BUILD-A-BEAR WORKSHOP INC — Director's Dealing 2011

Mar 24, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BUILD A BEAR WORKSHOP INC (BBW)
CIK: 0001113809
Period of Report: 2011-03-22

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
2011-03-22	Common Stock	A	54832	—	Acquired	333622	Direct
2011-03-22	Common Stock	F	2597	$6.21	Disposed	331025	Direct
2011-03-23	Common Stock	F	3993	$6.26	Disposed	327032	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-03-22	Employee Stock Option (Right to Buy)	$6.21	A	44412	Acquired	2021-03-22	Common Stock (44412)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1778783	Indirect
Common Stock	37402	Indirect

Footnotes

F1: Grant to reporting person of 54,832 shares of restricted stock. The shares vest in equal annual installments over four years from the date of the grant.

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

F3: Shares surrendered in payment of tax withholding due upon vesting of restricted stock.

F4: After giving effect to the transactions reported in this Form 4, Ms. Clark directly beneficially owns 85,681 shares of common stock and 241,351 shares of restricted stock along with 37,402 shares indirectly through her spouse and 1,778,783 shares indirectly through Smart Stuff, Inc. In addition, Ms. Clark holds vested options to purchase 189,278 shares and unvested options to purchase 158,528 shares of Build-A-Bear Workshop, Inc.'s common stock.

F5: The options vest in equal annual installments over four years from the date of the grant.

F6: Price is not applicable to acquisitions resulting from grants of stock options.