Morris Goldfarb Form 4 G III APPAREL / MORRIS GOLDFARB ownership change

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

GOLDFARB MORRIS

(Last) (First) (Middle)

C/O G-III APPAREL GROUP, LTD.

512 SEVENTH AVENUE

(Street)

NEW YORK NY 10018

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
G III APPAREL GROUP LTD /DE/ [ GIII ]

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

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
CEO and President

3. Date of Earliest Transaction (Month/Day/Year)
05/11/2016

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, Par Value $.01 Per Share	05/11/2016		J(1)		100,000	A	$40.19	2,577,699	D
Common Stock, Par Value $.01 Per Share	05/11/2016		J(1)		100,000	D	$40.19	0	I	Morris Goldfarb 2015 GRAT JG
Common Stock, Par Value $.01 Per Share	05/11/2016		J(1)		500,000	A	$40.19	3,077,699	D
Common Stock, Par Value $.01 Per Share	05/11/2016		J(1)		500,000	D	$40.19	0	I	Morris Goldfarb 2015 GRAT JG II
Common Stock, Par Value $.01 Per Share	05/11/2016		J(1)		100,000	A	$40.19	3,177,699	D
Common Stock, Par Value $.01 Per Share	05/11/2016		J(1)		100,000	D	$40.19	0	I	Morris Goldfarb 2015 GRAT LF
Common Stock, Par Value $.01 Per Share	05/11/2016		J(1)		500,000	A	$40.19	3,677,699	D
Common Stock, Par Value $.01 Per Share	05/11/2016		J(1)		500,000	D	$40.19	0	I	Morris Goldfarb 2015 GRAT LF II
Common Stock, Par Value $.01 Per Share	05/11/2016		J(2)	V	600,000	A	$39.16	600,000	I	Morris Goldfarb 2016 GRAT JG
Common Stock, Par Value $.01 Per Share	05/11/2016		J(2)	V	600,000	D	$39.16	3,077,699	D
Common Stock, Par Value $.01 Per Share	05/11/2016		J(2)	V	600,000	A	$39.16	600,000	I	Morris Goldfarb 2016 GRAT LF
Common Stock, Par Value $.01 Per Share	05/11/2016		J(2)	V	600,000	D	$39.16	2,477,699	D
Common Stock, Par Value $.01 Per Share								200,000	I	Arlene Goldfarb 2012 Delaware Trust
Common Stock, Par Value $.01 Per Share								166,750	I	Goldfarb Family Partners, LLC
Common Stock, Par Value $.01 Per Share								200,000	I	Morris Goldfarb 2012 Delaware Trust
Common Stock, Par Value $.01 Per Share								29,666	I	Spouse
Common Stock, Par Value $.01 Per Share								92,802	I	The Morris And Arlene Goldfarb Family Foundation
Common Stock, Par Value $.01 Per Share								130,000	I	Trust For Daughter ( Spouse Is Trustee)
Common Stock, Par Value $.01 Per Share								130,000	I	Trust For Son (spouse Is Trustee)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Effective May 11, 2016, Mr. Goldfarb withdrew 100,000 shares of common stock from each of the Morris Goldfarb 2015 GRAT JG and the Morris Goldfarb 2015 GRAT LF and 500,000 shares of common stock from each of the Morris Goldfarb 2015 GRAT JG II and the Morris Goldfarb 2015 GRAT LF II in exchange for promissory notes. The principal amount of each promissory note is equal to the average of the high and low sales prices of our common stock on such date, multiplied by the number of shares of common stock withdrawn from the corresponding GRAT.

2. Effective May 11, 2016, Mr. Goldfarb transferred 600,000 shares of common stock to each of the Morris Goldfarb 2016 GRAT JG and the Morris Goldfarb 2016 GRAT LF.

	/s/ Morris Goldfarb	05/12/2016
	** 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 4 (b)(v).
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