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. 3)
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
May 22, 1998
(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: ___
/ /
CUSIP No. 673662 10 2 13D
_______________________________________________________________________
(1) NAMES 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)/ /
___
(b)/ /
_______________________________________________________________________
(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) ___
/ /
_______________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_______________________________________________________________________
: (7) SOLE VOTING POWER
:
: 38,567,800
:___________________________________
NUMBER OF SHARES BENEFICIALLY : (8) SHARED VOTING POWER
OWNED BY EACH REPORTING : -0-
PERSON WITH :___________________________________
: (9) SOLE DISPOSITIVE POWER
: 38,567,800
:___________________________________
:(10) SHARED DISPOSITIVE POWER
: -0-
_______________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
38,567,800
_______________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* ___
/ /
_______________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
54.6%
_______________________________________________________________________
(14) TYPE OF REPORTING PERSON*
IN
This Amendment No. 3 amends the Statement on Schedule 13D, dated
September 10, 1997, as amended by Amendment No. 1, dated December 11, 1997,
and by Amendment No. 2, dated December 11, 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 907,800 Shares acquired directly by him since the filing of
the Schedule 13D was $11,448,720.90. The funds used to purchase such Shares
were obtained from the Reporting Person's personal funds.
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
38,567,800 Shares, or approximately 54.6% of the Shares outstanding.
(b) The Reporting Person has sole voting and dispositive power
with respect to the 38,567,800 Shares beneficially owned by him.
(c) The Reporting Person effected the following open market
purchases of Shares during the past 60 days:
Amount of
Date of Securities Price
Transaction Involved per Share
5/14/98 200 12.8750
5/14/98 39,800 12.9375
5/14/98 2,500 13.0625
5/14/98 77,500 13.1250
5/14/98 20,000 13.0000
5/15/98 54,500 13.2500
5/15/98 15,000 13.1250
5/15/98 18,500 13.1875
5/15/98 10,000 13.0625
5/15/98 2,000 13.0000
5/18/98 19,400 12.9375
5/18/98 3,800 12.8750
5/18/98 10,000 12.8125
5/19/98 1,000 12.9375
5/20/98 7,800 12.9210
5/20/98 2,000 12.8750
5/20/98 5,800 12.9375
5/21/98 6,500 12.8750
5/21/98 12,000 12.9375
5/21/98 31,000 13.0000
5/22/98 15,000 13.0000
5/22/98 10,000 13.0625
5/22/98 12,000 13.1250
5/22/98 20,500 13.2500
5/22/98 3,500 13.1875
5/22/98 11,000 13.3125
5/22/98 10,000 13.3750
5/26/98 41,500 13.2500
5/26/98 500 13.1875
5/27/98 5,000 12.6250
5/27/98 7,000 12.6875
5/27/98 5,000 12.7500
5/27/98 15,000 12.8125
5/27/98 2,500 12.8750
5/27/98 7,500 13.0000
5/27/98 10,500 13.1250
5/27/98 25,000 13.1875
5/27/98 12,500 13.2500
5/28/98 400 12.6250
5/28/98 10,100 12.7500
5/28/98 2,000 12.9375
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: May 29, 1998
/s/ James Jannard
-----------------
James Jannard
