SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO 13d-
1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
(Amendment No. 1)
OAKLEY, INC.
(Name of Issuer)
Common Stock, $.01 par value per share
(Title of Class of Securities)
673662 10 2
(CUSIP Number)
Donna Gordon
Oakley, Inc.
One Icon
Foothill Ranch, California 92610
(714) 951-0991
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
with a copy to:
Jeffrey H. Cohen, Esq.
Skadden, Arps, Slate, Meagher & Flom LLP
300 South Grand Avenue, Suite 3400
Los Angeles, California 90071-3144
(213) 687-5000
December 11, 1997
(Date of Event which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d- 1(b)(3) or (4), check the
following box: ___
/ /
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CUSIP No. 673662 10 2 13D
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(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
James Jannard
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
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(a)/ /
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(b)/ /
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS*
PF
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(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ___
/ /
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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: (7) SOLE VOTING POWER
:
: 37,468,000
:--------------------------------------
:
NUMBER OF SHARES BENEFICIALLY : (8) SHARED VOTING POWER
OWNED BY EACH REPORTING : -0-
PERSON WITH :--------------------------------------
:
: (9) SOLE DISPOSITIVE POWER
: 37,468,000
:--------------------------------------
:
:(10) SHARED DISPOSITIVE
: POWER
: -0-
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
37,468,000
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(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* ___
/ /
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(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
53.0%
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(14) TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
This Amendment No. 1 (the "Amendment No. 1") amends and
supplements the Statement on Schedule 13D dated September 10, 1997 (the
"Schedule 13D") relating to shares of the common stock, $.01 par value
per share ("Shares"), of Oakley, Inc., a Washington corporation (the
"Company").
Unless otherwise indicated, each capitalized term used but
not otherwise defined herein shall have the meaning assigned to such term
in the Schedule 13D.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Item 3 is hereby amended and supplemented as follows:
The aggregate amount of funds required by the Reporting
Person to purchase the 908,000 Shares acquired directly by him since the
filing of the Schedule 13D was $8,919,787.50. The funds used to purchase
such Shares were obtained from the Reporting Person's personal funds.
ITEM 4. PURPOSE OF TRANSACTION
Item 4 is hereby amended and supplemented by adding the
following:
On December 18, 1997, the Reporting Person announced that
he intends to purchase up to an additional 1,000,000 Shares from time to
time in the open market, subject to market conditions.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 is hereby amended and supplemented by adding the
following:
(a) The Reporting Person is the beneficial owner of the
37,468,000 Shares, or approximately 53.0% of the Shares outstanding.
(b) The Reporting Person has sole voting and dispositive
power with respect to the 37,468,000 Shares beneficially owned by him.
(c) The Reporting Person effected the following open
market purchases of Shares during the past 60 days:
Date of Amount of Price
Transaction Securities Involved per Share
----------- ------------------- ---------
10/27/97 33,000 $ 9.3750
10/27/97 4,000 9.4375
10/27/97 13,000 9.5000
10/27/97 20,000 9.3125
10/27/97 15,000 9.2500
10/27/97 14,000 9.0000
10/28/97 10,000 8.7500
10/29/97 12,800 9.2500
10/29/97 12,200 9.3125
11/10/97 6,000 9.1250
11/10/97 44,000 9.1875
11/11/97 20,000 9.1250
11/11/97 2,900 9.0625
11/12/97 2,700 9.0000
11/12/97 18,400 9.0625
11/12/97 6,000 9.1250
11/24/97 18,000 9.0000
11/24/97 4,000 9.0625
11/24/97 28,000 9.1250
12/05/97 11,300 10.0000
12/05/97 7,200 9.8750
12/09/97 15,000 10.0625
12/09/97 13,500 10.0000
12/10/97 68,500 10.0000
12/10/97 18,500 9.9375
12/11/97 4,000 9.9375
12/11/97 1,000 9.8750
12/11/97 35,000 9.7500
12/11/97 245,000 9.6250
12/11/97 5,000 9.6875
SIGNATURE
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this statement is
true, complete and correct.
Dated: December 22, 1997
/s/ JAMES JANNARD
_____________________________
James Jannard
