ‘3’ for 10/4/10 re: J C Penney Co. Inc.

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<issuerName> J C PENNEY CO INC </issuerName>

</issuer>

<rptOwnerName> Pershing Square Capital Management, L.P. </rptOwnerName>

</reportingOwnerId>

<rptOwnerStreet1> 888 SEVENTH AVENUE, 42ND FLOOR </rptOwnerStreet1>

</reportingOwnerAddress>

</reportingOwnerRelationship>

</reportingOwner>

<rptOwnerName> PS Management GP, LLC </rptOwnerName>

</reportingOwnerId>

<rptOwnerStreet1> 888 SEVENTH AVENUE, 42ND FLOOR </rptOwnerStreet1>

</reportingOwnerAddress>

</reportingOwnerRelationship>

</reportingOwner>

<rptOwnerName> Pershing Square GP, LLC </rptOwnerName>

</reportingOwnerId>

<rptOwnerStreet1> 888 SEVENTH AVENUE, 42ND FLOOR </rptOwnerStreet1>

</reportingOwnerAddress>

</reportingOwnerRelationship>

</reportingOwner>

<rptOwnerName> ACKMAN WILLIAM A </rptOwnerName>

</reportingOwnerId>

<rptOwnerStreet1> 888 SEVENTH AVENUE, 42ND FLOOR </rptOwnerStreet1>

</reportingOwnerAddress>

</reportingOwnerRelationship>

</reportingOwner>

<value> Common Stock </value>

</securityTitle>

</sharesOwnedFollowingTransaction>

</postTransactionAmounts>

</directOrIndirectOwnership>

<value> See Footnotes </value>

</natureOfOwnership>

</ownershipNature>

</nonDerivativeHolding>

</nonDerivativeTable>

<value> Total Return Swap </value>

</securityTitle>

</conversionOrExercisePrice>

</exerciseDate>

</expirationDate>

<value> Common Stock </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</directOrIndirectOwnership>

<value> See Footnotes </value>

</natureOfOwnership>

</ownershipNature>

</derivativeHolding>

<value> Option to Purchase Common Stock </value>

</securityTitle>

</conversionOrExercisePrice>

</exerciseDate>

</expirationDate>

<value> Common Stock </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</directOrIndirectOwnership>

<value> See Footnotes </value>

</natureOfOwnership>

</ownershipNature>

</derivativeHolding>

<value> Option to Purchase Common Stock </value>

</securityTitle>

</conversionOrExercisePrice>

</exerciseDate>

</expirationDate>

<value> Common Stock </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</directOrIndirectOwnership>

<value> See Footnotes </value>

</natureOfOwnership>

</ownershipNature>

</derivativeHolding>

<value> Option to Purchase Common Stock </value>

</securityTitle>

</conversionOrExercisePrice>

</exerciseDate>

</expirationDate>

<value> Common Stock </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</directOrIndirectOwnership>

<value> See Footnotes </value>

</natureOfOwnership>

</ownershipNature>

</derivativeHolding>

<value> Option to Purchase Common Stock </value>

</securityTitle>

</conversionOrExercisePrice>

</exerciseDate>

</expirationDate>

<value> Common Stock </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</directOrIndirectOwnership>

<value> See Footnotes </value>

</natureOfOwnership>

</ownershipNature>

</derivativeHolding>

<value> Option to Purchase Common Stock </value>

</securityTitle>

</conversionOrExercisePrice>

</exerciseDate>

</expirationDate>

<value> Common Stock </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</directOrIndirectOwnership>

<value> See Footnotes </value>

</natureOfOwnership>

</ownershipNature>

</derivativeHolding>

<value> Option to Purchase Common Stock </value>

</securityTitle>

</conversionOrExercisePrice>

</exerciseDate>

</expirationDate>

<value> Common Stock </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</directOrIndirectOwnership>

<value> See Footnotes </value>

</natureOfOwnership>

</ownershipNature>

</derivativeHolding>

<value> Option to Purchase Common Stock </value>

</securityTitle>

</conversionOrExercisePrice>

</exerciseDate>

</expirationDate>

<value> Common Stock </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</directOrIndirectOwnership>

<value> See Footnotes </value>

</natureOfOwnership>

</ownershipNature>

</derivativeHolding>

<value> Option to Purchase Common Stock </value>

</securityTitle>

</conversionOrExercisePrice>

</exerciseDate>

</expirationDate>

<value> Common Stock </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</directOrIndirectOwnership>

<value> See Footnotes </value>

</natureOfOwnership>

</ownershipNature>

</derivativeHolding>

<value> Option to Purchase Common Stock </value>

</securityTitle>

</conversionOrExercisePrice>

</exerciseDate>

</expirationDate>

<value> Common Stock </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</directOrIndirectOwnership>

<value> See Footnotes </value>

</natureOfOwnership>

</ownershipNature>

</derivativeHolding>

<value> Option to Purchase Common Stock </value>

</securityTitle>

</conversionOrExercisePrice>

</exerciseDate>

</expirationDate>

<value> Common Stock </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</directOrIndirectOwnership>

<value> See Footnotes </value>

</natureOfOwnership>

</ownershipNature>

</derivativeHolding>

<value> Option to Purchase Common Stock </value>

</securityTitle>

</conversionOrExercisePrice>

</exerciseDate>

</expirationDate>

<value> Common Stock </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</directOrIndirectOwnership>

