Ownership Submission
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, 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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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Olsen Stephen W.
 2. Date of Event Requiring Statement (Month/Day/Year)
12/21/2011		 3. Issuer Name and Ticker or Trading Symbol
ORCHARD SUPPLY HARDWARE STORES CORP [OSH]
(Last)
(First)
(Middle)
C/O ORCHARD SUPPLY HARDWARE, 6450 VIA DEL ORO		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Sr. VP and CSO
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

SAN JOSE, CA 95119		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
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)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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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 of Derivative Security: 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
Stock Options (right to buy)   (1) 01/13/2021 Class B Common Stock 16,038 $ 16.67 D  
Stock Options (right to buy)   (2) 01/13/2021 Class B Common Stock 16,032 $ 33.33 D  
Stock Options (right to buy)   (3) 01/13/2021 Class B Common Stock 16,032 $ 50 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Olsen Stephen W.
C/O ORCHARD SUPPLY HARDWARE
6450 VIA DEL ORO
SAN JOSE, CA 95119		       Sr. VP and CSO  

Signatures

/s/ Michael W. Fox, by power of attorney 12/21/2011
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) The options became exercisable as to 4,009 shares on January 13, 2012 and will become exercisable as to 4,010 shares on January 13, 2013, as to 4,009 shares on January 13, 2014 and as to 4,010 shares on January 13, 2015.
(2) The options became exercisable as to 4,008 shares on January 13, 2012 and will become exercisable as to 4,008 shares on January 13, 2013, as to 4,008 shares on January 13, 2014 and as to 4,008 shares on January 13, 2015.
(3) The options became exercisable as to 4,008 shares on January 13, 2012 and will become exercisable as to 4,008 shares on January 13, 2013, as to 4,008 shares on January 13, 2014 and as to 4,008 shares on January 13, 2015.
 
Remarks:
Exhibit 24 - Power of Attorney.

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