UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Employee Stock Option (right to buy) | Â (2) | 03/26/2014 | Common Stock | 10,000 | $ 21.81 | D | Â |
Stock Appreciation Right | Â (3) | Â (3) | Common Stock | 8,516 | $ 6.82 | D | Â |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
ZAWOYSKY MICHAEL G C/O A.C. MOORE ARTS CRAFTS, INC. 130 A.C. MOORE DRIVE BERLIN, NJ 08009 |
 |  |  V.P. and Acting CFO |  |
/s/ Amy Rhoades, by Power of Attorney | 07/07/2008 | |
**Signature of Reporting Person | Date |
* | 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). |
(1) | Includes 4,481 shares of performance accelerated restricted stock ("PARS"). 1,500 shares of PARS granted on June 13, 2007 vest in installments upon the Issuer's achievement of certain financial performance targets. Such PARS vest in full on the date that is four years from the date of grant, if not earlier vested. 2,981 shares of PARS granted on March 31, 2008 vest in installments upon the Issuer's achievement of certain financial performance targets. Such PARS vest in full on the date that is five years from the date of grant, if not earlier vested. |
(2) | This option is exercisable in three equal annual installments. The first installment became exercisable on March 26, 2008, and the other two installments become exercisable on March 26, 2009 and March 26, 2010. |
(3) | Stock appreciation rights vest in three equal annual installments and expire seven years from March 31, 2008, the grant date, if not earlier terminated or exercised in full. |
 Remarks: EXHIBIT INDEX: Exhibit 24.1 - Power of Attorney The filing of this Statement shall not be construed as an admission (a) that the person filing this Statement is, for the  purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the beneficial owner of any equity securities  covered by this Statement, or (b) that this Statement is legally required to be filed by such person. |