Information Services Group Inc. — Director's Dealing 2011

Jan 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Information Services Group Inc. (III)
CIK: 0001371489
Period of Report: 2010-12-31

Reporting Person: SEMLER ERIC (10% Owner)
Reporting Person: TCS Capital GP, LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-12-31	Common Stock	S	351300	$1.9369	Disposed	338300	Indirect
2010-12-31	Common Stock	S	918977	$1.9369	Disposed	885123	Indirect
2010-12-31	Common Stock	S	904100	$1.9369	Disposed	870600	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	57000	Indirect

Footnotes

F1: The filing of this Form 4 shall not be construed as an admission that TCS Capital GP, LLC ("Capital GP") or Eric Semler, the managing member of Capital GP, 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 I"), TCS Capital II, L.P. ("TCS II"), TCS Capital Investments, L.P. ("TCS Offshore") and TCS Select, L.P. (the "Select Fund"). Pursuant to Rule 16a-1, the reporting persons disclaim such beneficial ownership beyond their pecuniary interest.

F2: This Form 4 is being filed in connection with the sale of Common Stock by TCS I. Capital GP holds indirectly Common Stock for the account of TCS I, of which Capital GP is the general partner. Capital GP receives an allocation of a portion of net profits from and owns a partnership interest in TCS I. Mr. Semler reports the shares held indirectly by Capital GP because, as the manager of Capital GP, at the time of sale, Mr. Semler controlled the disposition and voting of the securities.

F3: This Form 4 is being filed in connection with the sale of Common Stock by TCS II. Capital GP holds indirectly Common Stock for the account of TCS II, of which Capital GP is the general partner. Capital GP receives an allocation of a portion of net profits from and owns a partnership interest in TCS II. Mr. Semler reports the shares held indirectly by Capital GP because, as the manager of Capital GP, at the time of sale, Mr. Semler controlled the disposition and voting of the securities.

F4: This Form 4 is being filed in connection with the sale of Common Stock by TCS Offshore. Capital GP holds indirectly Common Stock for the account of TCS Offshore, of which Capital GP is the general partner. Capital GP receives an allocation of a portion of net profits from and owns a partnership interest in TCS Offshore. Mr. Semler reports the shares held indirectly by Capital GP because, as the manager of Capital GP, at the time of sale, Mr. Semler controlled the disposition and voting of the securities.

F5: TCS Select GP, LLC ("Select GP") holds indirectly 57,000 shares of Common Stock for the account of the Select Fund, of which Select GP is the general partner. Semler Chutorian LLC ("Semler LLC") is the managing member of Select GP. Mr. Semler reports the shares held indirectly by Semler LLC because, as the managing member of Semler LLC, Mr. Semler controls the disposition and voting of the securities. Mr. Semler also holds a partnership interest in Select Fund. Capital GP does not hold a pecuniary interest in the shares of Common Stock owned by Select Fund. The Select Fund has not engaged in a reportable transaction as of the date of this filing.