Sec Form 4 Filing - KNUTSON SUSAN M @ Good Times Restaurants Inc. - 2020-12-18

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5

1. Name and Address of Reporting Person KNUTSON SUSAN M 2. Issuer Name and Ticker or Trading Symbol Good Times Restaurants Inc. [ GTIM] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Controller, Corp Secretary (Last) (First) (Middle) 141 UNION BLVD., #400 3. Date of Earliest Transaction (MM/DD/YY) 12/18/2020 (Street) LAKEWOOD, CO80228 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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) Code V Amount (A) or (D) Price Common Stock 12/18/2020 S 500 D $ 2.2 25,737 D Common Stock 12/18/2020 S 300 D $ 2.205 25,437 D Common Stock 12/18/2020 S 959 D $ 2.21 24,478 D Common Stock 12/18/2020 S 3,299 D $ 2.2101 21,179 D Common Stock 12/18/2020 S 129 D $ 2.212 21,050 D Common Stock 12/18/2020 S 200 D $ 2.215 20,850 D Common Stock 12/18/2020 S 1,324 D $ 2.22 19,526 D Common Stock 12/18/2020 S 1,600 D $ 2.23 17,926 D Common Stock 12/18/2020 S 1,066 D $ 2.24 16,860 D Common Stock 12/18/2020 S 52 D $ 2.245 16,808 D Common Stock 12/18/2020 S 1,265 D $ 2.25 15,543 D Common Stock 12/18/2020 S 2,040 D $ 2.26 13,503 D Common Stock 12/18/2020 S 597 D $ 2.27 12,906 D Common Stock 12/18/2020 S 1,612 D $ 2.28 11,294 D Common Stock 12/18/2020 S 200 D $ 2.29 11,094 D Common Stock 12/18/2020 S 57 D $ 2.3 11,037 D Common Stock 12/18/2020 S 437 D $ 2.33 10,600 D Common Stock 12/18/2020 S 600 D $ 2.34 10,000 D Common Stock 12/18/2020 S 10,000 D $ 2.345 0 D

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Restricted Stock Units $ 0 11/16/2020( 1 ) 11/16/2021 Common Stock 1,934 1,936 D Restricted Stock Units $ 0 06/27/2021( 2 ) 06/27/2021 Common Stock 1,823 3,759 D Incentive Stock Options (Right to Buy) $ 2.31 01/02/2013( 3 ) 01/02/2023 Common Stock 18,132 21,891 D Incentive Stock Options (Right to buy) $ 2.48 11/21/2013( 4 ) 11/21/2023 Common Stock 10,000 31,891 D Incentive Stock Options $ 5.29 11/23/2015( 5 ) 11/23/2025 Common Stock 4,159 36,050 D Incentive Stock Options (Right to Buy) $ 3.15 11/16/2016( 6 ) 11/16/2026 Common Stock 7,700 43,750 D Incentive Stock Options (Right to buy) $ 3.55 06/27/2018( 7 ) 06/27/2028 Common Stock 7,324 51,074 D Incentive Stock Options (Right to buy) $ 4.25 07/23/2018( 8 ) 07/23/2028 Common Stock 2,123 53,197 D Incentive Stock Options (Right to buy) $ 4.66 11/16/2018( 9 ) 11/16/2028 Common Stock 5,579 58,776 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other KNUTSON SUSAN M 141 UNION BLVD., #400 LAKEWOOD, CO80228 Controller, Corp Secretary Signatures Susan M. Knutson 12/22/2020 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The Reporting Person was granted 5,804 Restricted Stock Units on November 16, 2018 vesting at 1/3 of the total granted amount over three years. Such Restricted Stock Units were previously reported in Table II on a Form 4 filed with the Securities and Exchange Commission. ( 2 )The Reporting Person was granted 5,467 Restricted Stock Units ("RSU") on June 27, 2018 vesting at 1/3 of the total granted amount over three years. Such Restricted Stock Units were previously reported in Table II on a Form 4 filed with the Securities and Exchange Commission. ( 3 )The Reporting Person was granted 18,132 Incentive Stock Options (Right to Buy) on January 2, 2013 vesting at 1/5 of the total amount granted over five years. ( 4 )The Reporting Person was granted 10,000 Incentive Stock Options (Right to Buy) on November 21, 2013 vesting at 1/5 of the total amount granted over five years. ( 5 )The Reporting Person was granted 4,159 Incentive Stock Options (Right to Buy) on November 23, 2015 vesting at 1/5 of the total amount granted over five years. ( 6 )The Reporting Person was granted 7,700 Incentive Stock Options (Right to Buy) on November 16, 2016 vesting at 1/5 of the total amount granted over five years. ( 7 )The Reporting Person was granted 7,324 Incentive Stock Options (Right to Buy) on June 27, 2018 vesting at 1/5 of the total amount granted over five years. ( 8 )The Reporting Person was granted 2,123 Incentive Stock Options (Right to Buy) on July 23, 2018 vesting at 1/5 of the total amount granted over five years. ( 9 )The Reporting Person was granted 5,579 Incentive Stock Options (Right to Buy) on November 16, 2018 vesting at 1/5 of the total amount granted over five years.

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).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.