DECKERS OUTDOOR CORP — Director's Dealing 2011

Mar 2, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DECKERS OUTDOOR CORP (DECK)
CIK: 0000910521
Period of Report: 2011-03-01

Reporting Person: RISHWAIN CONSTANCE (President UGG)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-01	Common Stock	D	3098	—	Disposed	102862	Direct
2011-03-01	Common Stock	M	60000	$26.73	Acquired	162862	Direct
2011-03-01	Common Stock	D	19171	$83.66	Disposed	143691	Direct
2011-03-01	Common Stock	D	18704	—	Disposed	124987	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-03-01	Stock Appreciation Right	$26.73	M	60000	Disposed	2017-05-09	Common Stock (60000)	Direct

Footnotes

F1: Shares withheld and not issued to satisfy certain tax withholding obligations incident to the vesting on March 1, 2011 of 80% of level 1 restricted stock units granted on May 9, 2007 under Deckers Outdoor Corporation's 2006 Equity Incentive Plan.

F2: Shares withheld and not issued to satisgy certain tax withholding obligations incident to the exercise on March 1, 2011 of the level 1 sotck appreciation rights.