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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1423542	Skullcandy Inc.	SKUL	Household Audio & Video Equipment (3651)	562362196

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1522008	Greg Warnock	C/O Skullcandy, Inc. 1441 West Ute Boulevard, Suite 250 Park City UT 84098		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2011-07-25	34,790	$0.00	163,296	No	4	C	Direct
Common Stock	Disposition	2011-07-25	20,446	$18.60	142,850	No	4	S	Direct
Common Stock	Acquisiton	2011-07-25	324,982	$0.00	405,272	No	4	C	Indirect	By Mercato QP
Common Stock	Acquisiton	2011-07-25	150,458	$0.00	555,730	No	4	C	Indirect	By Mercato QP
Common Stock	Disposition	2011-07-25	161,435	$18.60	394,295	No	4	S	Indirect	By Mercato QP
Common Stock	Acquisiton	2011-07-25	589,316	$0.00	734,874	No	4	C	Indirect	By Mercato LP
Common Stock	Acquisiton	2011-07-25	272,832	$0.00	1,007,706	No	4	C	Indirect	By Mercato LP
Common Stock	Disposition	2011-07-25	292,745	$18.60	714,961	No	4	S	Indirect	By Mercato LP

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	C	Direct
No	4	S	Direct
No	4	C	Indirect	By Mercato QP
No	4	C	Indirect	By Mercato QP
No	4	S	Indirect	By Mercato QP
No	4	C	Indirect	By Mercato LP
No	4	C	Indirect	By Mercato LP
No	4	S	Indirect	By Mercato LP

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series A Preferred Stock	Disposition	2011-07-25	34,790	$0.00	34,790	$0.00
Common Stock	Stock Option (Right to Buy)	Acquisiton	2011-07-27	28,000	$0.00	28,000	$19.99
Common Stock	Series A Preferred Stock	Disposition	2011-07-25	324,982	$0.00	324,982	$0.00
Common Stock	Series B Preferred Stock	Disposition	2011-07-25	150,458	$0.00	150,458	$0.00
Common Stock	Series A Preferred Stock	Disposition	2011-07-25	589,316	$0.00	589,316	$0.00
Common Stock	Series B Preferred Stock	Disposition	2011-07-25	272,832	$0.00	272,832	$0.00

Remaning Holdings	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0		No	4	C	Direct
28,000	2021-07-27	No	4	A	Direct
0		No	4	C	Indirect
0		No	4	C	Indirect
0		No	4	C	Indirect
0		No	4	C	Indirect

Footnotes

Represents shares held by Mercato Partners QP, L.P. ("Mercato QP").
Represents shares held by Mercato Partners L.P. ("Mercato LP").
The Series A Preferred Stock and Series B Preferred Stock (collectively, the "Preferred Stock") converted into the Issuers common stock on a one for one basis upon the closing of the Issuer's initial public offering and had no expiration date.
The Reporting Person is a director of the Issuer. The Reporting Person and Alan Hall are managing directors of Mercato LP and Mercato QP, and have voting and dispositive power of the common stock held by Mercato QP and Mercato LP (reported on Table I) and the Preferred Stock held by Mercato QP and Mercato LP (reported on Table II). Mercato Partners, LLC (Mercato LLC") is the general partner of Mercato QP and Mercato LP. Messrs. Warnock and Hall disclaim beneficial ownership of the shares held by Mercato QP and Mercato LP except to the extent of their pecuniary interests therein.
The option vests (i) with respect to 33% of the shares underlying the option, on July 27, 2012; and (ii) with respect to the remaining 67% of the shares underlying the option, in twenty-four substantially equal installments on each monthly anniversary thereafter.
Represents the public offering price of $20.00 per common share less the underwriter's discount of $1.40 per common share.