TULP

SEC source: 0001654954-22-000344 · section16.xml · nonDerivative · entry 1

Glancy Kristine A · CIK 0001672376 · Director · President & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 36,751

F1 · shares: Reflects a correction to the number of shares forfeited to satisfy tax liability.

F1 · balance_after: Reflects a correction to the number of shares forfeited to satisfy tax liability.

SEC source: 0001654954-21-010758 · section16.xml · derivative · entry 1

Unterseher Loren A · CIK 0001741560 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,252

Underlying: Common Stock · 734 shares

Expires not disclosed

F1 · derivative.exercise_price: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.exercise_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.expiration_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

SEC source: 0001654954-21-010756 · section16.xml · derivative · entry 1

Berning Jacob J · CIK 0001627511 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,244

Underlying: Common Stock · 734 shares

Expires not disclosed

F1 · derivative.exercise_price: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.exercise_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.expiration_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

SEC source: 0001654954-21-010757 · section16.xml · derivative · entry 1

Johnson Chad Bruce · CIK 0001805442 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,803

Underlying: Common Stock · 567 shares

Expires not disclosed

F1 · derivative.exercise_price: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.exercise_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.expiration_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

SEC source: 0001654954-21-009731 · section16.xml · nonDerivative · entry 1

Glancy Kristine A · CIK 0001672376 · Director · President & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 43,096

SEC source: 0001654954-21-009882 · section16.xml · nonDerivative · entry 1

Glancy Kristine A · CIK 0001672376 · Director · President & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 40,525

F1 · balance_after: Corrected balance in Column 5.

SEC source: 0001654954-21-007507 · section16.xml · derivative · entry 1

Unterseher Loren A · CIK 0001741560 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,518

Underlying: Common Stock · 663 shares

Expires not disclosed

F1 · derivative.exercise_price: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.exercise_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.expiration_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

SEC source: 0001654954-21-007506 · section16.xml · derivative · entry 1

Johnson Chad Bruce · CIK 0001805442 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,236

Underlying: Common Stock · 512 shares

Expires not disclosed

F1 · derivative.exercise_price: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.exercise_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.expiration_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

SEC source: 0001654954-21-007505 · section16.xml · derivative · entry 1

Berning Jacob J · CIK 0001627511 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,510

Underlying: Common Stock · 663 shares

Expires not disclosed

F1 · derivative.exercise_price: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.exercise_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.expiration_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

SEC source: 0001654954-21-006911 · section16.xml · nonDerivative · entry 1

Weber Zackery · CIK 0001840967 · Sr Dir Fin Plng-Interim PAO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,135

SEC source: 0001654954-21-006848 · section16.xml · nonDerivative · entry 1

Unterseher Loren A · CIK 0001741560 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,249

F1 · shares: Restricted stock units, each representing a contingent right to receive one share of Issuer common stock, granted under the Insignia Systems, Inc. 2018 Equity Incentive Plan and scheduled to vest upon the earlier of June 10, 2022 and the day before the next annual meeting of shareholders of the Issuer.

SEC source: 0001654954-21-006847 · section16.xml · nonDerivative · entry 1

Johnson Chad Bruce · CIK 0001805442 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,338

F1 · shares: Restricted stock units, each representing a contingent right to receive one share of Issuer common stock, granted under the Insignia Systems, Inc. 2018 Equity Incentive Plan and scheduled to vest upon the earlier of June 10, 2022 and the day before the next annual meeting of shareholders of the Issuer.

SEC source: 0001654954-21-006846 · section16.xml · nonDerivative · entry 1

Berning Jacob J · CIK 0001627511 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,399

F1 · shares: Restricted stock units, each representing a contingent right to receive one share of Issuer common stock, granted under the Insignia Systems, Inc. 2018 Equity Incentive Plan and scheduled to vest upon the earlier of June 10, 2022 and the day before the next annual meeting of shareholders of the Issuer.

SEC source: 0001567619-21-011561 · doc1.xml · nonDerivative · entry 2

Swenson Nicholas John · CIK 0001478067 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · AO Partners I, L.P.

Disclosed balance after: 139,444

F4 · price: The price reported in Column 4 is a weighted average price. The prices actually received ranged from $7.33 to $7.94. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range for all transactions reported in this Form 4 utilizing a weighted average price.

