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Filing Details

Accession Number:: 0001140361-10-049244
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-12-13 09:16:25
Reporting Period:: 2010-12-09

Filing Date:: 2010-12-13
Accepted Time:: 2010-12-13 09:16:25
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
763532	Lsi Industries Inc	LYTS	Electric Lighting & Wiring Equipment (3640)	310888951

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1468829	T David Feeney	2727 Scioto Parkway Columbus OH 43221	No	No	Yes	No
1468830	A Craig Miller	2727 Scioto Parkway Columbus OH 43221	No	No	Yes	No
1468988	A Kevin Kelly	2727 Scioto Parkway Columbus OH 43221	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	2010-12-09	32,472	$9.28	2,215,275	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Shares	Option to Buy	$5.93		2019-07-23	30,000	30,000	Direct
Common Shares	Option to Buy	$5.21		2020-08-19	24,000	24,000	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2019-07-23	30,000	30,000	Direct
2020-08-19	24,000	24,000	Direct

Footnotes

1,097,614 shares of the Issuer were distributed to the reporting persons with respect to their percentage interest in connection with a Purchase and Sale Agreement dated as of July 22, 2009 by and among the Issuer, LSI Acquisition Inc., ADL Technology Inc. ("Technology") and ADL Engineering Inc. ("Engineering"). 1,372,062 shares of the Issuer will be held in escrow pursuant to the terms of an Escrow Agreement dated as of July 22, 2009 by and among LSI Acquisition Inc., each of the reporting persons and U.S. Bank, N.A. (the "Escrow Agreement"), under which the reporting persons will have the authority to direct the escrow agent thereunder to sell all or a portion of the escrowed shares.
All shares held in escrow pursuant to the Escrow Agreement are subject to forfeiture under the terms of the Escrow Agreement for a period following the closing date in order to satisfy claims arising as a result of breaches of representations and warranties or covenants under the Agreement by Technology, Engineering or the reporting persons. Following the expiration of an initial eighteen month period under the Escrow Agreement, one half of the escrowed shares and any proceeds from sales thereof will be distributed to the reporting persons and following the termination of the escrow period under the Escrow Agreement, any remaining shares and any proceeds from sales thereof will be distributed to the reporting persons.
Each of the reporting persons disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or any other purpose.
These holdings have been previously reported on Form 4.
These options vest at a rate of 25% per year beginning on the first anniversary of the grant date.
These shares were sold on the open market by Craig Miller, one of the reporting persons.
Prices range from $9.25 per share to $9.35 per share. The reporting person undertakes to provide full pricing information if requested by the Securities and Exchange Commission, the Issuer or a security holder of the Issuer.