LENDWAY, INC. — Director's Dealing 2008

May 23, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INSIGNIA SYSTEMS INC/MN (ISIG)
CIK: 0000875355
Period of Report: 2008-05-21

Reporting Person: DRILL SCOTT (Director, President and CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-05-21	Incentive Stock Option (right to buy)	$1.92	A	6666	Acquired	2018-05-21	Common Stock (6666)	Direct
2008-05-21	Non-Qualified Stock Option (right to buy)	$1.92	A	13334	Acquired	2018-05-21	Common Stock (13334)	Direct

Footnotes

F1: 6,667 shares exercisable on 5/21/2009 and 6,667 shares exercisable on 5/21/2010.