Filing Details

Accession Number:
0000921895-18-000168
Form Type:
4
Zero Holdings:
No
Publication Time:
2018-01-16 19:19:59
Reporting Period:
2018-01-11
Accepted Time:
2018-01-16 19:19:59
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
875355 Insignia Systems Inc ISIG Services-Advertising (7310) 411656308
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1334429 Biglari Capital Corp. 17802 Ih 10 West, Suite 400
San Antonio TX 78257
No No No Yes
1334430 Biglari, Sardar 17802 Ih 10 West, Suite 400
San Antonio TX 78257
No No Yes No
1580602 Lion Fund Ii, L.p. 17802 Ih 10 West, Suite 400
San Antonio TX 78257
No No No Yes
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock, Par Value $0.01 Disposition 2018-01-11 2,818 $1.22 1,179,492 No 4 S Indirect By The Lion Fund II, L.P.
Common Stock, Par Value $0.01 Disposition 2018-01-12 56,445 $1.23 1,123,047 No 4 S Indirect By The Lion Fund II, L.P.
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 S Indirect By The Lion Fund II, L.P.
No 4 S Indirect By The Lion Fund II, L.P.
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock, Par Value $0.01 11,788 Direct
Footnotes
  1. This Form 4 is filed jointly by The Lion Fund II, L.P. (the "Lion Fund II"), Biglari Capital Corp. ("BCC") and Sardar Biglari. Each of the Lion Fund II, BCC and Mr. Biglari is a member of a Section 13(d) group that owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of the Lion Fund II, BCC and Mr. Biglari disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of its or his pecuniary interest therein.
  2. Shares owned directly by the Lion Fund II. BCC is the general partner of the Lion Fund II. Mr. Biglari is the Chairman and Chief Executive Officer of BCC and has investment discretion over the securities owned by the Lion Fund II. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II.
  3. These shares were sold in multiple transactions with all executions at $1.22.
  4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.22 to $1.24. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 4 to this Form 4.