Edgar Filing: FOSSIL INC

Ownership Submission

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

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 ^*

KOVAR MIKE

2. Issuer Name and Ticker or Trading Symbol
FOSSIL INC [FOSL]

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

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Senior V.P and CFO

(Last)

(First)

(Middle)

2280 N. GREENVILLE AVE.

3. Date of Earliest Transaction (Month/Day/Year)
11/19/2007

(Street)

RICHARDSON, TX 75082

4. If Amendment, Date 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

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/19/2007		M		7,198	A	$ 7.9167	18,949 ⁽¹⁾	D
Common Stock	11/19/2007		M		3,600	A	$ 8.0833	22,549 ⁽¹⁾	D
Common Stock	11/19/2007		M		10,800	A	$ 12	33,349 ⁽¹⁾	D
Common Stock	11/19/2007		M		3,600	A	$ 12	36,949 ⁽¹⁾	D
Common Stock	11/19/2007		S		25,198	D	$ 41.3901	11,751 ⁽¹⁾	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction 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
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(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

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Options (Right to buy)

$ 7.5833

11/19/2007

J⁽²⁾

3,600

01/22/2002

01/22/2011

Common Stock

3,600

⁽³⁾

Stock Options (Right to buy)

$ 7.9167

11/19/2007

7,198

09/11/2007

01/22/2011

Common Stock

7,198

⁽³⁾

Stock Options (Right to buy)

$ 8.0833

11/19/2007

J⁽²⁾

3,600

11/19/2007

01/22/2011

Common Stock

3,600

⁽³⁾

3,600

Stock Options (Right to buy)

$ 8.0833

11/19/2007

3,600

11/19/2007

01/22/2011

Common Stock

3,600

⁽³⁾

Stock Options (Right to buy)

$ 9.2223

11/19/2007

J⁽²⁾

3,600

01/14/2003

01/14/2012

Common Stock

3,600

⁽³⁾

Stock Options (Right to buy)

$ 12

11/19/2007

J⁽²⁾

3,600

11/19/2007

01/14/2012

Common Stock

3,600

⁽³⁾

14,400

Stock Options (Right to buy)

$ 12

11/19/2007

10,800

09/11/2007

01/14/2012

Common Stock

10,800

⁽³⁾

3,600

Stock Options (Right to buy)

$ 12

11/19/2007

3,600

11/19/2007

01/14/2012

Common Stock

3,600

⁽³⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
KOVAR MIKE 2280 N. GREENVILLE AVE. RICHARDSON, TX 75082			Senior V.P and CFO

Signatures

MIKEKOVAR		11/21/2007
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(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)	Includes 3,886 shares of restricted stock, 6,200 restricted stock units, 762 shares held in a personal IRA account and 903 shares held indirectly through a 401(k) plan account as of June 30, 2007.
(2)	Options repriced in accordance with a 12/29/2006 letter agreement between Mike Kovar and the Company in order to avoid adverse tax consequenses under Section 409A of the Internal Revenue Code.
(3)	Not applicable.

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