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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

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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	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

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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

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.
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.
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.
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.