Sec Form 4 Filing - Paez Luis S @ PERRY ELLIS INTERNATIONAL, INC - 2017-01-05

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

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Paez Luis S 2. Issuer Name and Ticker or Trading Symbol PERRY ELLIS INTERNATIONAL, INC [ PERY] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chief Information Officer (Last) (First) (Middle) 3000 N.W. 107TH AVENUE 3. Date of Earliest Transaction (MM/DD/YY) 01/05/2017 (Street) MIAMI, FL33172 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 01/05/2017 M 10,000 A $ 4.63 33,802 ( 1 ) D Common Stock 01/05/2017 S 10,000 D $ 24.3369 23,802 ( 1 ) D

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 Stock Options $ 4.63 01/05/2017 M 10,000 03/18/2010 03/17/2019 Common Stock 10,000 $ 0 9,688 D Stock Appreciation Right $ 18.19 03/19/2013 03/18/2019 Common Stock 7,369 7,369 D Stock Appreciation Right $ 28.38 04/11/2012 04/10/2018 Common Stock 4,785 4,785 D Stock Appreciation Right $ 24.93 04/19/2011 04/18/2017 Common Stock 5,807 5,807 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Paez Luis S 3000 N.W. 107TH AVENUE MIAMI, FL33172 Chief Information Officer Signatures /s/ Cory Shade by Power of Attorney 01/06/2017 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Includes (i) 4,605 restricted shares granted under the 2015 Long-Term Incentive Compensation Plan (the "Plan"), successor to the Second Amended and Restated 2005 Long-Term Incentive Compensation Plan (the "2005 Plan"), which vest over three years beginning April 20, 2017; (ii) 9,206 performance shares granted under the Plan, which vest up to 100% if certain performance goals are met and the Reporting Person is employed by the Company on the last day of fiscal 2019 (and the Reporting Person may be entitled to additional performance shares if the Company exceeds the performance goals); (iii) 2,110 restricted shares granted under the 2005 Plan, which vest over two years beginning April 22, 2017; and (iv) 2,658 restricted shares granted under the 2005 Plan, which vest on April 28, 2017.

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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