BUILD-A-BEAR WORKSHOP INC — Director's Dealing 2012

May 29, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BUILD A BEAR WORKSHOP INC (BBW)
CIK: 0001113809
Period of Report: 2012-05-24

Reporting Person: Leonard Braden Michael (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-24	Common Stock	P	12500	$4.612	Acquired	2412500	Indirect
2012-05-25	Common Stock	P	5000	$4.7664	Acquired	2417500	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	115804	Direct

Footnotes

F1: Represents the purchase of 12,500 shares in [ 78 ] separate transactions, ranging in price from $4.50 to $4.69, resulting in a weighted average purchase price per share of $4.612. The reporting person will provide, upon request by the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares purchased at each separate price within the range.

F2: Represents the purchase of 5,000 shares in [ 34 ] separate transactions, ranging in price from $4.63 to $4.82, resulting in a weighted average purchase price per share of $4.7664. The reporting person will provide, upon request by the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares purchased at each separate price within the range.

F3: BML Capital Management, LLC ("BML Capital") serves as the general partner of BML Investment Partners, L.P., a Delaware limited partnership (the "Fund"), which is the direct owner of the subject shares. Mr. Leonard is the managing member of BML Capital, and exercises investment and voting control over the subject shares. Accordingly, shares owned directly by the Fund may be regarded as being beneficially owned by Mr. Leonard. Notwithstanding, Mr. Leonard disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.