LENDWAY, INC. — Director's Dealing 2011

Mar 3, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

Reporting Person: KRAMER DONALD J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-16	Common Stock	G	2639	—	Disposed	96500	Direct
2011-03-03	Common Stock	M	25000	$3.75	Acquired	106500	Direct
2011-03-03	Common Stock	F	13746	$6.8199	Disposed	92754	Direct
2011-03-03	Common Stock	M	25000	$2.8	Acquired	117754	Direct
2011-03-03	Common Stock	F	10264	$6.8199	Disposed	107490	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-03-03	Non-Qualified Stock Option (right to buy)	$2.8	M	25000	Disposed	2019-05-20	Common Stock (25000)	Direct
2011-03-03	Non-Qualified Stock Option (right to buy)	$3.75	M	25000	Disposed	2017-05-23	Common Stock (25000)	Direct

Footnotes

F1: Gifted Shares.

F2: Payment of option exercise price by withholding of shares in exempt transaction under Rule 16b-3.

F3: Exercisable in one-fourth increments on a quarterly basis over one year.