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)
09/17/2007
(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)
Code V Amount (A) or (D) Price
Common Stock 09/17/2007   M   3,938 A $ 4.9723 21,629 (1) D  
Common Stock 09/17/2007   M   7,875 A $ 6.3889 29,504 (1) D  
Common Stock 09/17/2007   M   14,400 A $ 10.3889 43,904 (1) D  
Common Stock 09/17/2007   S   32,153 D $ 36.0428 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 V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Appreciation Right $ 18.41             02/19/2007 02/19/2014 Common Stock 4,000   4,000 D  
Stock Appreciation Right $ 31.24             06/01/2008 06/01/2015 Common Stock 8,000   8,000 D  
Stock Options (Right to buy) $ 7.5833             01/22/2002 01/22/2011 Common Stock 10,798   10,798 D  
Stock Options (Right to buy) $ 9.2223             01/14/2003 01/14/2012 Common Stock 14,400   14,400 D  
Stock Options (Right to buy) $ 11.6667             02/24/2004 02/24/2013 Common Stock 12,000   12,000 D  
Stock Options (Right to buy) $ 19.1333             02/23/2005 02/23/2014 Common Stock 14,999   14,999 D  
Stock Options (Right to buy) $ 25.77             03/08/2006 03/08/2015 Common Stock 10,000   10,000 D  
Stock Options (Right to buy) $ 4.9723 09/17/2007   M     7,875 10/25/2003 10/25/2010 Common Stock 7,875 (2) 3,938 D  
Stock Options (Right to buy) $ 4.9723 09/17/2007   M     3,938 10/25/2003 10/25/2010 Common Stock 3,938 (2) 0 D  
Stock Options (Right to buy) $ 10.3889 09/17/2007   M     14,400 03/20/2001 03/20/2010 Common Stock 14,400 (2) 0 D  

Reporting Owners

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

Signatures

 MIKE KOVAR   09/19/2007
**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) Not applicable.

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