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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">As filed with the Securities and Exchange Commission on May 30, 2019</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:right;">Registration No. 333-</p>

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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
Washington, D.C. 20549</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>FORM S-8</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>REGISTRATION STATEMENT UNDER<br>
THE SECURITIES ACT OF 1933</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>NATIONAL HOLDINGS CORPORATION</b><br>
(Exact Name of Registrant as Specified in Its Charter)</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Delaware</b></p>
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			<td style="vertical-align:top;width:38.4%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>36-412138</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">(State or Other Jurisdiction of Incorporation</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">or Organization)</p>
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			<td style="vertical-align:top;width:38.4%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">(I.R.S. Employer</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Identification No.)</p>
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			<td style="vertical-align:top;width:61.5%;">&nbsp;</td>
			<td style="vertical-align:top;width:38.4%;">&nbsp;</td>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>200 Vesey Street, 25<sup>th</sup> Floor, New York, NY</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>10281</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">(Address of Principal Executive Offices)</p>
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			<td style="vertical-align:top;width:38.4%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">(Zip Code)</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>National Holdings Corporation 2013 Omnibus Incentive Plan</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Nonqualified Inducement Stock Option Grant</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Full Title of the Plan)</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Michael A. Mullen<br>
Chief Executive Officer</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>National Holdings Corporation<br>
200 Vesey Street, 25<sup>th</sup> Floor</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>New York, NY 10281</b><br>
(Name and Address of Agent For Service)</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(212) 407-8000</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Telephone Number, Including Area Code, of Agent For Service)</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act.</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Large accelerated filer&nbsp;&nbsp;&#9744;</p>
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			<td style="vertical-align: top; width: 49.9%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: right;">Accelerated filer&nbsp;&#9744;</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Non-accelerated filer&nbsp;&nbsp;&#9746;</p>
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			<td style="vertical-align: top; width: 49.9%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: right;">Smaller reporting company&nbsp;&#9744;</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;&nbsp;&nbsp;&nbsp;</b></p>
			</td>
			<td style="vertical-align: top; width: 49.9%; text-align: right;">Emerging growth company&nbsp;&#9744;</td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. &#9744;</p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>CALCULATION OF REGISTRATION FEE</b></p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Title of</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Securities to be</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Registered</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Amount to be</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Registered(1)</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Proposed</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Maximum</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Offering Price Per</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Share</p>
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			<td style="vertical-align: bottom; border-width: 3px 1px 1px; border-style: double solid solid; border-color: rgb(0, 0, 0); width: 20%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Proposed</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Maximum</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Aggregate</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Offering Price</p>
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			<td style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 20%; border-right: 3px double rgb(0, 0, 0); border-top: 3px double rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Amount of</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Registration Fee</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Common Stock, $0.02 par value per share</p>
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			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 22.7%; border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">180,000 shares(2)</p>
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			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 20%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">$5.33(4)</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 20%; border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">$959,400(4)</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 20%; border-right: 3px double rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">$116.28</p>
			</td>
		</tr>
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			<td style="vertical-align: top; width: 17.3%; border-left: 3px double rgb(0, 0, 0); border-bottom: 3px double rgb(0, 0, 0); padding: 0px 0px 0px 5px;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Common Stock, $0.02 par value per share</p>
			</td>
			<td style="vertical-align: middle; width: 22.7%; border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 3px double rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">1,499,867&nbsp;shares(3)</p>
			</td>
			<td style="vertical-align: middle; width: 20%; border-bottom: 3px double rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">$2.77(5)</p>
			</td>
			<td style="vertical-align: middle; width: 20%; border-right: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 3px double rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">$4,154,631.59(5)</p>
