LENDWAY, INC. — Director's Dealing 2011

Mar 9, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INSIGNIA SYSTEMS INC/MN (ISIG)
CIK: 0000875355
Period of Report: 2011-03-04

Reporting Person: Shireman Justin W (VP Finance, Treasurer and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-04	Common Stock	M	10000	$6.06	Acquired	10000	Direct
2011-03-04	Common Stock	S	10000	$6.752	Disposed	0	Direct
2011-03-08	Common Stock	M	5000	$1.95	Acquired	5000	Direct
2011-03-08	Common Stock	M	15000	$1.31	Acquired	20000	Direct
2011-03-08	Common Stock	M	40000	$0.96	Acquired	60000	Direct
2011-03-08	Common Stock	M	20000	$0.58	Acquired	80000	Direct
2011-03-08	Common Stock	M	50000	$1.19	Acquired	130000	Direct
2011-03-08	Common Stock	M	35000	$3.75	Acquired	165000	Direct
2011-03-08	Common Stock	M	13334	$1.92	Acquired	178334	Direct
2011-03-08	Common Stock	M	6667	$2.8	Acquired	185001	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-03-08	Incentive Stock Option (right to buy)	$0.58	M	20000	Disposed	2015-12-01	Common Stock (20000)	Direct
2011-03-08	Incentive Stock Option (right to buy)	$0.96	M	40000	Disposed	2015-05-18	Common Stock (40000)	Direct
2011-03-08	Incentive Stock Option (right to buy)	$1.19	M	50000	Disposed	2016-05-16	Common Stock (50000)	Direct
2011-03-08	Incentive Stock Option (right to buy)	$1.31	M	15000	Disposed	2014-05-20	Common Stock (15000)	Direct
2011-03-08	Incentive Stock Option (right to buy)	$1.92	M	13334	Disposed	2018-05-21	Common Stock (13334)	Direct
2011-03-08	Incentive Stock Option (right to buy)	$1.95	M	5000	Disposed	2014-02-19	Common Stock (5000)	Direct
2011-03-08	Incentive Stock Option (right to buy)	$2.8	M	6667	Disposed	2019-05-20	Common Stock (6667)	Direct
2011-03-08	Incentive Stock Option (right to buy)	$3.75	M	35000	Disposed	2017-05-23	Common Stock (35000)	Direct
2011-03-04	Incentive Stock Option (right to buy)	$6.06	M	10000	Disposed	2013-05-20	Common Stock (10000)	Direct