NATHANS FAMOUS, INC. — Director's Dealing 2007

Feb 16, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATHANS FAMOUS INC (NATH)
CIK: 0000069733
Period of Report: 2007-02-15

Reporting Person: DEVOS RONALD G (VP - Fin, CFO and Secy.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-15	Common Stock	M	1500	$3.3438	Acquired	1500	Direct
2007-02-15	Common Stock	S	500	$15.015	Disposed	1000	Direct
2007-02-15	Common Stock	S	500	$15.018	Disposed	500	Direct
2007-02-15	Common Stock	S	500	$15.022	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-15	1998 Stock Option Plan (Option to Buy)	$3.3438	M	1500	Disposed	2019-10-28	Common Stock (1500)	Direct

Footnotes

F1: Does not include options to purchase 9,300 shares under the 1992 Stock Option Plan, options to purchase 15,000 shares under the 2001 Stock Option Plan and options to purchase 15,000 shares under the 2002 Stock Option Plan.