Information Services Group Inc. — Director's Dealing 2010

Aug 30, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Information Services Group Inc. (III)
CIK: 0001371489
Period of Report: 2010-08-26

Reporting Person: SEMLER ERIC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-08-26	Common Stock	P	23000	$1.45	Acquired	23000	Indirect
2010-08-27	Common Stock	P	19000	$1.44	Acquired	42000	Indirect
2010-08-30	Common Stock	P	15000	$1.53	Acquired	57000	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	689600	Indirect
Commont Stock	1804100	Indirect
Common Stock	17747000	Indirect

Footnotes

F1: The filing of this Form 4 shall not be construed as an admission that Eric Semler 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") of Information Services Group, Inc. (the "Issuer") owned by TCS Capital, L.P., TCS Capital II, L.P., TCS Capital Investments, L.P. (collectively, the "Capital Funds") and TCS Select, L.P. (the "Select Fund", and together with the Capital Funds, the "Funds"). Pursuant to Rule 16a-1, the Reporting Person disclaims such beneficial ownership beyond its pecuniary interest.

F2: The Funds hold Common Stock for their own accounts. TCS Capital GP, LLC ("Capital GP") holds indirectly Common Stock for the accounts of the Capital Funds, of which Capital GP is the general partner. TCS Select GP, LLC ("Select GP") holds indirectly Common Stock for the account of the Select Fund, of which Select GP is the general partner. Each of Capital GP and Select GP receive an allocation of a portion of net profits from and own a partnership interest in the Capital Funds and the Select Fund, respectively. Semler Chutorian LLC ("Semler LLC") reports Common Stock held indirectly by Select GP because, as managing member of Select GP, Semler LLC controls the disposition and voting of the securities indirectly held by Select GP. Mr. Semler reports the shares held indirectly by Capital GP and Semler LLC because, as the manager of each of Capital GP and Semler LLC, at the time of purchase, Mr. Semler controlled the disposition and voting of the securities.

F3: This Form 4 is being filed to report the purchase of Common Stock by the Select Fund.

F4: On or around the date of this filing, each of the Select Fund, Select GP and Semler LLC will file a Form 3 with respect to the Issuer. With respect to any subsequent transactions in the Issuer's Common Stock by the Reporting Person, Capital GP, Select GP, Semler LLC or the Funds, the Reporting Person, Capital GP, Select GP, Semler LLC and the Funds will file a joint Form 4.

F5: As of the date of this filing, TCS Capital, L.P. ("Capital Fund") holds 689,600 shares of Common Stock. Capital Fund has not engaged in a reportable transaction as of the date of this filing.

F6: As of the date of this filing, TCS Capital II, L.P. ("Capital II Fund") holds 1,804,100 shares of Common Stock. Capital II Fund has not engaged in a reportable transaction as of the date of this filing.

F7: As of the date of this filing, TCS Capital Investments, L.P. ("Capital Investments Fund") holds 1,774,700 shares of Common Stock. Capital Investments Fund has not engaged in a reportable transaction as of the date of this filing.