F2 · ownership.direct: Note the following with regard to Groveland Capital LLC ("Groveland Capital"); AO Partners I, L.P. ("AO Partners Fund"); AO Partners, LLC, the General Partner to the AO Partners Fund ("AO Partners"); and Glenhurst Co. ("Glenhurst"): Mr. Swenson is the Managing Member of Groveland Capital and may direct Groveland Capital as to the vote and disposition of the shares of Common Stock it holds; Mr. Swenson is the Managing Member of AO Partners, the General Partner of AO Partners Fund, and has the power to direct the affairs of AO Partners Fund, including the voting and disposition of shares of Common Stock held in the name of AO Partners Fund; and Mr. Swenson is the sole owner of Glenhurst, and he has the power to direct the affairs of Glenhurst, including the voting and disposition of shares of Common Stock held in the name of Glenhurst.

F3 · ownership.nature: Each of the parties herein may be deemed to be a member of a Section 13(d) group disclosed in a Schedule 13D filed on behalf of the parties and Air T, Inc., the other member of such group. The members of this Section 13(d) group collectively own more than 10% of the Issuer's outstanding shares of Common Stock. Each of the parties disclaims beneficial ownership of the shares of Common Stock held by the other members of this Section 13(d) group except to the extent of his or its pecuniary interest therein. The securities reported herein do not include any securities held by Air T, Inc., as such shares are reported in a separate filing.

SEC source: 0001567619-21-011561 · doc1.xml · nonDerivative · entry 1

Swenson Nicholas John · CIK 0001478067 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · AO Partners I, L.P.

Disclosed balance after: 108,935

F1 · price: The price reported in Column 4 is a weighted average price. The prices actually received ranged from $7.14 to $7.80. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range for all transactions reported in this Form 4 utilizing a weighted average price.

F2 · ownership.direct: Note the following with regard to Groveland Capital LLC ("Groveland Capital"); AO Partners I, L.P. ("AO Partners Fund"); AO Partners, LLC, the General Partner to the AO Partners Fund ("AO Partners"); and Glenhurst Co. ("Glenhurst"): Mr. Swenson is the Managing Member of Groveland Capital and may direct Groveland Capital as to the vote and disposition of the shares of Common Stock it holds; Mr. Swenson is the Managing Member of AO Partners, the General Partner of AO Partners Fund, and has the power to direct the affairs of AO Partners Fund, including the voting and disposition of shares of Common Stock held in the name of AO Partners Fund; and Mr. Swenson is the sole owner of Glenhurst, and he has the power to direct the affairs of Glenhurst, including the voting and disposition of shares of Common Stock held in the name of Glenhurst.

F3 · ownership.nature: Each of the parties herein may be deemed to be a member of a Section 13(d) group disclosed in a Schedule 13D filed on behalf of the parties and Air T, Inc., the other member of such group. The members of this Section 13(d) group collectively own more than 10% of the Issuer's outstanding shares of Common Stock. Each of the parties disclaims beneficial ownership of the shares of Common Stock held by the other members of this Section 13(d) group except to the extent of his or its pecuniary interest therein. The securities reported herein do not include any securities held by Air T, Inc., as such shares are reported in a separate filing.

SEC source: 0001567619-21-011216 · doc1.xml · nonDerivative · entry 1

Swenson Nicholas John · CIK 0001478067 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · AO Partners I, L.P.

Disclosed balance after: 88,229

F1 · ownership.direct: Note the following with regard to Groveland Capital LLC ("Groveland Capital"); AO Partners I, L.P. ("AO Partners Fund"); AO Partners, LLC, the General Partner to the AO Partners Fund ("AO Partners"); and Glenhurst Co. ("Glenhurst"): Mr. Swenson is the Managing Member of Groveland Capital and may direct Groveland Capital as to the vote and disposition of the shares of Common Stock it holds; Mr. Swenson is the Managing Member of AO Partners, the General Partner of AO Partners Fund, and has the power to direct the affairs of AO Partners Fund, including the voting and disposition of shares of Common Stock held in the name of AO Partners Fund; and Mr. Swenson is the sole owner of Glenhurst, and he has the power to direct the affairs of Glenhurst, including the voting and disposition of shares of Common Stock held in the name of Glenhurst.

F2 · ownership.nature: Each of the parties herein may be deemed to be a member of a Section 13(d) group disclosed in a Schedule 13D filed on behalf of the parties and Air T, Inc., the other member of such group. The members of this Section 13(d) group collectively own more than 10% of the Issuer's outstanding shares of Common Stock. Each of the parties disclaims beneficial ownership of the shares of Common Stock held by the other members of this Section 13(d) group except to the extent of his or its pecuniary interest therein. The securities reported herein do not include any securities held by Air T, Inc., as such shares are reported in a separate filing.