			</td>
			<td style="vertical-align: middle; width: 20%; border-right: 3px double rgb(0, 0, 0); border-bottom: 3px double rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">$503.54</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-36pt;">&nbsp;</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(1)</p>
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			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">In accordance with Rule 416 under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), this registration statement shall be deemed to cover any additional securities that may from time to time be offered or issued to prevent dilution resulting from stock splits, stock dividends or similar transactions.</p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(2)</p>
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			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Represents shares of common stock of National Holdings Corporation (the &ldquo;Registrant&rdquo;) available for issuance upon exercise of stock options granted to the Registrant&rsquo;s president and chief financial officer, Glenn C. Worman, as inducement grants for initial employment issued in accordance with NASDAQ Listing Rule 5635(c)(4).</p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(3)</p>
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			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Represents 599,867 additional shares issuable under the National Holdings Corporation 2013 Omnibus Incentive Plan, as amended (the &quot;2013 Plan&quot;), as a result of an amendment to the 2013 Plan in 2018, and 900,000 additional shares issuable under the 2013 Plan as a result of an amendment to the 2013 Plan in 2019.</p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(4)</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Estimated solely for the purpose of calculating the registration fee in accordance with Rule 457(h) of the Securities Act. The price per share and aggregate offering price are calculated on the basis of $5.33, the weighted average exercise price of the 180,000 shares subject to outstanding stock option grants under the Stock Option Agreement, at prices ranging from $4.50 to $6.00.</p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(5)</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and 457(h) of the Securities Act, and based upon the average of the high and low prices of the Registrant&rsquo;s Common Stock as reported on the Nasdaq Capital Market on May 24, 2019.</p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>EXPLANATORY NOTE</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">This Registration Statement on Form S-8 relating to the 2013 Plan is being filed for the purpose of registering additional securities of the same class as other securities for which a Registration Statement on Form S-8 has previously been filed and is effective.&nbsp; Accordingly, this Registration Statement hereby incorporates by reference the contents of the Registration Statement on Form S-8, File No. 333-191253, filed with the Securities and Exchange Commission on September 19, 2013 by the Registrant, relating to the Registrant&rsquo;s 2013 Plan, except for Item 6, Indemnification of Directors and Officers, and Item 8, Exhibits.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><br>
<b>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"><b>Item 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indemnification of Directors and Officers.</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">Under the General Corporation Law of the State of Delaware (the &ldquo;DGCL&rdquo;), a corporation may include provisions in its certificate of incorporation that will relieve its directors of monetary liability for breaches of their fiduciary duty to the corporation, except under certain circumstances, including a breach of the director&rsquo;s duty of loyalty, acts or omissions of the director not in good faith or which involve intentional misconduct or a knowing violation of law, the approval of an improper payment of a dividend or an improper purchase by the corporation of stock or any transaction from which the director derived an improper personal benefit. The Registrant&rsquo;s Certificate of Incorporation, as amended, eliminates the personal liability of directors to the Registrant or its stockholders for monetary damages for breach of fiduciary duty as a director with certain limited exceptions set forth in the DGCL.</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">Section 145 of the DGCL grants to corporations the power to indemnify each officer and director against liabilities and expenses incurred by reason of the fact that he or she is or was an officer or director of the corporation if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. The Registrant&rsquo;s Certificate of Incorporation, as amended, and Amended and Restated By-Laws provide for indemnification of each officer and director of the Registrant to the fullest extent permitted by the DGCL. Section 145 of the DGCL also empowers corporations to purchase and maintain insurance on behalf of any person who is or was an officer or director of the corporation against liability asserted against or incurred by him in any such capacity, whether or not the corporation would have the power to indemnify such officer or director against such liability under the provisions of Section 145 of the DGCL.</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">The Registrant has entered into employment agreements with certain of its executive officers that provide that the Registrant will defend and indemnify the executive officer to the fullest extent permitted by the DGCL. The employment agreements also provide that the executive officer will have the right to choose his or her own counsel and that the Registrant will not object to the executive officer&rsquo;s choice, provided that there is no actual conflict regarding the representation.</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"><b>Item 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits.</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:94.6%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><u>Number</u>&nbsp;</p>
			</td>
			<td style="vertical-align: top; width: 85%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><u>Description</u></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">&nbsp;</td>
			<td style="vertical-align: top; width: 85%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">4.1</p>
			</td>
