Tile Shop (TTSH) Form 4 Change in insider ownership

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

NABRON INTERNATIONAL INC.

(Last) (First) (Middle)

2ND FLOOR, LE PRINCE DE GALLES

3-5 AVENUE DES CITRONNIERS

(Street)

MONACO O9 MC98000

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TILE SHOP HOLDINGS, INC. [ TTS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/22/2016

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/22/2016		S		50,000	D	$13.215(1)(14)	6,882,537	D(2)
Common Stock	02/23/2016		S		80,000	D	$13.2105(14)(3)	6,802,537	D(2)
Common Stock	02/24/2016		S		100,000	D	$12.92(14)(4)	6,702,537	D(2)
Common Stock	03/01/2016		S		80,000	D	$12.8228(14)(5)	6,622,537	D(2)
Common Stock	03/02/2016		S		80,000	D	$12.7382(14)(6)	6,542,537	D(2)
Common Stock	03/03/2016		S		80,000	D	$13.2175(14)(7)	6,462,537	D(2)
Common Stock	03/04/2016		S		100,000	D	$13.4292(14)(8)	6,362,537	D(2)
Common Stock	03/07/2016		S		80,000	D	$13.2937(14)(9)	6,282,537	D(2)
Common Stock	03/08/2016		S		21,217	D	$12.796(14)(10)	6,261,320	D(2)
Common Stock	03/09/2016		S		19,796	D	$13.646(14)(11)	6,241,524	D(2)
Common Stock	03/09/2016		S		130,204	D	$14.4295(14)(12)	6,111,320	D(2)
Common Stock	03/10/2016		S		33,255	D	$14.0094(14)(13)	6,078,065	D(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price in Column 4 is a weighted average price. The prices actually received ranged from $13.00 to $13.39.

2. Raymond Long Sing Tang, Jill Marie Franklin, and Louise Mary Garbarino are the directors of the reporting person and exercise voting and investment power over these securities. The reporting person and each of its directors disclaim beneficial ownership of these securities except to the extent of their respective pecuniary interests therein, and this report shall not be deemed an admission that the reporting person or any of its directors is the beneficial owner of such securities for Section 16 or any other purpose.

3. The price in Column 4 is a weighted average price. The prices actually received ranged from $12.98 to $13.32

4. The price in Column 4 is a weighted average price. The prices actually received ranged from $12.80 to $13.16

5. The price in Column 4 is a weighted average price. The prices actually received ranged from $12.58 to $12.965.

6. The price in Column 4 is a weighted average price. The prices actually received ranged from $12.58 to $12.91.

7. The price in Column 4 is a weighted average price. The prices actually received ranged from $12.73 to $13.52

8. The price in Column 4 is a weighted average price. The prices actually received ranged from $13.19 to $13.63

9. The price in Column 4 is a weighted average price. The prices actually received ranged from $13.07 to $13.55.

10. The price in Column 4 is a weighted average price. The prices actually received ranged from $12.80 to $13.11.

11. The price in Column 4 is a weighted average price. The prices actually received ranged from $13.00 to $13.99.

12. The price in Column 4 is a weighted average price. The prices actually received ranged from $14.00 to $14.675.

13. The price in Column 4 is a weighted average price. The prices actually received ranged from $14.00 to $14.64.

14. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.

	/s/ Paul D. Broude by Power of Attorney	03/11/2015
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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