LENDWAY, INC. — Director's Dealing 2009

May 22, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INSIGNIA SYSTEMS INC/MN (ISIG)
CIK: 0000875355
Period of Report: 2009-05-20

Reporting Person: KRAMER DONALD J (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-05-20	Non-Qualified Stock Option (right to buy)	$2.8	A	25000	Acquired	2019-05-20	Common Stock (25000)	Direct

Footnotes

F1: Exercisable in one-fourth increments on a quarterly basis over one year.