			<td style="vertical-align: top; width: 85%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><a href="http://www.sec.gov/Archives/edgar/data/1023844/000143774917001439/ex3-1.htm" style="-sec-extract:exhibit;">The Registrant&rsquo;s Amended and Restated Certificate of Incorporation, dated as of February 1, 2017 (incorporated by reference to Exhibit 3.1 to the Registrant&rsquo;s Current Report on Form 8-K filed on February 1, 2017; File No. 001-12629)</a></p>
			</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">- 1 -</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:94.6%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">4.2</p>
			</td>
			<td style="vertical-align: top; width: 85%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><a href="http://www.sec.gov/Archives/edgar/data/1023844/000101576902000056/exhibit33.txt" style="-sec-extract:exhibit;">The Registrant&rsquo;s Amended and Restated By-Laws (incorporated by reference to Exhibit 3.3 to the Registrant&rsquo;s Quarterly Report on Form 10-Q filed on February 13, 2002; File No. 001-12629)</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">&nbsp;</td>
			<td style="vertical-align: top; width: 85%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">4.3</p>
			</td>
			<td style="vertical-align: top; width: 85%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><a href="http://www.sec.gov/Archives/edgar/data/1023844/000143774914022482/ex3-1.htm" style="-sec-extract:exhibit;">Amendment to Amended and Restated By-Laws (incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K filed on December 23, 2014, File No. 001-12629)</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">&nbsp;</td>
			<td style="vertical-align: top; width: 85%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">4.4</p>
			</td>
			<td style="vertical-align: top; width: 85%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><a href="http://www.sec.gov/Archives/edgar/data/1023844/000143774916039163/ex3-1.htm" style="-sec-extract:exhibit;">Amendment to Amended and Restated By-Laws (incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K filed on September 27, 2016; file No. 001-12629).</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">&nbsp;</td>
			<td style="vertical-align: top; width: 85%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">5</p>
			</td>
			<td style="vertical-align: top; width: 85%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><a href="ex_140391.htm" style="-sec-extract:exhibit;">Opinion of Wilmer Cutler Pickering Hale and Dorr LLP, counsel to the Registrant</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">&nbsp;</td>
			<td style="vertical-align: top; width: 85%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">23.1</p>
			</td>
			<td style="vertical-align: top; width: 85%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><a href="ex_140391.htm" style="-sec-extract:exhibit;">Consent of Wilmer Cutler Pickering Hale and Dorr LLP (included in Exhibit 5)</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">&nbsp;</td>
			<td style="vertical-align: top; width: 85%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">23.2</p>
			</td>
			<td style="vertical-align: top; width: 85%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><a href="ex_146150.htm" style="-sec-extract:exhibit;">Consent of EisnerAmper LLP</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">&nbsp;</td>
			<td style="vertical-align: top; width: 85%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">23.3</p>
			</td>
			<td style="vertical-align: top; width: 85%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><a href="ex_146151.htm" style="-sec-extract:exhibit;">Consent of BDO USA LLP</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">&nbsp;</td>
			<td style="vertical-align: top; width: 85%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">24</p>
			</td>
			<td style="vertical-align: top; width: 85%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><a href="#poa" style="-sec-extract:exhibit;">Power of attorney (included on the signature pages of this registration statement)</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">&nbsp;</td>
			<td style="vertical-align: top; width: 85%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">99.1</p>
			</td>
			<td style="vertical-align: top; width: 85%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><a href="ex_140383.htm" style="-sec-extract:exhibit;">National Holdings Corporation 2013 Omnibus Incentive Plan, as amended and restated</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">&nbsp;</td>
			<td style="vertical-align: top; width: 85%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">99.2</p>
			</td>
			<td style="vertical-align: top; width: 85%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><a href="http://www.sec.gov/Archives/edgar/data/1023844/000143774915009974/ex10-3.htm" style="-sec-extract:exhibit;">Stock Option Agreement, dated as of May 7, 2015, between the Registrant and Glenn C. Worman&nbsp;(incorporated by reference to Exhibit 10.3 to the Registrant&rsquo;s Current Report on Form 8-K filed on May 13, 2015; File No. 001-12629)</a></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-36pt;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">- 2 -</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SIGNATURES</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:left;text-indent:36pt;">Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in New York, New York, on this 30th day of May, 2019.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:left;text-indent:36pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="text-indent: 0; width: 100%;font-family: 'Times New Roman', Times, serif; font-size: 10pt">

		<tr>
			<td valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td colspan="2" valign="top" width="38%">
			<p style="margin-top: 0; margin-bottom: 0;">NATIONAL HOLDINGS CORPORATION</p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td align="left" nowrap="nowrap" valign="bottom" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td align="left" style="text-align: left;" valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td style="text-align: left" valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">By: </font></p>
			</td>
			<td align="left" nowrap="nowrap" style="BORDER-BOTTOM: #000000 1px solid" valign="top" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">/s/&nbsp;</font>Michael A. Mullen</p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;">Michael A. Mullen</p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;">Chairman of the Board and Chief Executive Officer</p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
		</tr>

