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Filing Details

Accession Number:: 0001209191-10-021135
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-04-06 13:00:00
Reporting Period:: 2010-04-01

Filing Date:: 2010-04-06
Accepted Time:: 2010-04-06 16:35:52
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1371489	Information Services Group Inc.	III	Services-Management Consulting Services (8742)	205261587

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1162095	Eric Semler	888 Seventh Avenue, Suite 1504 New York NY 10019	No	No	Yes	No
1363740	Tcs Capital Gp, Llc	888 Seventh Avenue, Suite 1504 New York NY 10019	No	No	Yes	No
1364122	Tcs Capital Investments, L.p.	888 Seventh Avenue, Suite 1504 New York NY 10019	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2010-04-01	193,000	$3.41	4,268,400	No	4	S	Indirect	See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	See Footnote

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Common Stock Warrant (Right to Buy)	Disposition	2010-04-01	179,900	$0.04	179,900	$6.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
3,979,300	2008-01-31	2011-01-31	No	4	S	Indirect

Footnotes

The filing of this Form 4 shall not be construed as an admission that TCS Capital Investments, L.P. ("TCS Offshore"), TCS Capital GP, LLC ("TCS") or Eric Semler, the managing member of TCS, is or was for the purposes of Section 16(a) of the Securities Exchange act of 1934, as amended, or otherwise the beneficial owner of any of the common stock, par value $0.001 per share (the "Common Stock"), or any of the redeemable common stock purchase warrants (the "Warrants") of Information Services Group, Inc. (the "Issuer") owned by TCS Capital, L.P., TCS Capital II, L.P. ("TCS II"), and TCS Offshore (collectively, the "Funds"). Pursuant to Rule 16a-1, the reporting persons disclaim such beneficial ownership beyond their pecuniary interest.
TCS Offshore holds Common Stock and Warrants for its own account. TCS holds indirectly Common Stock and Warrants for the accounts of the Funds, of which TCS is the general partner. TCS receives an allocation of a portion of net profits from and owns a partnership interest in the Funds. Mr. Semler reports the shares held indirectly by TCS because, as the manager of TCS, at the time of sale, Mr. Semler controlled the disposition and voting of the securities.
This Form 4 is being filed to report the rebalancing sale of Common Stock and Warrants by TCS Offshore Fund to the other Funds. Therefore, after the transactions reported herein, the amount of securities beneficially owned in the aggregate by the Reporting Persons did not change. However, the amount of securities held by TCS Offshore following the transactions reported herein did change so that as of the date of this filing TCS Offshore holds 1,774,700 shares of Common Stock and 1,654,500 Warrants.
TCS II purchased Common Stock and Warrants in the rebalance described herein, and the aggregate amount of Common Stock and Warrants reported herein includes Common Stock and Warrants held by TCS II. On or around the date of this filing, TCS II has filed a Form 3 with respect to the Issuer. With respect to any subsequent transactions in the Issuer's Common Stock or Warrants by the Reporting Persons or TCS II, the Reporting Persons and TCS II will file a joint Form 4.