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Filing Details

Accession Number:: 0001181431-12-044693
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-08-09 16:18:53
Reporting Period:: 2012-08-07

Filing Date:: 2012-08-09
Accepted Time:: 2012-08-09 16:18:53
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1423542	Skullcandy Inc.	SKUL	Household Audio & Video Equipment (3651)	562362196

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1522008	Greg Warnock	C/O Skullcandy, Inc. 1441 West Ute Boulevard, Suite 250 Park City UT 84098		Yes	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2012-08-07	7,877	$15.55	149,169	No	4	S	Direct
Common Stock	Disposition	2012-08-07	8,863	$0.00	221,859	No	4	J	Indirect	by Mercato Partners, LLC
Common Stock	Disposition	2012-08-07	221,859	$15.59	0	No	4	S	Indirect	By Mercato Partners, LLC

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct
No	4	J	Indirect	by Mercato Partners, LLC
No	4	S	Indirect	By Mercato Partners, LLC

Footnotes

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $15.20 to $15.69, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4.
Reflects the amount of securities directly owned by the Reporting Person following the reported transaction and pro rata distribution (as noted in footnote 3) of 878,534 shares of the Issuer's common stock from Mercato Partners QP, L.P. ("Mercato QP") and Mercato Partners L.P. ("Mercato LP" and together with Mercato QP, the "Mercato Entities") to the Reporting Person in his capacity as a limited partner of the Mercato Entities.
The Reporting Person is a managing director of the General Partner of the Mercato Entities and has voting and dispositive power over the shares of Issuer common stock held by the Mercato Entities. Mercato Partners, LLC (the "General Partner") is the general partner of the Mercato Entities and is owned 50% each by the Reporting Person and one other person. On August 7, 2012, the General Partner directed the distribution of the 1,109,256 shares of Issuer common stock held by the Mercato Entities, 878,534 of which were distributed to the limited partners of the Mercato Entities and 230,722 of which were distributed to the General Partner (as a return on capital and carried interest). Of these 230,772 shares, 221,859 shares were sold by the General Partner with 50% of the proceeds distributed to the Reporting Person, and the remaining 8,863 shares were distributed by the General Partner to certain individuals other than the Reporting Person as compensation for their past services.
The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $15.20 to $15.91, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4.