BUILD-A-BEAR WORKSHOP INC — Director's Dealing 2010

Mar 25, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BUILD A BEAR WORKSHOP INC (BBW)
CIK: 0001113809
Period of Report: 2010-03-23

Reporting Person: Clark Maxine (Director, CEBear & Chairman of the Board, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-03-23	Common Stock	A	49208	—	Acquired	283221	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-03-23	Employee Stock Option (Right to Buy)	$6.59	A	82144	Acquired	2020-03-23	Common Stock (82144)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	37402	Indirect
Common Stock	2188783	Indirect

Footnotes

F1: Grant to reporting person of 49,208 shares of restricted stock. The shares vest in equal annual installments over four years from the date of grant.

F2: Price is not applicable to grants of restricted stock.

F3: After giving effect to the transactions reported in this Form 4, Ms. Clark directly beneficially owns 62,748 shares of common stock and 220,473 shares of restricted stock along with 37,402 shares indirectly through her spouse and 2,188,783 shares indirectly through Smart Stuff, Inc. of Build-A-Bear Workshop, Inc. In addition, Ms. Clark holds vested options to purchase 142,488 shares and unvested options to purchase 160,906 shares of Build-A-Bear Workshop, Inc.'s common stock.

F4: The options vest in equal annual installments over four years from the date of grant.

F5: Price is not applicable to acquisitions resulting from grants of stock options.