SEC Form 4 · accession 0001209191-15-033537
SKECHERS USA INC · SKX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey Greenberg
Director
Period of report
Apr 9, 2015
Accepted (ET)
Apr 10, 2015 · 3:20 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001065837
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common StockF1,F2 | Apr 9, 2015 | J | 88,848 | $0.00 | D | 80,614 | I | Jeffrey and Lori Greenberg Family Trust |
| Class A Common Stock | holding | — | — | — | 36,364 | I | Chloe July Greenberg 2009 Trust | |
| Class A Common Stock | holding | — | — | — | 36,364 | I | Catherine Elle Greenberg 2009 Trust | |
| Class A Common Stock | holding | — | — | — | 14,198 | I | Chloe July Greenberg 2004 Trust | |
| Class A Common Stock | holding | — | — | — | 14,198 | I | Catherine Elle Greenberg 2006 Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Forward Sale Contract (Obligation to Sell)F1,F2 | — | Apr 9, 2015 | J | 121,100 | D | Apr 6, 2015 | Apr 6, 2015 | Class A Common Stock | 121,100 | 0 | I |
Explanation of responses
- F1On September 30, 2014, the reporting person entered into a forward sale contract with an unaffiliated third party buyer. This contract obligated the reporting person to deliver to the buyer up to 121,100 shares of SKX Class A common stock (or, at the reporting person's election, an equivalent amount of cash based on the market price of SKX Class A common stock at that time) on the third business day following the maturity date of the contract, which was April 6, 2015. In exchange for assuming this obligation, the reporting person received a cash payment of $5,076,339. The reporting person pledged 121,100 shares of SKX Class A common stock (the "Pledged Shares") to secure his obligations under the contract, and retained voting and dividend rights in the Pledged Shares during the term of the pledge. (continued in footnote 2)
- F2When the forward sales contract was settled on April 9, 2015, based on the closing price of $73.22 per share of SKX Class A common stock on the maturity date, the reporting person delivered 88,848 shares of SKX Class A common stock and a wire transfer of $41.44 in full satisfaction of his obligations under the contract.