SEC FORM 5

SEC Form 5

FORM 5

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

ANNUAL 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).

Form 3 Holdings Reported.

Form 4 Transactions Reported.

1. Name and Address of Reporting Person^*

WOLFSON BRIAN SIR

(Last)

(First)

(Middle)

C/O NATURAL HEALTH TRENDS CORP.

2050 DIPLOMAT DRIVE

(Street)

DALLAS

75234

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
NATURAL HEALTH TRENDS CORP [ BHIP ]

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

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

3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2006

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 at end of Issuer's Fiscal Year (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)	3. Transaction Code (Instr. 8)	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⁽¹⁾	04/21/2004		G5	8,000	D	$0.00	7,160⁽²⁾	I	By Capital Development, S.A., an entity controlled by Sir Brian Wolfson.

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)	4. Transaction Code (Instr. 8)	(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⁽¹⁾	$1			3			07/24/2002	07/24/2007	Common Stock	20,000		20,000⁽³⁾	I	By Capital Development, S.A., an entity controlled by Sir Brian Wolfson.
Stock Options⁽¹⁾	$1.5			3			07/24/2003	07/24/2007	Common Stock	20,000		20,000	I	By Capital Development, S.A., an entity controlled by Sir Brian Wolfson.
Stock Options⁽¹⁾	$2			3			07/24/2004	07/24/2007	Common Stock	20,000		20,000	I	By Capital Development, S.A., an entity controlled by Sir Brian Wolfson.
Stock Options	$1.8	11/17/2006		4A	15,000		11/17/2007⁽⁴⁾	11/17/2011	Common Stock	15,000	$0.00	15,000	D

Explanation of Responses:

1. Sir Brian Wolfson originally became a director of Natural Health Trends Corp. on August 4, 1997, as reported on a Form 3 filed on August 14, 1997. He resigned as a director on March 31, 2000. He became a director again on May 22, 2003.

2. When Sir Brian became a director again on May 22, 2003, he indirectly owned 15,160 shares of stock through Capital Development, S.A. After the gift of 8,000 shares on April 21, 2004, there remained 7,160 shares.

3. These options were owned indirectly by Sir Brian Wolfson when he came a director again on May 22, 2003.

4. One third of the granted stock options vest annually on November 17 of 2007, 2008, and 2009.

Remarks:

	/s/ Gary C. Wallace by Power of Attorney	02/13/2007
	** 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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