SEC source: 0001567619-21-011163 · doc1.xml · nonDerivative · entry 2

Swenson Nicholas John · CIK 0001478067 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · AO Partners I, L.P.

Disclosed balance after: 85,655

F1 · ownership.direct: Note the following with regard to Groveland Capital LLC ("Groveland Capital"); AO Partners I, L.P. ("AO Partners Fund"); AO Partners, LLC, the General Partner to the AO Partners Fund ("AO Partners"); and Glenhurst Co. ("Glenhurst"): Mr. Swenson is the Managing Member of Groveland Capital and may direct Groveland Capital as to the vote and disposition of the shares of Common Stock it holds; Mr. Swenson is the Managing Member of AO Partners, the General Partner of AO Partners Fund, and has the power to direct the affairs of AO Partners Fund, including the voting and disposition of shares of Common Stock held in the name of AO Partners Fund; and Mr. Swenson is the sole owner of Glenhurst, and he has the power to direct the affairs of Glenhurst, including the voting and disposition of shares of Common Stock held in the name of Glenhurst.

F2 · ownership.nature: Each of the parties herein may be deemed to be a member of a Section 13(d) group disclosed in a Schedule 13D filed on behalf of the parties and Air T, Inc., the other member of such group. The members of this Section 13(d) group collectively own more than 10% of the Issuer's outstanding shares of Common Stock. Each of the parties disclaims beneficial ownership of the shares of Common Stock held by the other members of this Section 13(d) group except to the extent of his or its pecuniary interest therein. The securities reported herein do not include any securities held by Air T, Inc., as such shares are reported in a separate filing.

SEC source: 0001567619-21-011163 · doc1.xml · nonDerivative · entry 1

Swenson Nicholas John · CIK 0001478067 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · AO Partners I, L.P.

Disclosed balance after: 69,252

F1 · ownership.direct: Note the following with regard to Groveland Capital LLC ("Groveland Capital"); AO Partners I, L.P. ("AO Partners Fund"); AO Partners, LLC, the General Partner to the AO Partners Fund ("AO Partners"); and Glenhurst Co. ("Glenhurst"): Mr. Swenson is the Managing Member of Groveland Capital and may direct Groveland Capital as to the vote and disposition of the shares of Common Stock it holds; Mr. Swenson is the Managing Member of AO Partners, the General Partner of AO Partners Fund, and has the power to direct the affairs of AO Partners Fund, including the voting and disposition of shares of Common Stock held in the name of AO Partners Fund; and Mr. Swenson is the sole owner of Glenhurst, and he has the power to direct the affairs of Glenhurst, including the voting and disposition of shares of Common Stock held in the name of Glenhurst.

F2 · ownership.nature: Each of the parties herein may be deemed to be a member of a Section 13(d) group disclosed in a Schedule 13D filed on behalf of the parties and Air T, Inc., the other member of such group. The members of this Section 13(d) group collectively own more than 10% of the Issuer's outstanding shares of Common Stock. Each of the parties disclaims beneficial ownership of the shares of Common Stock held by the other members of this Section 13(d) group except to the extent of his or its pecuniary interest therein. The securities reported herein do not include any securities held by Air T, Inc., as such shares are reported in a separate filing.

SEC source: 0001567619-21-010966 · doc1.xml · nonDerivative · entry 1

Swenson Nicholas John · CIK 0001478067 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · AO Partners I, L.P.

Disclosed balance after: 65,624

F1 · ownership.direct: Note the following with regard to Groveland Capital LLC ("Groveland Capital"); AO Partners I, L.P. ("AO Partners Fund"); AO Partners, LLC, the General Partner to the AO Partners Fund ("AO Partners"); and Glenhurst Co. ("Glenhurst"): Mr. Swenson is the Managing Member of Groveland Capital and may direct Groveland Capital as to the vote and disposition of the shares of Common Stock it holds; Mr. Swenson is the Managing Member of AO Partners, the General Partner of AO Partners Fund, and has the power to direct the affairs of AO Partners Fund, including the voting and disposition of shares of Common Stock held in the name of AO Partners Fund; and Mr. Swenson is the sole owner of Glenhurst, and he has the power to direct the affairs of Glenhurst, including the voting and disposition of shares of Common Stock held in the name of Glenhurst.

