Filing Details

Accession Number:
0001567619-21-008770
Form Type:
4
Zero Holdings:
No
Publication Time:
2021-04-29 17:48:15
Reporting Period:
2021-04-27
Accepted Time:
2021-04-29 17:48:15
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
1478067 John Nicholas Swenson 5000 W. 36Th Street, Unit 130
Minneapolis MN 55416
No No Yes No
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 Acquisiton 2021-04-27 4,663 $5.30 8,458 No 4 P Indirect AO Partners I, L.P.
Common Stock Acquisiton 2021-04-28 27,130 $5.53 35,588 No 4 P Indirect AO Partners I, L.P.
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 P Indirect AO Partners I, L.P.
No 4 P Indirect AO Partners I, L.P.
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock 1,738 Direct
Common Stock 60,284 Indirect Groveland Capital LLC
Common Stock 11,428 Indirect Glenhurst Co.
Reported Derivative Holdings
Sec. Name Sec. Type Price Date Expiration Date Amount Remaning Holdings Nature of Ownership
Common Stock Non-Qualified Stock Option $3.16 2014-12-08 2024-12-08 10,000 10,000 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
2024-12-08 10,000 10,000 Direct
Footnotes
  1. Note the following with regard to Groveland Capital LLC ("Groveland Capital"); AO Partners I, L.P. ("AO Partners Fund"); AO Partners, LLC, the General Partner to the AO Partners Fund ("AO Partners"); and Glenhurst Co. ("Glenhurst"): Mr. Swenson is the Managing Member of Groveland Capital and may direct Groveland Capital as to the vote and disposition of the shares of Common Stock it holds; Mr. Swenson is the Managing Member of AO Partners, the General Partner of AO Partners Fund, and has the power to direct the affairs of AO Partners Fund, including the voting and disposition of shares of Common Stock held in the name of AO Partners Fund; and Mr. Swenson is the sole owner of Glenhurst, and he has the power to direct the affairs of Glenhurst, including the voting and disposition of shares of Common Stock held in the name of Glenhurst.
  2. Each of the parties herein may be deemed to be a member of a Section 13(d) group disclosed in a Schedule 13D filed on behalf of the parties and Air T, Inc., the other member of such group. The members of this Section 13(d) group collectively own more than 10% of the Issuer's outstanding shares of Common Stock. Each of the parties disclaims beneficial ownership of the shares of Common Stock held by the other members of this Section 13(d) group except to the extent of his or its pecuniary interest therein. The securities reported herein do not include any securities held by Air T, Inc., as such shares are reported in a separate filing.
  3. The price reported in Column 4 is a weighted average price. The prices actually received ranged from $5.37 to $5.60. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range for all transactions reported in this Form 4 utilizing a weighted average price.
  4. Shares are reflected on a post-split basis in accordance with the seven-for-one reverse stock split completed by the Issuer on December 31, 2020. Fractional shares resulting from the reverse stock split were cashed out by the issuer.