Nasdaq Files Form 25 to Delist Nathan's Famous Common Stock

What happened

Nasdaq Stock Market LLC filed a Form 25 with the Securities and Exchange Commission on Oct. 26, 2026 to strike Nathan's Famous, Inc. common stock from listing and registration on the exchange, according to the filing.

The filing identifies the issuer as Nathan's Famous, Inc., headquartered at One Jericho Plaza in Jericho, New York, and the affected class of securities as common stock. It is signed by Tara Petta, an assistant vice president at Nasdaq.

The filing does not state a reason for the delisting. The form includes checkboxes for several rule provisions that can trigger removal, but the provided text does not show which box was marked, and no narrative explanation is included.

What Nathan's Famous does

Nathan's Famous is a restaurant company known for hot dogs, operating a chain of quick-service restaurants and selling branded products. The company's SEC filing category is retail eating places, and its listing was registered under Commission File Number 001-35962.

Its stock closed at $102.05 on the event date, up 0.11% from the prior close of $101.94, according to price data.

What this means

A Form 25 is the notice an exchange or issuer files to remove a security from listing and registration under Section 12(b) of the Securities Exchange Act of 1934. For a company's common stock, this is a significant event: it means the shares are being taken off Nasdaq and will no longer trade there.

The form distinguishes between different procedural paths. The checkboxes reference rules such as 17 CFR 240.12d2-2(a)(1) through (a)(4), which cover situations where an exchange acts on its own, and 12d2-2(c), which covers a voluntary withdrawal by the issuer. Because the filing text provided does not show which provision was selected, it is not possible to say from these sources whether Nasdaq initiated the removal or Nathan's Famous requested it.

The filing also does not say what will happen to the shares after delisting — whether they will trade on another venue, be quoted over the counter, or be deregistered entirely. Those details would typically come from a separate company statement or subsequent SEC filing, neither of which is included here.