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LENDWAY, INC. — Director's Dealing 2017
Dec 28, 2017
35255_dirs_2017-12-28_3d87ad2c-a790-46d3-a2d3-b3e153ae638c.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: INSIGNIA SYSTEMS INC/MN (ISIG)
CIK: 0000875355
Period of Report: 2017-12-26
Reporting Person: BIGLARI, SARDAR (10% Owner)
Reporting Person: BIGLARI CAPITAL CORP. (10% Owner)
Reporting Person: LION FUND II, L.P. (10% Owner)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2017-12-26 | Common Stock, par value $0.01 | S | 8001 | $1.22 | Disposed | 2125501 | Indirect |
| 2017-12-27 | Common Stock, par value $0.01 | S | 99999 | $1.25 | Disposed | 2025502 | Indirect |
| 2017-12-28 | Common Stock, par value $0.01 | S | 53852 | $1.2529 | Disposed | 1971650 | Indirect |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock, par value $0.01 | 11788 | Direct |
Footnotes
F1: This Form 4 is filed jointly by The Lion Fund II, L.P. (the "Lion Fund II"), Biglari Capital Corp. ("BCC") and Sardar Biglari. Each of the Lion Fund II, BCC and Mr. Biglari is a member of a Section 13(d) group that owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of the Lion Fund II, BCC and Mr. Biglari disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of its or his pecuniary interest therein.
F2: Shares owned directly by the Lion Fund II. BCC is the general partner of the Lion Fund II. Mr. Biglari is the Chairman and Chief Executive Officer of BCC and has investment discretion over the securities owned by the Lion Fund II. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II.
F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.22 to $1.25. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes 3, 4 and 5 to this Form 4.
F4: These shares were sold in multiple transactions with all executions at $1.25.
F5: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.25 to $1.27