</table>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><a id="poa" name="poa"></a>POWER OF ATTORNEY AND SIGNATURES</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">We, the undersigned officers and directors of National Holdings Corporation, hereby severally constitute and appoint Michael A. Mullen our true and lawful attorneys with full power to him to sign for us and in our names in the capacities indicated below, the registration statement on Form S-8 filed herewith and any and all subsequent amendments to said registration statement, and generally to do all such things in our names and on our behalf in our capacities as officers and directors to enable National Holdings Corporation to comply with the provisions of the Securities Act of 1933, as amended, and all requirements of the Securities and Exchange Commission, hereby ratifying and confirming our signatures as they may be signed by our said attorney to said registration statement and any and all amendments thereto.</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:94.6%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align: top; width: 33%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><u>Signature</u></b></p>
			</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><u>Title</u></b></p>
			</td>
			<td style="vertical-align: top; width: 31%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><u>Date</u></b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: top; width: 31%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: top; width: 31%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/ Michael A. Mullen</p>
			</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Chairman of the Board and</p>
			</td>
			<td style="vertical-align: top; width: 31%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">May 30, 2019</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%;">Michael A. Mullen</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">
			<p style="margin: 0pt;">Chief Executive Officer</p>

			<p style="margin: 0pt;">(Principal executive officer)</p>
			</td>
			<td style="vertical-align: top; width: 31%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 31%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: bottom; width: 33%; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/ Glenn C. Worman</p>
			</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Chief Financial Officer</p>
			</td>
			<td style="vertical-align: middle; width: 31%;">May 30, 2019</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%;">Glenn C. Worman</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">(Principal financial and</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">accounting officer)</p>
			</td>
			<td style="vertical-align: middle; width: 31%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 31%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/ Michael E. Singer</p>
			</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Executive Vice Chairman of</p>
			</td>
			<td style="vertical-align: middle; width: 31%;">May 30, 2019</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%;">Michael E. Singer</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">
			<p style="margin: 0pt;">the Board and Chief Strategy</p>

			<p style="margin: 0pt;">Officer</p>
			</td>
			<td style="vertical-align: middle; width: 31%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 31%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/ Robert B. Fagenson</p>
			</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Vice Chairman of the Board</p>
			</td>
			<td style="vertical-align: middle; width: 31%;">May 30, 2019</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%;">Robert B. Fagenson</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 31%;">&nbsp;</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">- 3 -</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:94.6%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align: top; width: 33%; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/ Barbara Creagh</p>
			</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Director</p>
			</td>
			<td style="vertical-align: middle; width: 31%;">May 30, 2019</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%;">Barbara Creagh</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 31%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 31%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/ Jeff Gary</p>
			</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Director</p>
			</td>
			<td style="vertical-align: middle; width: 31%;">May 30, 2019</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%;">Jeff Gary</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 31%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 31%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/ Daniel Hume</p>
			</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Director</p>
			</td>
			<td style="vertical-align: middle; width: 31%;">May 30, 2019</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%;">Daniel Hume</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 31%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 31%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/ Nassos Michas</p>
			</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Director</p>
			</td>
			<td style="vertical-align: middle; width: 31%;">May 30, 2019</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%;">Nassos Michas</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 31%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 31%;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">- 4 -</p>
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[{"type": "S-8", "sequence": "1", "filename": "nhld20190410_s8.htm", "description": "FORM S-8", "secsgml_size_bytes": 53567}]
{"company-data": {"conformed-name": "NATIONAL HOLDINGS CORP", "cik": "0001023844", "assigned-sic": "6200", "irs-number": "364128138", "state-of-incorporation": "DE", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-231832", "film-number": "19867182"}, "business-address": {"street1": "200 VESEY STREET", "street2": "25TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10281", "phone": "212-417-8000"}, "mail-address": {"street1": "200 VESEY STREET", "street2": "25TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10281"}, "former-company": {"former-conformed-name": "OLYMPIC CASCADE FINANCIAL CORP", "date-changed": "19960927"}}
nhld20190410_s8.htm
As filed with the Securities and Exchange Commission on May 30, 2019
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
NATIONAL HOLDINGS CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Delaware
36-412138
(State or Other Jurisdiction of Incorporation
or Organization)
(I.R.S. Employer
Identification No.)