F2 · ownership.nature: Each of the parties herein may be deemed to be a member of a Section 13(d) group disclosed in a Schedule 13D filed on behalf of the parties and Air T, Inc., the other member of such group. The members of this Section 13(d) group collectively own more than 10% of the Issuer's outstanding shares of Common Stock. Each of the parties disclaims beneficial ownership of the shares of Common Stock held by the other members of this Section 13(d) group except to the extent of his or its pecuniary interest therein. The securities reported herein do not include any securities held by Air T, Inc., as such shares are reported in a separate filing.

SEC source: 0001567619-21-010756 · doc1.xml · nonDerivative · entry 2

Swenson Nicholas John · CIK 0001478067 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · AO Partners I, L.P.

Disclosed balance after: 62,724

F4 · price: The price reported in Column 4 is a weighted average price. The prices actually received ranged from $6.54 to $6.64. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range for all transactions reported in this Form 4 utilizing a weighted average price.

F2 · ownership.direct: Note the following with regard to Groveland Capital LLC ("Groveland Capital"); AO Partners I, L.P. ("AO Partners Fund"); AO Partners, LLC, the General Partner to the AO Partners Fund ("AO Partners"); and Glenhurst Co. ("Glenhurst"): Mr. Swenson is the Managing Member of Groveland Capital and may direct Groveland Capital as to the vote and disposition of the shares of Common Stock it holds; Mr. Swenson is the Managing Member of AO Partners, the General Partner of AO Partners Fund, and has the power to direct the affairs of AO Partners Fund, including the voting and disposition of shares of Common Stock held in the name of AO Partners Fund; and Mr. Swenson is the sole owner of Glenhurst, and he has the power to direct the affairs of Glenhurst, including the voting and disposition of shares of Common Stock held in the name of Glenhurst.

SEC source: 0001567619-21-010756 · doc1.xml · nonDerivative · entry 1

Swenson Nicholas John · CIK 0001478067 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · AO Partners I, L.P.

Disclosed balance after: 51,009

F1 · price: The price reported in Column 4 is a weighted average price. The prices actually received ranged from $6.30 to $6.55. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range for all transactions reported in this Form 4 utilizing a weighted average price.

F2 · ownership.direct: Note the following with regard to Groveland Capital LLC ("Groveland Capital"); AO Partners I, L.P. ("AO Partners Fund"); AO Partners, LLC, the General Partner to the AO Partners Fund ("AO Partners"); and Glenhurst Co. ("Glenhurst"): Mr. Swenson is the Managing Member of Groveland Capital and may direct Groveland Capital as to the vote and disposition of the shares of Common Stock it holds; Mr. Swenson is the Managing Member of AO Partners, the General Partner of AO Partners Fund, and has the power to direct the affairs of AO Partners Fund, including the voting and disposition of shares of Common Stock held in the name of AO Partners Fund; and Mr. Swenson is the sole owner of Glenhurst, and he has the power to direct the affairs of Glenhurst, including the voting and disposition of shares of Common Stock held in the name of Glenhurst.

F3 · ownership.nature: Each of the parties herein may be deemed to be a member of a Section 13(d) group disclosed in a Schedule 13D filed on behalf of the parties and Air T, Inc., the other member of such group. The members of this Section 13(d) group collectively own more than 10% of the Issuer's outstanding shares of Common Stock. Each of the parties disclaims beneficial ownership of the shares of Common Stock held by the other members of this Section 13(d) group except to the extent of his or its pecuniary interest therein. The securities reported herein do not include any securities held by Air T, Inc., as such shares are reported in a separate filing.

SEC source: 0001654954-21-005887 · section16.xml · nonDerivative · entry 1

Glancy Kristine A · CIK 0001672376 · Director · President & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 41,588

F1 · balance_after: Includes 1,428 shares acquired December 31, 2020 pursuant to Issuer's Employee Stock Purchase Plan.

SEC source: 0001567619-21-008770 · doc1.xml · nonDerivative · entry 2

Swenson Nicholas John · CIK 0001478067 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · AO Partners I, L.P.

Disclosed balance after: 35,588

F3 · price: The price reported in Column 4 is a weighted average price. The prices actually received ranged from $5.37 to $5.60. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range for all transactions reported in this Form 4 utilizing a weighted average price.

