SEC Form 4: FLUEGGE SCOTT covered exercise/tax liability with 67,338 units of Common Stock and exercised 90,311 units of Common Stock at a strike of $5.12, increasing direct ownership by 86% to 49,907 units
$JCS
Telecommunications Equipment
Public Utilities
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
COMMUNICATIONS SYSTEMS INC [ JCS ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 08/02/2021 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 08/02/2021 | M | 20,624 | A | $6.85 | 47,518 | D | |||
| Common Stock | 08/02/2021 | F | 20,064 | D | $7.15 | 27,454 | D | |||
| Common Stock | 08/02/2021 | M | 10,000 | A | $4.4 | 37,454 | D | |||
| Common Stock | 08/02/2021 | F | 9,497 | D | $7.15 | 27,997 | D | |||
| Common Stock | 08/02/2021 | M | 10,621 | A | $3.61 | 38,618 | D | |||
| Common Stock | 08/02/2021 | F | 7,981 | D | $7.15 | 30,637 | D | |||
| Common Stock | 08/02/2021 | M | 16,410 | A | $2.64 | 47,047 | D | |||
| Common Stock | 08/02/2021 | F | 11,157 | D | $7.15 | 35,890 | D | |||
| Common Stock | 08/02/2021 | M | 8,752 | A | $5.39 | 44,642 | D | |||
| Common Stock | 08/02/2021 | F | 5,183 | D | $7.15 | 39,459 | D | |||
| Common Stock | 08/02/2021 | M | 12,782 | A | $5.39 | 52,241 | D | |||
| Common Stock | 08/02/2021 | F | 10,748 | D | $7.15 | 41,493 | D | |||
| Common Stock | 08/02/2021 | M | 5,343 | A | $7.15 | 46,836 | D | |||
| Common Stock | 08/02/2021 | F | 1,301 | D | $7.15 | 45,535 | D | |||
| Common Stock | 08/02/2021 | M | 5,779 | A | $7.15 | 51,314 | D | |||
| Common Stock | 08/02/2021 | F | 1,407 | D | $7.15 | 49,907 | D | |||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Stock Option (Right-to-Buy) | $11.65 | 08/02/2021 | J | 15,732 | (1) | 03/17/2022 | Common Stock | 15,732 | $0 | 0 | D | ||||
| Stock Option (Right-to-Buy) | $6.85 | 08/02/2021 | M | 11,724 | 08/01/2021 | 03/15/2023 | Common Stock | 11,724 | $0 | 0 | D | ||||
| Stock Option (Right-to-Buy) | $6.85 | 08/02/2021 | M | 8,900 | 08/01/2021 | 03/15/2023 | Common Stock | 8,900 | $0 | 0 | D | ||||
| Stock Option (Right-to-Buy) | $6.55 | 08/02/2021 | M | 10,000 | 08/01/2021 | 05/25/2023 | Common Stock | 10,000 | $0 | 0 | D | ||||
| Stock Option (Right-to-Buy) | $4.4 | 08/02/2021 | M | 10,621 | 08/01/2021 | 03/31/2024 | Common Stock | 10,621 | $0 | 0 | D | ||||
| Stock Option (Right-to-Buy) | $3.61 | 08/02/2021 | M | 16,410 | 08/01/2021 | 03/09/2025 | Common Stock | 16,410 | $0 | 0 | D | ||||
| Stock Option (Right-to-Buy) | $2.64 | 08/02/2021 | M | 8,752 | 08/01/2021 | 03/28/2026 | Common Stock | 8,752 | $0 | 0 | D | ||||
| Stock Option (Right-to-Buy) | $5.39 | 08/02/2021 | M | 12,782 | 08/01/2021 | 05/06/2027 | Common Stock | 12,782 | $0 | 0 | D | ||||
| Restricted Stock Units | $7.15 | 08/02/2021 | M | 5,343 | 08/01/2021 | 03/28/2026 | Common Stock | 5,343 | $0 | 0 | D | ||||
| Restricted Stock Units | $7.15 | 08/02/2021 | M | 5,779 | 08/01/2021 | 05/06/2027 | Common Stock | 5,779 | $0 | 0 | D | ||||
| Explanation of Responses: |
| 1. 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 to 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 without any payment therefor |
| Suzette McNally, Attorney-in-Fact for Scott Fluegge | 08/05/2021 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||