LENDWAY, INC. — Director's Dealing 2007

May 25, 2007

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: INSIGNIA SYSTEMS INC/MN (ISIG)
CIK: 0000875355
Period of Report: 2007-05-23

Reporting Person: Jones Alan (Sr. VP CPG & Retail Sales)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	43122	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Incentive Stock Option (right to buy)	$1.19	2016-05-16	Common Stock (30000)		Direct
Incentive Stock Option (right to buy)	$1.95	2014-02-19	Common Stock (3599)		Direct
Incentive Stock Option (right to buy)	$3.75	2017-05-23	Common Stock (45000)		Direct
Incentive Stock Option (right to buy)	$4.281	2010-04-11	Common Stock (3333)		Direct
Incentive Stock Option (right to buy)	$8.4	2012-02-19	Common Stock (8000)		Direct

Footnotes

F1: Exercisable in annual one-third increments beginning on the exerciable date shown.