NATHANS FAMOUS, INC. — Director's Dealing 2015

Apr 3, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATHANS FAMOUS INC (NATH)
CIK: 0000069733
Period of Report: 2015-04-02

Reporting Person: Watts Randy (VP - Franchise Operations)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-04-02	2010 Stock Incentive Plan (Right to Buy)	$17.75	D	1250	Disposed	2016-06-05	Common Stock (1250)	Direct
2015-04-02	2010 Stock Incentive Plan (Right to Buy)	$11.72	A	1893	Acquired	2016-06-05	Common Stock (1893)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	12179	Direct

Footnotes

F1: In connection with the recent special cash dividend of the Issuer, the Issuer's Compensation Committee approved the exchange of options to purchase 1,250 shares at an exercise price of $17.75 for options to purchase 1,893 shares at an exercise price of $11.72. Pursuant to Article IV(e) of the Issuer's 2010 Stock Incentive Plan, the Compensation Committee has the authority to make appropriate provisions upon the Issuer's declaration of a special cash dividend. The original options vested 25% each on the first through fourth anniversaries of June 6, 2011, the grant date, and the new options will have the same vesting terms and expiration date as the original grant.