SUNation Energy, Inc. — Director's Dealing 2021

Aug 5, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNICATIONS SYSTEMS INC (JCS)
CIK: 0000022701
Period of Report: 2021-08-02

Reporting Person: SAMPSON RANDALL D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-08-02	Common Stock	M	16767	$6.33	Acquired	76666	Direct
2021-08-02	Common Stock	F	14844	$7.15	Disposed	61822	Direct
2021-08-02	Common Stock	M	10000	$4.34	Acquired	71822	Direct
2021-08-02	Common Stock	F	6069	$7.15	Disposed	65753	Direct
2021-08-02	Common Stock	M	12500	$2.74	Acquired	78253	Direct
2021-08-02	Common Stock	F	4790	$7.15	Disposed	73463	Direct
2021-08-02	Common Stock	M	10000	$4.94	Acquired	83463	Direct
2021-08-02	Common Stock	F	6909	$7.15	Disposed	76554	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-08-02	Stock Option (Right-to-Buy)	$11.05	J	16767	Disposed	2022-05-21	Common Stock (16767)	Direct
2021-08-02	Stock Option (Right-to-Buy)	$6.33	M	16767	Disposed	2023-05-19	Common Stock (16767)	Direct
2021-08-02	Stock Option (Right-to-Buy)	$4.34	M	10000	Disposed	2024-05-24	Common Stock (10000)	Direct
2021-08-02	Stock Option (Right-to-Buy)	$2.74	M	12500	Disposed	2026-05-22	Common Stock (12500)	Direct
2021-08-02	Stock Option (Right-to-Buy)	$4.94	M	10000	Disposed	2027-06-17	Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	681334	Indirect

Footnotes

F1: Includes 34,550 shares owned by reporting person individually and 25,349 shares owned jointly by reporting person and his spouse

F2: Held as of August 2, 2021 by the Sampson Family Real Estate Holdings, LLC (SFREH), of which Mr. Sampson is the sole manager. Members of SFREH include the Marian Arlis Sampson 2012 Family Revocable Trust, the Curtis A. Sampson Family Trust, and the Randall D. Sampson GST Trust, of which Mr. Sampson is the grantor and his grandchildren are beneficiaries. Mr. Sampson and his children are among the beneficiaries of the Marian Arlis Sampson 2012 Family Irrevocable Trust and the Curtis A. Sampson Family Trust. Mr. Sampson disclaims beneficial ownership in membership interests of SFREH in which he has no pecuniary interest.

F3: Following the death of Curtis A. Sampson on July 16, 2020, Randall D. Sampson became the executor of the estate of Curtis A. Sampson, became the trustee of certain trusts of Curtis A. Sampson that held Communication Systems, Inc. stock and was granted other fiduciary powers relating to Communications Systems, Inc. stock. Transactions by Mr. R. Sampson in Communications Systems, Inc. stock in his fiduciary capacity subsequent to July 16, 2020 are exempt from reporting under Rule 16a-2(d)(1).

F4: As provided under the 2011 Plan and in accordance with the determinations of the Compensation Committee, all stock options outstanding on August 2, 2021 having an exercise price equal or greater than the Fair Market Value on the August 2, 2021 closing date of the E&S Sale Transaction were terminated and cancelled as of the closing date without any payment therefor.

F5: Option fully vested on May 19, 2017

F6: Option fully vested on May 24, 2018

F7: Option fully vested on May 22, 2020

F8: Option fully vested on June 17, 2021