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

Feb 28, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BUILD A BEAR WORKSHOP INC (BBW)
CIK: 0001113809
Period of Report: 2011-02-24

Reporting Person: Klocke Tina (Chief Oper. & Financial Bear)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-24	Common Stock	M	11000	$6.04	Acquired	167618	Direct
2011-02-24	Common Stock	F	10413	$6.38	Disposed	157205	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-24	Employee Stock Option (right to buy)	$6.04	M	11000	Disposed	2011-02-28	Common Stock (11000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	100	Indirect
Common Stock	100	Indirect
Common Stock	300	Indirect

Footnotes

F1: Shares surrendered in payment of option exercise price in connection with exercise of 11,000 options.

F2: After giving effect to the transaction reported in this Form 4, Ms. Klocke directly owns 74,345 shares of common stock and 82,860 shares of restricted stock of Build-A-Bear Workshop, Inc. In addition, Ms. Klocke holds vested options to purchase 80,677 shares and unvested options to purchase 57,403 shares of Build-A-Bear Workshop, Inc.'s common stock. In addition, Ms. Klocke indirectly beneficially owns 200 shares through trusts for the benefit of two sons and 300 shares through her spouse.

F3: Under terms of the grant, the options vest in 25% increments over four years beginning one year after the date of grant. All remaining unexercisable options vested and became immediately exercisable in connection with the issuer's initial public offering on October 28, 2004.