F4 · balance_after: Shares are reflected on a post-split basis in accordance with the seven-for-one reverse stock split completed by the Issuer on December 31, 2020. Fractional shares resulting from the reverse stock split were cashed out by the issuer.

F1 · ownership.direct: Note the following with regard to Groveland Capital LLC ("Groveland Capital"); AO Partners I, L.P. ("AO Partners Fund"); AO Partners, LLC, the General Partner to the AO Partners Fund ("AO Partners"); and Glenhurst Co. ("Glenhurst"): Mr. Swenson is the Managing Member of Groveland Capital and may direct Groveland Capital as to the vote and disposition of the shares of Common Stock it holds; Mr. Swenson is the Managing Member of AO Partners, the General Partner of AO Partners Fund, and has the power to direct the affairs of AO Partners Fund, including the voting and disposition of shares of Common Stock held in the name of AO Partners Fund; and Mr. Swenson is the sole owner of Glenhurst, and he has the power to direct the affairs of Glenhurst, including the voting and disposition of shares of Common Stock held in the name of Glenhurst.

SEC source: 0001567619-21-008770 · doc1.xml · nonDerivative · entry 1

Swenson Nicholas John · CIK 0001478067 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · AO Partners I, L.P.

Disclosed balance after: 8,458

F1 · ownership.direct: Note the following with regard to Groveland Capital LLC ("Groveland Capital"); AO Partners I, L.P. ("AO Partners Fund"); AO Partners, LLC, the General Partner to the AO Partners Fund ("AO Partners"); and Glenhurst Co. ("Glenhurst"): Mr. Swenson is the Managing Member of Groveland Capital and may direct Groveland Capital as to the vote and disposition of the shares of Common Stock it holds; Mr. Swenson is the Managing Member of AO Partners, the General Partner of AO Partners Fund, and has the power to direct the affairs of AO Partners Fund, including the voting and disposition of shares of Common Stock held in the name of AO Partners Fund; and Mr. Swenson is the sole owner of Glenhurst, and he has the power to direct the affairs of Glenhurst, including the voting and disposition of shares of Common Stock held in the name of Glenhurst.

F2 · ownership.nature: Each of the parties herein may be deemed to be a member of a Section 13(d) group disclosed in a Schedule 13D filed on behalf of the parties and Air T, Inc., the other member of such group. The members of this Section 13(d) group collectively own more than 10% of the Issuer's outstanding shares of Common Stock. Each of the parties disclaims beneficial ownership of the shares of Common Stock held by the other members of this Section 13(d) group except to the extent of his or its pecuniary interest therein. The securities reported herein do not include any securities held by Air T, Inc., as such shares are reported in a separate filing.

SEC source: 0001654954-21-003813 · section16.xml · derivative · entry 1

Unterseher Loren A · CIK 0001741560 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,856

Underlying: Common Stock · 936 shares

Expires not disclosed

F1 · derivative.exercise_price: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.exercise_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.expiration_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

SEC source: 0001654954-21-003812 · section16.xml · derivative · entry 1

Johnson Chad Bruce · CIK 0001805442 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 724

Underlying: Common Stock · 724 shares

Expires not disclosed

F1 · derivative.exercise_price: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.exercise_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.expiration_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

SEC source: 0001654954-21-003811 · section16.xml · derivative · entry 1

Berning Jacob J · CIK 0001627511 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,848

Underlying: Common Stock · 936 shares

Expires not disclosed

F1 · derivative.exercise_price: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.exercise_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

F1 · derivative.expiration_date: Each Common Stock Equivalent is the economic equivalent of one share of Insignia Systems, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Insignia Systems, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Insignia Systems, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

SEC source: 0001654954-20-013920 · section16.xml · nonDerivative · entry 1

Glancy Kristine A · CIK 0001672376 · Director · President & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 288,302

F1 · shares: Restricted stock units, each representing a contingent right to receive one share of Issuer common stock, granted under the Insignia Systems, Inc. 2018 Equity Incentive Plan and scheduled to vest and settle on December 31, 2021.

SEC source: 0001654954-20-013919 · section16.xml · nonDerivative · entry 1

MAY ADAM D · CIK 0001796221 · CHIEF GROWTH OFFICER

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 87,234

F1 · shares: Restricted stock units, each representing a contingent right to receive one share of Issuer common stock, granted under the Insignia Systems, Inc. 2018 Equity Incentive Plan and scheduled to vest and settle on December 31, 2021.

