SEC FORM 4

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^*

KAHN ALFRED R

(Last)

(First)

(Middle)

1414 AVENUE OF THE AMERICAS

(Street)

NEW YORK

10019

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
4 KIDS ENTERTAINMENT INC [ KDE ]

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

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	CEO and Chairman of the Board

3. Date of Earliest Transaction (Month/Day/Year)
11/30/2007

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/30/2007		M		6,700	A	$0.9167	1,077,938⁽⁴⁾	D
Common Stock								6,000	I	By wife
Common Stock								15,950	I	By self for minor daughter
Common Stock	11/30/2007		S		6,700	D	$12.63	1,071,238⁽⁴⁾	D
Common Stock								6,000	I	By wife
Common Stock								15,950	I	By self for minor daughter
Common Stock	12/03/2007		M		113,300	A	$0.9167	1,184,538⁽⁴⁾	D
Common Stock								6,000	I	By wife
Common Stock								15,950	I	By self for minor daughter
Common Stock	12/03/2007		S		48,300	D	$11.72	1,136,238⁽⁴⁾	D
Common Stock								6,000	I	By wife
Common Stock								15,950	I	By self for minor daughter

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options	$0.9167	11/30/2007	11/30/2007	M			6,700	01/02/1998	01/02/2008	Common Stock	6,700	⁽⁵⁾	113,300	D
Stock Options	$0.9167	12/03/2007	12/03/2007	M			113,300	01/02/1998	01/02/2008	Common Stock	113,300	⁽⁵⁾	0	D
Stock Options	$3.1042							11/13/1998	11/13/2008	Common Stock	75,000		75,000	D
Stock Options	$33.2813							12/22/1999	12/22/2009	Common Stock	100,000		100,000	D
Stock Options	$8.9375							01/02/2001	01/02/2011	Common Stock	150,000		150,000	D
Stock Options	$20.03							01/02/2002	01/02/2012	Common Stock	140,000		140,000	D
Stock Options	$11.8							⁽¹⁾	04/01/2008	Common Stock	137,600		137,600	D
Stock Options	$22.37							⁽²⁾	04/01/2009	Common Stock	100,000		100,000	D
Stock Options	$20.56							⁽³⁾	04/25/2010	Common Stock	150,000		150,000	D

Explanation of Responses:

1. The options vested in two equal annual installments beginning on April 1, 2003.

2. The options vested in two equal annual installments beginning on April 1, 2004.

3. The options vested 50% on the date of grant and 50% on December 30, 2005.

4. Includes 52,349 shares of unvested restricted stock.

5. The transaction is an exercise of a derivative security and the price is reported in column 2. The sale of the exercised option is reported in table 1 above.

	/s/ Alfred R. Kahn	12/04/2007
	** 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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