Fossil director Kartsotis sells 674,482 shares, keeps 10.7% interest

By Lisa Kerner

Charlotte, N.C., May 5 - Tom Kartsotis, a director of Fossil Inc., sold 674,482 shares of the company's stock in the open market between April 14 and April 24.

The shares were priced from $17.41 to $19.72 each, according to a schedule 13D/A filed with the Securities and Exchange Commission on Tuesday.

On March 19, Kartsotis sold 200,000 shares for $15.87 each, a prior SEC filing said.

As previously reported, Kartsotis as a party to a Feb. 26 commercial pledge agreement with JPMorgan Chase Bank, NA, pledged 2,666,667 shares of Fossil's common stock to secure, among other things, a revolving line of credit being extended by the bank.

Kartsotis beneficially owns 7,099,769 shares, or 10.7%, of the Richardson, Texas, watches and fashion accessories company.

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