200 Vesey Street, 25
th
Floor, New York, NY
10281
(Address of Principal Executive Offices)
(Zip Code)
National Holdings Corporation 2013 Omnibus Incentive Plan
Nonqualified Inducement Stock Option Grant
(Full Title of the Plan)
Michael A. Mullen
Chief Executive Officer
National Holdings Corporation
200 Vesey Street, 25
th
Floor
New York, NY 10281
(Name and Address of Agent For Service)
(212) 407-8000
(Telephone Number, Including Area Code, of Agent For Service)
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer  ☐
Accelerated filer ☐
Non-accelerated filer  ☒
Smaller reporting company ☐
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
CALCULATION OF REGISTRATION FEE
Title of
Securities to be
Registered
Amount to be
Registered(1)
Proposed
Maximum
Offering Price Per
Share
Proposed
Maximum
Aggregate
Offering Price
Amount of
Registration Fee
Common Stock, $0.02 par value per share
180,000 shares(2)
$5.33(4)
$959,400(4)
$116.28
Common Stock, $0.02 par value per share
1,499,867 shares(3)
$2.77(5)
$4,154,631.59(5)
$503.54
(1)
In accordance with Rule 416 under the Securities Act of 1933, as amended (the "Securities Act"), this registration statement shall be deemed to cover any additional securities that may from time to time be offered or issued to prevent dilution resulting from stock splits, stock dividends or similar transactions.
(2)
Represents shares of common stock of National Holdings Corporation (the "Registrant") available for issuance upon exercise of stock options granted to the Registrant's president and chief financial officer, Glenn C. Worman, as inducement grants for initial employment issued in accordance with NASDAQ Listing Rule 5635(c)(4).
(3)
Represents 599,867 additional shares issuable under the National Holdings Corporation 2013 Omnibus Incentive Plan, as amended (the "2013 Plan"), as a result of an amendment to the 2013 Plan in 2018, and 900,000 additional shares issuable under the 2013 Plan as a result of an amendment to the 2013 Plan in 2019.
(4)
Estimated solely for the purpose of calculating the registration fee in accordance with Rule 457(h) of the Securities Act. The price per share and aggregate offering price are calculated on the basis of $5.33, the weighted average exercise price of the 180,000 shares subject to outstanding stock option grants under the Stock Option Agreement, at prices ranging from $4.50 to $6.00.
(5)
Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and 457(h) of the Securities Act, and based upon the average of the high and low prices of the Registrant's Common Stock as reported on the Nasdaq Capital Market on May 24, 2019.
EXPLANATORY NOTE
This Registration Statement on Form S-8 relating to the 2013 Plan is being filed for the purpose of registering additional securities of the same class as other securities for which a Registration Statement on Form S-8 has previously been filed and is effective.  Accordingly, this Registration Statement hereby incorporates by reference the contents of the Registration Statement on Form S-8, File No. 333-191253, filed with the Securities and Exchange Commission on September 19, 2013 by the Registrant, relating to the Registrant's 2013 Plan, except for Item 6, Indemnification of Directors and Officers, and Item 8, Exhibits.
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 6.     Indemnification of Directors and Officers.
Under the General Corporation Law of the State of Delaware (the "DGCL"), a corporation may include provisions in its certificate of incorporation that will relieve its directors of monetary liability for breaches of their fiduciary duty to the corporation, except under certain circumstances, including a breach of the director's duty of loyalty, acts or omissions of the director not in good faith or which involve intentional misconduct or a knowing violation of law, the approval of an improper payment of a dividend or an improper purchase by the corporation of stock or any transaction from which the director derived an improper personal benefit. The Registrant's Certificate of Incorporation, as amended, eliminates the personal liability of directors to the Registrant or its stockholders for monetary damages for breach of fiduciary duty as a director with certain limited exceptions set forth in the DGCL.
