NATHANS FAMOUS, INC. — Director's Dealing 2006

Mar 8, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATHANS FAMOUS INC (NATH)
CIK: 0000069733
Period of Report: 2006-03-06

Reporting Person: NORBITZ WAYNE (Pres. & Chief Oper. Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-03-06	Common Stock	M	4500	$3.20	Acquired	47500	Direct
2006-03-06	Common Stock	S	4500	$11.7363	Disposed	43000	Direct
2006-03-07	Common Stock	M	10500	$3.20	Acquired	53500	Direct
2006-03-07	Common Stock	S	10500	$11.0007	Disposed	43000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-03-06	2001 Stock Option Plan (Right to Buy)	$3.20	M	4500	Disposed	2006-10-30	Common Stock (4500)	Direct
2006-03-07	2001 Stock Option Plan (Right to Buy)	$3.20	M	10500	Disposed	2006-10-30	Common Stock (10500)	Direct

Footnotes

F1: Does not include options to purchase 100,000 shares under the 1998 Stock Option Plan and options to purchase 45,000 shares under the 1992 Stock Option Plan.