SEC FORM 3

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

ROSS RONALD

(Last)

(First)

(Middle)

C/O SKULLCANDY, INC.

1441 WEST UTE BOULEVARD, SUITE 250

(Street)

PARK CITY

84098

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
04/01/2012

3. Issuer Name and Ticker or Trading Symbol
SKULLCANDY, INC. [ SKUL ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	PRINC. ACCOUNTING OFFICER

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
COMMON STOCK	21,000	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
STOCK OPTION (RIGHT TO BUY)	⁽¹⁾	09/05/2018	COMMON STOCK	27,720	$5.26	D
STOCK OPTION (RIGHT TO BUY)	⁽²⁾	05/27/2020	COMMON STOCK	22,923	$10.31	D
STOCK OPTION (RIGHT TO BUY)	⁽²⁾	05/27/2020	COMMON STOCK	12,077	$10.31	D
STOCK OPTION (RIGHT TO BUY)	⁽³⁾	11/04/2020	COMMON STOCK	2,378	$11.99	D
STOCK OPTION (RIGHT TO BUY)	⁽³⁾	11/04/2020	COMMON STOCK	2,826	$11.99	D
STOCK OPTION (RIGHT TO BUY)	⁽³⁾	11/04/2020	COMMON STOCK	7,995	$11.99	D
STOCK OPTION (RIGHT TO BUY)	⁽³⁾	11/04/2020	COMMON STOCK	21,801	$11.99	D

Explanation of Responses:

1. The option was granted on 9/05/2008. The vesting commencement date ("VCD") of the option is 9/02/2008. The options vest as to 25% of the shares on the first anniversary of the VCD and as to the remaining shares in monthly installments over the next 36 months. The option originally covered 28,000 shares of which 280 were exercised prior to becoming a reporting person.

2. The option was granted on 5/27/2010. The vesting commencement date ("VCD") of the option is 5/27/10. The options vest as to 25% of the shares on the first anniversary of the VCD and as to the remaining shares in monthly installments over the next 36 months.

3. The option was granted on 11/04/2010. The vesting commencement date ("VCD") of the option is 11/04/2010. The options vest as to 25% of the shares on the first anniversary of the VCD and as to the remaining shares in monthly installments over the next 36 months.

Remarks:

EXHIBIT LIST: EXHIBIT 24 - POWER OF ATTORNEY

	/S/ SEO SALIMI, ATTORNEY IN FACT FOR RONALD ROSS	04/10/2012
	** 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 5 (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.