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<SEC-DOCUMENT>0001181431-08-069344.txt : 20081229
<SEC-HEADER>0001181431-08-069344.hdr.sgml : 20081225
<ACCEPTANCE-DATETIME>20081229085412
ACCESSION NUMBER:		0001181431-08-069344
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20081224
FILED AS OF DATE:		20081229
DATE AS OF CHANGE:		20081229

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			K SWISS INC
		CENTRAL INDEX KEY:			0000862480
		STANDARD INDUSTRIAL CLASSIFICATION:	FOOTWEAR, (NO RUBBER) [3140]
		IRS NUMBER:				954265988
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		31248 OAK CREST DRIVE
		CITY:			WESTLAKE VILLAGE
		STATE:			CA
		ZIP:			91361
		BUSINESS PHONE:		8187065100

	MAIL ADDRESS:	
		STREET 1:		31248 OAK CREST DR
		CITY:			WESTLAKE VILLAGE
		STATE:			CA
		ZIP:			91361

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SULLIVAN BRIAN
		CENTRAL INDEX KEY:			0001244551

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-18490
		FILM NUMBER:		081271073

	BUSINESS ADDRESS:	
		STREET 1:		31248 OAK CREST DR
		CITY:			WESTLAKE VILLAGE
		STATE:			CA
		ZIP:			91361
		BUSINESS PHONE:		8187065100

	MAIL ADDRESS:	
		STREET 1:		31248 OAK CREST DR
		CITY:			WESTLAK VILLAGE
		STATE:			CA
		ZIP:			91361
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd227806.xml
<DESCRIPTION>12/24/08 SULLIVAN REPRICE
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-12-24</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000862480</issuerCik>
        <issuerName>K SWISS INC</issuerName>
        <issuerTradingSymbol>KSWS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001244551</rptOwnerCik>
            <rptOwnerName>SULLIVAN BRIAN</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O K-SWISS INC.</rptOwnerStreet1>
            <rptOwnerStreet2>31248 OAK CREST DR</rptOwnerStreet2>
            <rptOwnerCity>WESTLAKE VILLAGE</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>91361</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>VP National Accounts</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Options to Buy Class A Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.53</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-12-24</value>
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            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
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            <transactionAmounts>
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                    <value>10000</value>
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                <transactionPricePerShare>
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                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
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            </transactionAmounts>
            <exerciseDate>
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            <expirationDate>
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                <underlyingSecurityTitle>
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            <securityTitle>
                <value>Options to Buy Class A Common Stock</value>
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                <value>6.93</value>
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            <transactionAmounts>
                <transactionShares>
                    <value>4000</value>
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                <transactionPricePerShare>
                    <value>0</value>
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                <transactionAcquiredDisposedCode>
                    <value>D</value>
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            <exerciseDate>
                <footnoteId id="F1"/>
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            <expirationDate>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock, Par Value $.01</value>
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                <underlyingSecurityShares>
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        <derivativeTransaction>
            <securityTitle>
                <value>Options to Buy Class A Common Stock</value>
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            <conversionOrExercisePrice>
                <value>8.93</value>
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            <transactionDate>
                <value>2008-12-24</value>
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            <transactionCoding>
                <transactionFormType>4</transactionFormType>
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            <transactionAmounts>
                <transactionShares>
                    <value>4000</value>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
                    <value>D</value>
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            <exerciseDate>
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            <securityTitle>
                <value>Options to Buy Class A Common Stock</value>
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            <conversionOrExercisePrice>
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            <transactionDate>
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            <exerciseDate>
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            <expirationDate>
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                <sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
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        <derivativeTransaction>
            <securityTitle>
                <value>Options to Buy Class A Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>9.17</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-12-24</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2010-02-01</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2013-01-09</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock, Par Value $.01</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>4000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Options to Buy Class A Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>12.19</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-12-24</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
                <footnoteId id="F6"/>
            </exerciseDate>
            <expirationDate>
                <value>2018-03-04</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock, Par Value $.01</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Options to Buy Class A Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>12.19</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-12-24</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
                <footnoteId id="F7"/>
            </exerciseDate>
            <expirationDate>
                <value>2013-08-12</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock, Par Value $.01</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On 12/24/08 all outstanding stock options granted to the named individual were re-priced $2 lower than the original grant price.  All other terms of the original grant including vesting schedules and expirations dates remain in force and were not modified</footnote>
        <footnote id="F2">3,334 options vested on 2/21/03 and 3,333 options vested each on 2/21/04 and 2/21/05</footnote>
        <footnote id="F3">3,334 options vested on 2/21/04 and 3,333 options vested each on 2/21/05 and 2/21/06</footnote>
        <footnote id="F4">4,000 opitons vested each on 8/3/04, 8/3/05 and 8/3/06</footnote>
        <footnote id="F5">1,334 options vested on 3/28/04 and 1,333 options vested each on 3/28/05 and 3/28/06</footnote>
        <footnote id="F6">2,000 opitons will vest each on 3/4/12, 3/4/13 and 3/4/14</footnote>
        <footnote id="F7">2,000 opitons vested on 8/12/08 and 2,000 options will vest each on 8/12/09 and 8/12/10</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Tarek Rizkalla, by power of attorney for Brian Sullivan</signatureName>
        <signatureDate>2008-12-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----