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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
795212	Trans World Entertainment Corp	TWMC	Retail-Record & Prerecorded Tape Stores (5735)	141541629

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
900603	J Robert Higgins	38 Corporate Circle Albany NY 12203	Chairman And Ceo	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock Par Value $.01 Per Share	Disposition	2011-02-27	253,213	$1.69	14,197,625	No	4	J	Direct
Common Stock Par Value $.01 Per Share	Acquisiton	2011-08-19	200,000	$2.05	14,397,625	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	J	Direct
No	4	P	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock Par Value $.01 Per Share	137,500	Indirect	Higgins Foundation
Common Stock Par Value $.01 Per Share	50,550	Indirect	Spouse

Reported Derivative Holdings

Sec. Name	Sec. Type	Price	Amount	Remaning Holdings	Nature of Ownership
Common Stock Par Value $.01 Per Share	Employee Stock Options (Right to Buy)	$0.00	3,075,000	3,075,000	Direct
Common Stock Par Value $.01 Per Share	Stock Settled Appreciation Rights	$0.00	450,000	450,000	Direct
Common Stock Par Value $.01 Per Share	Restricted stock units	$0.00	279,898	279,898	Direct

Amount	Remaning Holdings	Nature of Ownership
3,075,000	3,075,000	Direct
450,000	450,000	Direct
279,898	279,898	Direct

Footnotes

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
Previously reported on Form 4.
All grants are exercisable within 4 years and expire 10 years from date of grant.
Each restricted stock unit is the economic equivalent of one share of Trans World Entertainment Corporation stock.
Restricted stock units vest based on achievement of predetermined financial goals.
Restricted stock units terminate upon vesting.
The Robert J. Higgins TR UA Dated February 2, 2009 ("2009 GRAT") was formed on February 2, 2009 and received 253,303 shares on that date as a gift from Robert J. Higgins. On February 27, 2011, Mr. Higgins was distributed 90 shares from the 2009 GRAT. On the same date, the remaining 253,213 shares held by the 2009 GRAT were distributed to Mr. Higgins' children and the 2009 GRAT was terminated.