F2 · balance_after: Includes 10,000 shares acquired December 31, 2019 pursuant to Issuer's Employee Stock Purchase Plan.

SEC source: 0001654954-20-013917 · section16.xml · nonDerivative · entry 1

Unterseher Loren A · CIK 0001741560 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 58,897

F1 · shares: Restricted stock units, each representing a contingent right to receive one share of Issuer common stock, granted under the Insignia Systems, Inc. 2018 Equity Incentive Plan and scheduled to vest upon the earlier of (i) the day before the next annual meeting of shareholders of the Issuer and (ii) December 22, 2021.

SEC source: 0001654954-20-013915 · section16.xml · nonDerivative · entry 1

Johnson Chad Bruce · CIK 0001805442 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 17,504

F1 · shares: Restricted stock units, each representing a contingent right to receive one share of Issuer common stock, granted under the Insignia Systems, Inc. 2018 Equity Incentive Plan and scheduled to vest upon the earlier of (i) the day before the next annual meeting of shareholders of the Issuer and (ii) December 22, 2021.

SEC source: 0001654954-20-013913 · section16.xml · nonDerivative · entry 1

Berning Jacob J · CIK 0001627511 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 80,932

F1 · shares: Restricted stock units, each representing a contingent right to receive one share of Issuer common stock, granted under the Insignia Systems, Inc. 2018 Equity Incentive Plan and scheduled to vest upon the earlier of (i) the day before the next annual meeting of shareholders of the Issuer and (ii) December 22, 2021.

SEC source: 0001567619-21-008768 · doc1.xml · nonDerivative · entry 5

Swenson Nicholas John · CIK 0001478067 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · AO Partners I, L.P.

Disclosed balance after: 26,432

F2 · ownership.direct: Note the following with regard to Groveland Capital LLC ("Groveland Capital"); AO Partners I, L.P. ("AO Partners Fund"); AO Partners, LLC, the General Partner to the AO Partners Fund ("AO Partners"); and Glenhurst Co. ("Glenhurst"): Mr. Swenson is the Managing Member of Groveland Capital and may direct Groveland Capital as to the vote and disposition of the shares of Common Stock it holds; Mr. Swenson is the Managing Member of AO Partners, the General Partner of AO Partners Fund, and has the power to direct the affairs of AO Partners Fund, including the voting and disposition of shares of Common Stock held in the name of AO Partners Fund; and Mr. Swenson is the sole owner of Glenhurst, and he has the power to direct the affairs of Glenhurst, including the voting and disposition of shares of Common Stock held in the name of Glenhurst.

SEC source: 0001567619-21-008768 · doc1.xml · nonDerivative · entry 4

Swenson Nicholas John · CIK 0001478067 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · Glenhurst Co.

Disclosed balance after: 80,000

F2 · ownership.direct: Note the following with regard to Groveland Capital LLC ("Groveland Capital"); AO Partners I, L.P. ("AO Partners Fund"); AO Partners, LLC, the General Partner to the AO Partners Fund ("AO Partners"); and Glenhurst Co. ("Glenhurst"): Mr. Swenson is the Managing Member of Groveland Capital and may direct Groveland Capital as to the vote and disposition of the shares of Common Stock it holds; Mr. Swenson is the Managing Member of AO Partners, the General Partner of AO Partners Fund, and has the power to direct the affairs of AO Partners Fund, including the voting and disposition of shares of Common Stock held in the name of AO Partners Fund; and Mr. Swenson is the sole owner of Glenhurst, and he has the power to direct the affairs of Glenhurst, including the voting and disposition of shares of Common Stock held in the name of Glenhurst.

SEC source: 0001567619-21-008768 · doc1.xml · nonDerivative · entry 3

Swenson Nicholas John · CIK 0001478067 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · Glenhurst Co.

Disclosed balance after: 30,000

F2 · ownership.direct: Note the following with regard to Groveland Capital LLC ("Groveland Capital"); AO Partners I, L.P. ("AO Partners Fund"); AO Partners, LLC, the General Partner to the AO Partners Fund ("AO Partners"); and Glenhurst Co. ("Glenhurst"): Mr. Swenson is the Managing Member of Groveland Capital and may direct Groveland Capital as to the vote and disposition of the shares of Common Stock it holds; Mr. Swenson is the Managing Member of AO Partners, the General Partner of AO Partners Fund, and has the power to direct the affairs of AO Partners Fund, including the voting and disposition of shares of Common Stock held in the name of AO Partners Fund; and Mr. Swenson is the sole owner of Glenhurst, and he has the power to direct the affairs of Glenhurst, including the voting and disposition of shares of Common Stock held in the name of Glenhurst.

