Kaspien (KSPN) Form 3 TRANS WORLD ENTERTAINMENT / Edwin Sapienza ownership change

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Sapienza Edwin

(Last) (First) (Middle)

38 CORPORATE CIRCLE

(Street)

ALBANY NY 12203

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
10/15/2018

3. Issuer Name and Ticker or Trading Symbol
TRANS WORLD ENTERTAINMENT CORP [ TWMC ]

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

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, par value $0.01 per share	1,250	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Options(Right to Buy)(1)	(3)	(2)	Common stock, par value $0.01 per share	8,000	1.73	D
Employee Stock Options(Right to Buy)(1)	(3)	(2)	Common stock, par value $0.01 per share	10,000	2.53	D
Employee Stock Options(Right to Buy)(1)	(3)	(2)	Common stock, par value $0.01 per share	10,000	4.87	D
Employee Stock Options(Right to Buy)(1)	(4)	(2)	Common stock, par value $0.01 per share	7,500	3.36	D
Employee Stock Options(Right to Buy)(1)	(5)	(2)	Common stock, par value $0.01 per share	7,500	3.88	D
Employee Stock Options(Right to Buy)(1)	(6)	(2)	Common stock, par value $0.01 per share	7,500	3.81	D
Employee Stock Options(Right to Buy)(1)	(7)	(2)	Common stock, par value $0.01 per share	25,000	1.85	D
Employee Stock Options(Right to Buy)	(8)	(2)	Common stock, par value $0.01 per share	25,000	0.98	D
Restricted Stock Units(1)	(9)	(11)	Common stock, par value $0.01 per share	3,750	0	D
Restricted Stock Units(1)	(10)	(11)	Common stock, par value $0.01 per share	5,000	0	D

Explanation of Responses:

1. All of the equity transactions listed above are pursuant to equity plans qualified under Rule 16b-3 and exempt from Section 16(b) of the Securities Exchange Act.

2. All grants expire 10 years from the date of grant.

3. All grants are fully vested as of the earliest reporting date.

4. 6,000 options are vested as of the earliest reporting date. 1,500 stock options vest on 6/3/2019.

5. 5,625 options are vested as of the earliest reporting date. 1,875 stock options vest on 5/15/2019.

6. 3,750 options are vested as of the earliest reporting date. 1,875 stock options vest on 5/6/2019 and 1,875 stock options vest on 5/6/2020.

7. 6,250 options are vested as of the earliest reporting date. 6,250 stock options vest on 5/1/2019, 6,250 stock options vest on 5/1/2020 and 6,250 options vest on 5/1/2021.

8. 6,250 stock options vest on 6/27/2019, 6,250 stock options vest on 6/27/2020, 6,250 stock options vest on 6/27/2021 and 6,250 options vest on 5/1/2022.

9. 1,250 RSUs vest on 5/1/2019, 1,250 RSUs vest on 5/1/2020 and 1,250 RSUs vest on 5/1/2021.

10. 1,250 RSUs vest on 6/27/2019, 1,250 RSUs vest on 6/27/2020, 1,250 RSUs vest on 6/27/2021 and 1,250 RSUs vest on 6/27/2022.

11. Restricted Stock Units terminate upon vesting.

	Edwin J. Sapienza	10/19/2018
	** 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 5 (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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