Levine Andrew M 4

What Happened

• Andrew M. Levine, a director of NATHANS FAMOUS, exercised stock options on 2026-06-11 to acquire 10,000 shares at an exercise price of $68.50 per share (cash paid $685,000). To satisfy tax withholding, 6,744 shares were surrendered/disposed at $101.58 per share (value $685,056). The related option instrument was also reported as disposed (derivative terminated) with $0 proceeds. Net shares received by Levine were 3,256 shares (10,000 acquired minus 6,744 withheld).

Key Details

• Transaction date: 2026-06-11.
• Exercise: 10,000 shares acquired at $68.50; total cash paid $685,000 (code M).
• Tax withholding: 6,744 shares surrendered at $101.58; value $685,056 (code F).
• Derivative disposition: 10,000 option units reported disposed at $0 as the options were exercised (code M).
• Shares owned after transaction: not specified in the filing provided.
• Footnote: Options were granted under the Issuer's 2019 Stock Incentive Plan and vested over four years (1/4 each Aug 10, 2022–2025) (F1).
• Filing timeliness: Form filed 2026-06-12 for a 2026-06-11 transaction (filed the next day; not indicated as late).

Context

• This was an option exercise with a partial cashless outcome: shares were surrendered to cover tax obligations rather than an open-market sale. That means Levine ended up with a net increase in shares (3,256), but the withholding reduces immediate share ownership. The derivative disposal at $0 reflects the cancellation of the exercised options, not a market sale.