SEC source: 0001567619-20-018248 · doc1.xml · nonDerivative · entry 1

AIR T INC · CIK 0000353184 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,409,742

F1 · ownership.direct: The Reporting Person may be deemed to be a member of a Section 13(d) group disclosed in a Schedule 13D filed on behalf of the Reporting Person and the other members of such group on August 18, 2014. The Reporting Person disclaims beneficial ownership of the shares of Common Stock held by the other members of this Section 13(d) group except to the extent of its pecuniary interest therein. The securities reported herein do not include any securities held by the other members of this Section 13(d) group, as such shares have been reported in a separate form filing under Section 16.

SEC source: 0001752618-20-000028 · primary_doc.xml · nonDerivative · entry 2

Funicular Fund, LP · CIK 0001752618 · 10% owner

Cable Car Capital LLC · CIK 0001699575 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 585,000

SEC source: 0001752618-20-000028 · primary_doc.xml · nonDerivative · entry 1

Funicular Fund, LP · CIK 0001752618 · 10% owner

Cable Car Capital LLC · CIK 0001699575 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,357,799

F1 · shares: Profits from the sale of 64,032 shares acquired within the preceding six months may be recoverable by the issuer in accordance with the procedures set forth in Section 16(b) of the Securities Exchange Act of 1934.

SEC source: 0001752618-20-000027 · primary_doc.xml · nonDerivative · entry 1

Funicular Fund, LP · CIK 0001752618 · 10% owner

Cable Car Capital LLC · CIK 0001699575 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,582,799

SEC source: 0001752618-20-000026 · primary_doc.xml · nonDerivative · entry 2

Funicular Fund, LP · CIK 0001752618 · 10% owner

Cable Car Capital LLC · CIK 0001699575 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,568,012

SEC source: 0001752618-20-000026 · primary_doc.xml · nonDerivative · entry 1

Funicular Fund, LP · CIK 0001752618 · 10% owner

Cable Car Capital LLC · CIK 0001699575 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,565,312

SEC source: 0001752618-20-000025 · primary_doc.xml · nonDerivative · entry 2

Funicular Fund, LP · CIK 0001752618 · 10% owner

Cable Car Capital LLC · CIK 0001699575 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,565,012

SEC source: 0001752618-20-000025 · primary_doc.xml · nonDerivative · entry 1

Funicular Fund, LP · CIK 0001752618 · 10% owner

Cable Car Capital LLC · CIK 0001699575 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,556,671

SEC source: 0001654954-20-006674 · section16.xml · nonDerivative · entry 1

Glancy Kristine A · CIK 0001672376 · Director · President & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 213,302

SEC source: 0001752618-20-000024 · primary_doc.xml · nonDerivative · entry 2

Funicular Fund, LP · CIK 0001752618 · 10% owner

Cable Car Capital LLC · CIK 0001699575 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,549,971

SEC source: 0001752618-20-000024 · primary_doc.xml · nonDerivative · entry 1

Funicular Fund, LP · CIK 0001752618 · 10% owner

Cable Car Capital LLC · CIK 0001699575 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,548,255

SEC source: 0001752618-20-000023 · primary_doc.xml · nonDerivative · entry 2

Funicular Fund, LP · CIK 0001752618 · 10% owner

Cable Car Capital LLC · CIK 0001699575 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,542,385

SEC source: 0001752618-20-000023 · primary_doc.xml · nonDerivative · entry 1

Funicular Fund, LP · CIK 0001752618 · 10% owner

Cable Car Capital LLC · CIK 0001699575 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,532,420

SEC source: 0001654954-20-005584 · section16.xml · nonDerivative · entry 1

Glancy Kristine A · CIK 0001672376 · Director · President & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 219,484

F1 · balance_after: Includes 10,000 shares acquired December 31, 2019 pursuant to Issuer's Employee Stock Purchase Plan.

SEC source: 0001752618-20-000022 · primary_doc.xml · nonDerivative · entry 1

Funicular Fund, LP · CIK 0001752618 · 10% owner

Cable Car Capital LLC · CIK 0001699575 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,518,816