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)
09/11/2007
(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               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) $ 25.77             03/08/2006 03/08/2015 Common Stock 10,000   10,000 D  
Stock Options (Right to buy) $ 7.5833 09/11/2007   J(2)     7,198 01/22/2002 01/22/2011 Common Stock 7,198 (3) 3,600 D  
Stock Options (Right to buy) $ 7.9167 09/11/2007   J(2)   7,198   09/11/2007 01/22/2011 Common Stock 7,198 (3) 7,198 D  
Stock Options (Right to buy) $ 9.2223 09/11/2007   J(2)     10,800 01/14/2003 01/14/2012 Common Stock 10,800 (3) 3,600 D  
Stock Options (Right to buy) $ 11.6667 09/11/2007   J(2)     9,601 02/24/2004 02/24/2013 Common Stock 9,601 (3) 2,399 D  
Stock Options (Right to buy) $ 11.7133 09/11/2007   J(2)   9,601   09/11/2007 02/24/2013 Common Stock 9,601 (3) 9,601 D  
Stock Options (Right to buy) $ 12 09/11/2007   J(2)   10,800   09/11/2007 01/14/2012 Common Stock 10,800 (3) 10,800 D  
Stock Options (Right to buy) $ 19.1333 09/11/2007   J(2)     14,999 02/23/2005 02/23/2014 Common Stock 14,999 (3) 0 D  
Stock Options (Right to buy) $ 22.1733 09/11/2007   J(2)   14,999   09/11/2007 02/23/2014 Common Stock 14,999 (3) 14,999 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

 Randy S. Hyne, Attorney-in-Fact   10/09/2007
**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) Options repriced in accordance with a 12/29/2006 letter agreement between Mike Kovar and the Company in order to avoid adverse tax consequenses under Section 409A of the Internal Revenue Code.
(3) Not applicable.

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