================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 Date of Report (Date of the earliest event reported) February 17, 1999 PLAY BY PLAY TOYS & NOVELTIES, INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) Texas 0-26374 74-2623760 (State or other jurisdiction of (Commission (I.R.S. Employer incorporation or organization) File Number) Identification No.) 4400 Tejasco San Antonio, Texas 78218 (Address of principal executive offices and zip code) (210) 829-4666 (Registrant's telephone number, including area code) ================================================================================ ITEM 5. OTHER EVENTS On February 17, 1999, Play by Play Toys & Novelties, Inc.'s (the "Company") announced that Raymond Braun, who joined the Company in 1997 as Chief Financial Officer, was promoted to President and Chief Operating Officer. Mr. Braun fills a position previously held by Mark Gawlik, who has left the Company to pursue other interests. Mr. Gawlik is expected to resign as a member of the Company's Board of Directors. ITEM 7. EXHIBITS 99 Press Release 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, this 23rd day of February 1999. PLAY BY PLAY TOYS & NOVELTIES, INC. By: /s/ JOE M. GUERRA Joe M. Guerra CHIEF FINANCIAL OFFICER 3