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)
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
September 10, 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
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
James Jannard
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
___
(a)/ /
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(b)/ /
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(3) SEC USE ONLY
(4) SOURCE OF FUNDS*
PF
(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
: (7) SOLE VOTING POWER
:
: 36,560,000
:
NUMBER OF SHARES BENEFICIALLY : (8) SHARED VOTING POWER
OWNED BY EACH REPORTING : -0-
PERSON WITH :
: (9) SOLE DISPOSITIVE POWER
: 36,560,000
:
:(10) SHARED DISPOSITIVE
: POWER
: -0-
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
36,560,000
(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)
51.7%
(14) TYPE OF REPORTING PERSON*
IN
ITEM 1. SECURITY AND ISSUER
This Statement on Schedule 13D (the "Schedule 13D")
relates to shares of the common stock, $.01 par value per share
("Shares"), of Oakley, Inc., a Washington corporation (the
"Company"). The principal executive offices of the Company are
located at One Icon, Foothill Ranch, California 92610.
ITEM 2. IDENTITY AND BACKGROUND
(a) This statement is being filed by James Jannard
(the "Reporting Person").
(b) The Reporting Person's business address is Oakley,
Inc., One Icon, Foothill Ranch, California 92610.
(c) The Reporting Person's present principal
occupation is that of President and Chairman of the Board of
Directors of the Company. The Company's principal business is
the manufacture and sale of high-performance sunglasses. The
Company's address is One Icon, Foothill Ranch, California 92610.
(d) The Reporting Person has not, during the last five
years, been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors).
(e) The Reporting Person has not, during the last
five years, been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction or subject to a
judgment, decree or final order enjoining future violations of,
or prohibiting or maintaining activities subject to, Federal or
State securities laws or finding any violation with respect to
such laws.
(f) The Reporting Person is a citizen of the United
States.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The Reporting Person is the founder of the Company and
has reported his ownership interest in the Company on Schedule
13G since the Company's initial public offering in August 1995.
The Reporting Person is filing this Schedule 13D because his
purchase on September 10, 1997, together with all other purchases
of Shares during the immediately preceding 12 months, exceeded
two percent of the outstanding Shares of the Company as disclosed
in its June 30, 1997 Form 10-Q. This Schedule 13D relates to the
purchases during the last 12 calendar months.
The aggregate amount of funds required by the Reporting
Person to purchase the 2,000,000 Shares acquired directly by him
during the last 12 months was $19,944,418.75. The funds used to
purchase such Shares were obtained from the Reporting Person's
personal funds.
ITEM 4. PURPOSE OF TRANSACTION
The Reporting Person acquired the Shares for purposes
of investment. On September 15, 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
(a) The Reporting Person is the beneficial owner of
the 36,560,000 Shares, or approximately 51.7% of the Shares
outstanding.
(b) The Reporting Person has sole voting and
dispositive power with respect to the 36,560,000 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
9/10/97 1,500 $11.375
9/10/97 48,500 11.4375
9/10/97 50,000 11.50
9/10/97 1,000 11.375
9/10/97 59,500 11.4375
9/10/97 39,500 11.5625
9/10/97 100,000 11.5625
9/10/97 4,000 11.625
9/10/97 7,000 11.75
9/11/97 210,000 11.50
9/11/97 309,000 11.4375
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER
The Reporting Person does not have any contract,
arrangement, understanding, or relationship (legal or otherwise)
with any person with respect to any securities of the Company.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Not applicable.
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: September 18, 1997
/s/ JAMES JANNARD
____________________
James Jannard
