ROSS FRAN V 4

4 · BOSTON RESTAURANT ASSOCIATES INC · Filed Dec 27, 2006

Form 4

Period: 2006-12-22

Vice President & CFO

Transactions

Exercise Out-of-Money
Incentive Stock Option (right to purchase)
2006-12-22$1.11/sh−30,000$33,375→ 0 total
Exercise: $1.11From: 1998-03-07Exp: 2007-03-07→ Common Stock (30,000 underlying)
Disposition to Issuer
Commin Stock
2006-12-22$1.00/sh−24,801$24,801→ 0 total
Exercise Out-of-Money
Option Exercise
2006-12-22$0.94/sh−100$94→ 0 total
Exercise: $0.94From: 1996-03-01→ Common Stock (100 underlying)
Disposition to Issuer
Common Stock
2006-12-22$0.94/sh−100$94→ 0 total
Exercise Out-of-Money
Incentive Stock Option (right to purchase)
2006-12-22$0.94/sh−24,900$23,406→ 0 total
Exercise: $0.94From: 1996-03-01Exp: 2005-11-21→ Common Stock (24,900 underlying)
Exercise of In-Money
Incentive Stock Option (right to purchase)
2006-12-22$0.45/sh−20,000$9,000→ 0 total
Exercise: $0.45From: 2005-06-10Exp: 2009-12-09→ Common Stock (20,000 underlying)
Exercise Out-of-Money
Incentive Stock Option (right to purchase)
2006-12-22$0.97/sh−15,000$14,535→ 0 total
Exercise: $0.97From: 1999-09-10Exp: 2008-09-09→ Common Stock (15,000 underlying)

Footnotes (6)

[F1]Stock issued pursuant to S-2 Registration effective February 26, 1998 ("The Rights Offering)
[F2]Represents an option to purchase common stock of the Issuer at a purchase price of $.94 per share which was issued pursuant to the Issuer's 1994 Combination Stock Option Plan. The option is exercisable with respect 21% of the total on January 1, 1996; 42% of the total of January 1, 1997; 63% of the total of January 1, 1997; 63% of the total on January 1, 1998; 84% of the total on January 1, 1999; and 100% of the total on January 1, 2000.
[F3]Exercised 100 options which converted to 100 shares of Common Stock.
[F4]Represents an option to purchase common stock of the Issuer at a purchase price of $1.1125 per share which was issued pursuant to the Issuer's 1994 Combination Stock Option Plan. The option vests annually in 20% increments commencing one year from the date of grant.
[F5]Represents an option to purchase common stock of the Issuer at a purchase price of $.969 per share which was issued pursuant to the Issuer's 1994 Combination Stock Option Plan. The option vests annually in 20% increments commencing one year form the date of grant.
[F6]Grant to reporting person of option to purchase 20,000 shares of Common Stock of the Issuer under the issuer's 2002 Combination Stock Option and Share Award Plan.

Documents

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