Chap run out? (5)

I believe the answer is:

peter

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'chap run out?' is the definition.
'peter' can be an answer for 'chap' (Peter is a man's name). I'm unsure of the 'run out?' bit.

'chap run' is the wordplay.
'chap' becomes 'pete' ().
'run' becomes 'r' (cricket abbreviation).
'pete'+'r'='PETER'

Can you help me to learn more?

(Other definitions for peter that I've seen before include "Fellow < safe" , "Disciple" , "Blue -, ship's flag" , "Safe; saint" , "Leading apostle" .)

I've seen this clue in the Evening Standard.

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