SEC Info - McDowell Robert - ‘4’ for 3/12/10 re: FGX International Holdings Ltd.

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

McDowell Robert

(Last)

(First)

(Middle)

500 GEORGE WASHINGTON HIGHWAY

(Street)

SMITHFIELD

02917

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
FGX International Holdings LTD [ FGXI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
3/12/10

4. If Amendment, Date of 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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Ordinary Shares	3/12/10		D		7,043 ⁽¹⁾	D	$19.75	0	D
Ordinary Shares	3/12/10		D		1,250 ⁽²⁾	D	$19.75	0	D

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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$12.95	3/12/10		D			1,000	⁽³⁾	12/17/17	Ordinary Shares	1,000	⁽³⁾	0	D
Stock Option (Right to Buy)	$10.54	3/12/10		D			9,000	⁽³⁾	1/30/18	Ordinary Shares	9,000	⁽³⁾	0	D
Stock Option (Right to Buy)	$10.96	3/12/10		D			1,000	⁽³⁾	5/29/18	Ordinary Shares	1,000	⁽³⁾	0	D
Stock Option (Right to Buy)	$12.56	3/12/10		D			1,250	⁽³⁾	5/20/19	Ordinary Shares	1,250	⁽³⁾	0	D

Explanation of Responses:

(1) Ordinary Shares owned by the Reporting Person that were exchanged for a cash payment of $19.75 per share in connection with the merger (the "Merger") of 1234 Acquisition Sub, Inc. with and into FGX International Holdings Limited.

(2) Resticted stock units that were exchanged for a cash payment of $19.75 per share (less any applicable tax withholding) in connection with the Merger.

(3) This option was cancelled in the Merger in exchange for a cash payment per underlying share equal to the difference between the exercise price and $19.75 (less any applicable tax wittholding).

Remarks:

	/s/ Jeffrey J. Giguere as attorney-in-fact	3/12/10
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

____________ Transaction Code:
D	Disposition to the Issuer of Issuer equity securities pursuant to Rule 16b-3(e).

McDowell Robert – ‘4’ for 3/12/10 re: FGX International Holdings Ltd.

On: Monday, 3/15/10, at 5:10pm ET · For: 3/12/10 · As: Director · Accession #: 908662-10-71 · File #: 1-33760

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Statement of Changes in Beneficial Ownership of Securities by an Insider — Form 4 — SEA’34
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