Section 145 of the DGCL grants to corporations the power to indemnify each officer and director against liabilities and expenses incurred by reason of the fact that he or she is or was an officer or director of the corporation if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. The Registrant's Certificate of Incorporation, as amended, and Amended and Restated By-Laws provide for indemnification of each officer and director of the Registrant to the fullest extent permitted by the DGCL. Section 145 of the DGCL also empowers corporations to purchase and maintain insurance on behalf of any person who is or was an officer or director of the corporation against liability asserted against or incurred by him in any such capacity, whether or not the corporation would have the power to indemnify such officer or director against such liability under the provisions of Section 145 of the DGCL.
The Registrant has entered into employment agreements with certain of its executive officers that provide that the Registrant will defend and indemnify the executive officer to the fullest extent permitted by the DGCL. The employment agreements also provide that the executive officer will have the right to choose his or her own counsel and that the Registrant will not object to the executive officer's choice, provided that there is no actual conflict regarding the representation.
Item 8.     Exhibits.
Number
Description
4.1
The Registrant's Amended and Restated Certificate of Incorporation, dated as of February 1, 2017 (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K filed on February 1, 2017; File No. 001-12629)
- 1 -
4.2
The Registrant's Amended and Restated By-Laws (incorporated by reference to Exhibit 3.3 to the Registrant's Quarterly Report on Form 10-Q filed on February 13, 2002; File No. 001-12629)
4.3
Amendment to Amended and Restated By-Laws (incorporated by reference to the Registrant's Current Report on Form 8-K filed on December 23, 2014, File No. 001-12629)
4.4
Amendment to Amended and Restated By-Laws (incorporated by reference to the Registrant's Current Report on Form 8-K filed on September 27, 2016; file No. 001-12629).
5
Opinion of Wilmer Cutler Pickering Hale and Dorr LLP, counsel to the Registrant
23.1
Consent of Wilmer Cutler Pickering Hale and Dorr LLP (included in Exhibit 5)
23.2
Consent of EisnerAmper LLP
23.3
Consent of BDO USA LLP
24
Power of attorney (included on the signature pages of this registration statement)
99.1
National Holdings Corporation 2013 Omnibus Incentive Plan, as amended and restated
99.2
Stock Option Agreement, dated as of May 7, 2015, between the Registrant and Glenn C. Worman (incorporated by reference to Exhibit 10.3 to the Registrant's Current Report on Form 8-K filed on May 13, 2015; File No. 001-12629)
- 2 -
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in New York, New York, on this 30th day of May, 2019.
NATIONAL HOLDINGS CORPORATION
By:
/s/
Michael A. Mullen
Michael A. Mullen
Chairman of the Board and Chief Executive Officer
POWER OF ATTORNEY AND SIGNATURES
We, the undersigned officers and directors of National Holdings Corporation, hereby severally constitute and appoint Michael A. Mullen our true and lawful attorneys with full power to him to sign for us and in our names in the capacities indicated below, the registration statement on Form S-8 filed herewith and any and all subsequent amendments to said registration statement, and generally to do all such things in our names and on our behalf in our capacities as officers and directors to enable National Holdings Corporation to comply with the provisions of the Securities Act of 1933, as amended, and all requirements of the Securities and Exchange Commission, hereby ratifying and confirming our signatures as they may be signed by our said attorney to said registration statement and any and all amendments thereto.
Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature
Title
Date
/s/ Michael A. Mullen
Chairman of the Board and
May 30, 2019
Michael A. Mullen
Chief Executive Officer
(Principal executive officer)
/s/ Glenn C. Worman
Chief Financial Officer
May 30, 2019
Glenn C. Worman
(Principal financial and
accounting officer)
/s/ Michael E. Singer
Executive Vice Chairman of
May 30, 2019
Michael E. Singer
the Board and Chief Strategy
Officer
/s/ Robert B. Fagenson
Vice Chairman of the Board
May 30, 2019
Robert B. Fagenson
- 3 -
/s/ Barbara Creagh
Director
May 30, 2019
Barbara Creagh
/s/ Jeff Gary
Director
May 30, 2019
Jeff Gary
/s/ Daniel Hume
Director
May 30, 2019
Daniel Hume
/s/ Nassos Michas
Director
May 30, 2019
Nassos Michas
- 4 -