<value> See Footnotes </value>

</natureOfOwnership>

</ownershipNature>

</derivativeHolding>

<value> Option to Purchase Common Stock </value>

</securityTitle>

</conversionOrExercisePrice>

</exerciseDate>

</expirationDate>

<value> Common Stock </value>

</underlyingSecurityTitle>

</underlyingSecurityShares>

</underlyingSecurity>

</directOrIndirectOwnership>

<value> See Footnotes </value>

</natureOfOwnership>

</ownershipNature>

</derivativeHolding>

</derivativeTable>

<footnote id="F1"> In addition to Pershing Square Capital Management, L.P., a Delaware limited partnership ("Pershing Square Capital"), this Form 3 is being filed jointly by PS Management GP, LLC, a Delaware limited liability company ("PS Management"), Pershing Square GP, LLC, a Delaware limited liability company ("Pershing Square GP"), and William A. Ackman, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom has the same business address as Pershing Square Capital and may be deemed to have a pecuniary interest in securities owned by it. </footnote>

<footnote id="F2"> Pershing Square advises the accounts of Pershing Square, L.P., a Delaware limited partnership ("PS"), Pershing Square II, L.P., a Delaware limited partnership ("PS II"), Pershing Square International, Ltd., a Cayman Islands exempted company (together with its wholly-owned subsidiary PSRH, Inc., a Cayman Islands exempted company, "Pershing Square International"), Pershing Square Holdco III, LLC, a Delaware limited liability company ("PS Holdco III"), Pershing Square Holdco IIIA, LLC, a Delaware limited liability company ("PS Holdco IIIA") and Pershing Square Holdco IIIB, LLC, a Delaware limited liability company ("PS Holdco IIIB", together with PS, PS II, Pershing Square International, PS Holdco III, and PS Holdco IIIA, the "Pershing Square Funds"). </footnote>

<footnote id="F3"> Pershing Square Capital, as the investment adviser to the Pershing Square Funds, may be deemed to be the beneficial owner of the securities set forth on Tables I and II hereof (the "Subject Securities") for purposes of Rule 16a-1(a) of the Securities Exchange Act of 1934. As the general partner of Pershing Square Capital, PS Management may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a). As the general partner of PS and PS II, Pershing Square GP may be deemed to be the beneficial owner of the shares of Subject Securities owned by PS and PS II for purposes of Rule 16a-1(a). By virtue of William A. Ackman's position as Chief Executive Officer of Pershing Square Capital and managing member of each of PS Management and Pershing Square GP, William A. Ackman may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a). </footnote>

<footnote id="F4"> Each of the Reporting Persons disclaims any beneficial ownership of any of the securities listed in this Form 3, except to the extent of any pecuniary interest therein. </footnote>

<footnote id="F5"> The total return swaps and options to purchase shares of common stock set forth on Table II do not give any of the Pershing Square Funds or the Reporting Persons direct or indirect voting, investment or dispositive control over any securities of the issuer and do not require the counterparties thereto to acquire, hold, vote or dispose of any securities of the issuer. </footnote>

<footnote id="F6"> Immediate. </footnote>

<footnote id="F7"> Under the terms of the cash-settled total return swaps (i) Pershing Square International will be obligated to pay to the counterparty any negative price performance of the 602,600 notional number of shares of Common Stock subject to the swap as of the expiration date of such swap, plus interest at the rates set forth in the applicable contracts, and (ii) the counterparty will be obligated to pay to Pershing Square International any positive price performance of the 602,600 notional number of shares of Common Stock subject to the swap as of the expiration date of the swap. Any dividends received by the counterparty on such notional shares of Common Stock during the term of the swap will be paid to Pershing Square International. All balances will be cash settled at the expiration date of the swap. </footnote>

</footnotes>

<signatureName> Pershing Square Capital Management, L.P., By: PS Management GP, LLC, its General Partner, By: /S/ William A. Ackman, Managing Member </signatureName>

</ownerSignature>

<signatureName> PS Management GP, LLC, By: /s/ William A. Ackman, Managing Member </signatureName>

</ownerSignature>

<signatureName> Pershing Square GP, LLC, By: /s/ William A. Ackman, Managing Member </signatureName>

</ownerSignature>

<signatureName> /s/ William A. Ackman </signatureName>

</ownerSignature>

</ownershipDocument>

Ackman William A, et al. – ‘3’ for 10/4/10 re: J C Penney Co. Inc.

On: Friday, 10/8/10, at 9:16am ET · For: 10/4/10 · As: 10% Owner · Accession #: 1209191-10-49797 · File #: 1-15274

Previous ‘3’: ‘3’ on 6/15/09 for 6/5/09 · Next: ‘3’ on 10/8/10 for 10/4/10 · Latest: ‘3’ on / for 9/29/23

Initial Statement of Beneficial Ownership of Securities by an Insider — Form 3 — SEA’34
Filing Table of Contents

This ‘3’ Document is an XML Data File that may be rendered in various formats:

Ackman William A, et al. – ‘3’ for 10/4/10 re: J C Penney Co. Inc.

On: Friday, 10/8/10, at 9:16am ET · For: 10/4/10 · As: 10% Owner · Accession #: 1209191-10-49797 · File #: 1-15274

Previous ‘3’: ‘3’ on 6/15/09 for 6/5/09 · Next: ‘3’ on 10/8/10 for 10/4/10 · Latest: ‘3’ on / for 9/29/23

Initial Statement of Beneficial Ownership of Securities by an Insider — Form 3 — SEA’34Filing Table of Contents

This ‘3’ Document is an XML Data File that may be rendered in various formats:

Initial Statement of Beneficial Ownership of Securities by an Insider — Form 3 — SEA’34
Filing Table of Contents