Sec Form 13D Filing - TREMBLANT CAPITAL GROUP filing for SKECHERS USA INC (SKX) - 2021-12-23

Tremblant Capital Group

767 Fifth Avenue, Floor 12A

New York, New York 10153

Telephone: (212) 303-7373

(Name, Address and Telephone Number of Person Authorized to Receive

Notices and Communications)

This Schedule 13D is being filed by Tremblant Capital Group, a Delaware limited partnership (the “Reporting Person”).

The principal business address of the Reporting Person is 767 Fifth Avenue, Floor 12A, New York, New York 10153.

Tremblant Capital Group is an investment management firm that serves as the investment manager to certain advisory clients.

The Reporting Person has not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

The funds for the purchase of the Common Stock beneficially owned by the Reporting Person came from the working capital of certain advisory clients managed by the Reporting Person and the capital of certain affiliates.

No borrowed funds were used to purchase the Common Stock, other than any borrowed funds used for working capital purposes (including certain leverage arrangements) in the ordinary course of business.

(a)-(e)

As of the date hereof, Tremblant Capital Group may be deemed to be the beneficial owner of 3,783,605 shares of Common Stock or 2.8% of the shares of the Common Stock of the Issuer, based upon the 134,902,629 shares of Common Stock outstanding as of October 29, 2021, according to the Form 10-Q filed by the Issuer on November 3, 2021.

Tremblant Capital Group has the sole power to vote or direct the vote of 3,783,605 shares of Common Stock and the shared power to vote or direct the vote of 0 shares of Common Stock.

Tremblant Capital Group has the sole power to dispose or direct the disposition of 3,783,605 shares of Common Stock and the shared power to dispose or direct the disposition of 0 shares of Common Stock.

The transactions in the Common Stock by the Reporting Person during the past sixty days are set forth in Exhibit A.

The Reporting Person specifically disclaims beneficial ownership in the shares of Common Stock reported herein except to the extent of their pecuniary interest therein.

As of December 17, 2021, the Reporting Persons ceased to be the beneficial owners of more than 5% of the shares of Common Stock.

Contracts, Arrangements, Understandings or Relationships with Respect

to Securities of the Issuer.

In addition to the Common Stock beneficially held by the Reporting Person, the advisory clients of the Reporting Person entered into certain equity swap agreements (the “Swaps”) with certain counterparties relating to 102,299 shares of the Common Stock in the aggregate (the “Reference Shares”).  Under the terms of these Swaps (i) the advisory clients of the Reporting Person will be obligated to pay to the counterparties any capital depreciation of the Reference Shares as of maturity, plus interest, and (ii) the counterparties will be obligated to pay to the advisory clients of the Reporting Person any capital appreciation of the Reference Shares as of maturity.  Any dividends received by the counterparties on the Reference Shares during the term of the Swaps will be paid to the advisory clients of the Reporting Person.  All balances will be cash settled at maturity and there will be no transfer of voting or dispositive power over the Reference Shares.

Exhibit A: Schedule of Transactions in the Common Stock