NATHANS FAMOUS, INC. — Director's Dealing 2007

Mar 6, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATHANS FAMOUS INC (NATH)
CIK: 0000069733
Period of Report: 2007-03-05

Reporting Person: LORBER HOWARD M (Director, Chairman and CEO, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-03-05	Common Stock	M	25000	$4	Acquired	441600	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-05	1992 Stock Option Plan (Right to Buy)	$4	M	25000	Disposed	2007-03-13	Common Stock (25000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	75000	Indirect

Footnotes

F1: Owned by Howard M. Lorber Irrevocable Trust. Reporting person disclaims beneficial ownership of these securities.

F2: Does not include options to purchase 250,000 shares granted under the 1998 Stock Option Plan, options to purchase 25,000 shares granted under the 2002 Stock Option Plan and a warrant to purchase 150,000 shares.