FORM 5                    U.S. SECURITIES AND EXCHANGE COMMISSION
                                    Washington, D.C. 20549
[ ]  Check this box if
     no longer subject                              ----------------------------
     to Section 16.                                 OMB APPROVAL
     Form 4 or Form 5                               ----------------------------
     obligations may                                OMB Number:  3325-0362
     continue.  See                                 Expires:  Januiary 31, 2005
     instruction 1(b)                               Estimated average burden
[ ]  Form 3 Holdings                                hours per response . . . 1.0
     Reported                                       ----------------------------

[X]  Form 4     Filed pursuant to Section 16(a) of the Securities
     Trans-     Exchange Act of 1934, Section 17(a) of the Public
     actions          Utility Holding Company Act of 1935 or
     Reported   Section 30(f) of the Investment Company Act 1940
--------------------------------------------------------------------------------
1.Name and Address of    2.Issuer Name and Ticker    6.Relationship of Reporting
  Reporting Person*        or Trading Symbol           Person to Issuer (check
                                                       all Applicable)
                           Fossil Inc.
                           (FOSL)


                                                                                              

Steinberg                  Michael                                  December 2002        X  Director         10% Owner
---------------------------------------  -----------------------    -----------------   ---               ---
     (Last)                (First)  (MI)    3.IRS or Soc.Sec.No.       4.Statement for      Officer           Other
                                              of Reporting Person        Month/Year     ---               ---
                                              (Voluntary)                              (give title below) (specify below)


2280 N. Greenville
---------------------------------------------------------            ----------------     ------------------------------------
     (Street)                                                        5. If Amendment,
                                                                        Date of Original      7.Individual or Joint/Group
                                                                        (Month/Year)            Filing (Check Applicable
Richardson               TX               75082                                                 Line)
--------------------------------------------------------
     (City)                (State)          (Zip)
                                                                                               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                   2. Transaction     2A. Deemed   3. Transaction       4. Security Acquired (A)
     (Inst.3)                             Date                Execu-       Code                 or Disposed of (D)
                                          (Month/             tion        (Instr.8)            (Inst.3, 4 & 5)
                                           Day/Yr)            Date,    ---------------------------------------------------
                                                              if any                                       (A)
                                                              (Month/                         Amount       (D)  Price
                                                               Day/
                                                               Year)


 Common Stock                              10/15/98                    P4                  4,500           A     $11.817
------------------------------------     --------------   ---------   -------           ----------------  ----  ---------
 Common Stock                               6/12/02                    G4                  4,500           D      (1)
------------------------------------     --------------   ---------   -------           ----------------  ----  ---------

------------------------------------     --------------   ---------   -------           ----------------  ----  ---------

------------------------------------     --------------   ---------   -------           ----------------  ----  ---------

------------------------------------     --------------   ---------   -------           ----------------  ----  ---------

                                                                    Page 1 of 4




                                                                                  

5.  Amount of Securities                    6.  Ownership Form                          7.  Nature of Indirect
    Beneficially Owned at                       Direct (D) or                               Beneficial Ownership
    at End Issuer's Fiscal                      Indirect (I)                                (Inst. 4)
    Year (Inst. 3 & 4)

           0                                        D
---------------------------------------      ------------------------------             -----------------------------
           0                                        D
---------------------------------------      ------------------------------             -----------------------------

---------------------------------------      ------------------------------             -----------------------------

---------------------------------------      ------------------------------             -----------------------------

---------------------------------------      ------------------------------             -----------------------------


*If form is filed by more than one reporting person, see Instruction 4(b)(v)

               Potential  persons  who  are  to  respond  to the  collection  of
               information  contained  in this form are not  required to respond
               unless the form displays a currently valid OMB control number.


                                                                    Page 2 of 4




                                                                                        

--------------------------------------------------------------------------------
             Table II - Derivative Securities Acquired, Disposed of,
                    or Beneficially Owned (e.g., puts, calls,
                    warrants, options, convertible security)
--------------------------------------------------------------------------------
1. Title of                           2. Conversion      3. Transaction      3A. Deemed   4. Transaction
   Derivative                            or Exercise        Date (Month          Execu-      Code
   Security                              Price of          (Day/Year)            tion       (Instr. 8)
   (Instr.3)                             Derivative                              Date, if
                                         Security                                any
                                                                                 (Month/
                                                                                  Day/
                                                                                  Year)


------------------------------------     ------------     ----------------      ----------    ---------------

------------------------------------     ------------     ----------------      ----------    ---------------

------------------------------------     ------------     ----------------      ----------    ---------------

------------------------------------     ------------     ----------------      ----------    ---------------

------------------------------------     ------------     ----------------      ----------    ---------------





                                                                                   

5.  Number of Derivative                    6. Date Exercisable                 7.  Title & Amount of
     Securities Acquired                       & Expiration Date                    Underlying Securities
     (A) or Disposed of (D)                    (Mon./Day/Year)                      (Inst. 3 & 4)
     (Instr. 3, 4 & 5)

-------------------------------------------------------------------------------------------------------------------
       (A)             (D)                  Date          Expiration                 Title        Amount or number
                                            Exercisable   Date                                    of Shares


-----------------  -----------------        ------------ --------------         --------------    -----------------

-----------------  -----------------        ------------  -------------         --------------    -----------------

-----------------  -----------------        ------------  -------------         --------------    -----------------

-----------------  -----------------        ------------  -------------         --------------    -----------------

-----------------  -----------------        ------------  -------------         --------------    -----------------




                                                                                     



8. Price of Derivative     9. Number of Derivative Securities     10. Ownership Form of       11. Nature of Indirect
   Security (Inst.5)          Beneficially Owned at end of            Derivative Security         Beneficial
                              Month (Instr. 4)                        Direct (D) or               Ownership (Instr.4)
                                                                      Indirect (I) (Instr.4)


-----------------------    -----------------------------------    --------------------------  ------------------------

-----------------------    -----------------------------------    --------------------------  ------------------------

-----------------------    -----------------------------------    --------------------------  ------------------------

-----------------------    -----------------------------------    --------------------------  ------------------------

-----------------------    -----------------------------------    --------------------------  ------------------------
Explanation of Responses:

(1) Bona fide gift for no consideration of any kind.





                                                                    Page 3 of 4




                                                                             

                                                                                /s/  Michael Steinberg          2/13/03
**Intentional misstatements or omissions of facts constitute Federal            ------------------------------------------
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).                  **Signature of Reporting Person  Date





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