ADS Alliance Data Systems

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 OF SECURITIES                                                                                   
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940                       

1. Name and Address of Reporting Person * Chesnut John Jeffrey	2. Issuer Name and Ticker or Trading Symbol ALLIANCE DATA SYSTEMS CORP [ ADS ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                    _____ 10% Owner __X__ Officer (give title below)    _____ Other (specify below) SVP and Treasurer
(Last)          (First)          (Middle) 7500 DALLAS PARKWAY, SUITE 700	3. Date of Earliest Transaction (MM/DD/YYYY) 2/16/2021
(Street) PLANO, TX 75024 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	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 Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	2/16/2021		A(1)		9110	A	(1)	20039.678	D
Common Stock	2/16/2021		A(2)		5466	A	(2)	25505.678	D
Common Stock	2/16/2021		F(3)		210	D	$86.31	20513.678 (4)(5)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. 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		7. Title and Amount of Securities Underlying Derivative Security (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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:
(1)	The new grant is for 9,110 shares of common stock represented by time-based restricted stock units. The restrictions will lapse on 3,005 units on 2/16/22, on 3,007 units on 2/16/23 and on 3,098 units on 2/16/24, subject to continued employment by the Reporting Person on the vesting dates.
(2)	The new grant is for 5,466 shares of common stock represented by performance-based restricted stock units, which may be adjusted up or down at the time the performance restriction lapses. The restriction may lapse with respect to 100% of such shares on 2/16/24 contingent on meeting predetermined performance measures and subject to continued employment by the Reporting Person on the vesting dates.
(3)	Shares withheld by the Company to satisfy the Reporting Person's tax withholding obligation upon the vesting of restricted stock units.
(4)	The total number of securities beneficially owned includes: (a) 4,411.678 unrestricted shares; (b) 86 unvested units from an award of 251 time-based restricted stock units granted 12/17/18; (c) 244 unvested units from an award of 716 time-based restricted stock units granted 2/15/19; (d) 1,196 unvested time-based restricted stock units granted 2/18/20; (e) the new grant for 9,110 time-based restricted stock units; and (f) the new grant for 5,466 performance-based restricted stock units.
(5)	The grant for 4,782 performance-based restricted stock units awarded on 2/18/20 was forfeited due to failure to meet the EBT performance metric for 2020.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Chesnut John Jeffrey 7500 DALLAS PARKWAY, SUITE 700 PLANO, TX 75024			SVP and Treasurer

Signatures
Cynthia L. Hageman, Attorney in Fact		2/18/2021
**Signature of Reporting Person		Date