Statement of Changes in Beneficial Ownership (4)
August 05 2021 - 6:47AM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB Number:
3235-0287
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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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1. Name and Address of Reporting Person
*
FLUEGGE SCOTT |
2. Issuer Name and Ticker or Trading Symbol
COMMUNICATIONS SYSTEMS INC
[
JCS
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
VP of IT |
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(Last)
(First)
(Middle)
12946 66TH ST N |
3. Date of Earliest Transaction
(MM/DD/YYYY)
8/2/2021 |
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(Street)
WEST PALM BEACH, FL 33412
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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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)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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| Common Stock | 8/2/2021 | | M | | 20624 | A | $6.85 | 47518 | D | |
| Common Stock | 8/2/2021 | | F | | 20064 | D | $7.15 | 27454 | D | |
| Common Stock | 8/2/2021 | | M | | 10000 | A | $4.4 | 37454 | D | |
| Common Stock | 8/2/2021 | | F | | 9497 | D | $7.15 | 27997 | D | |
| Common Stock | 8/2/2021 | | M | | 10621 | A | $3.61 | 38618 | D | |
| Common Stock | 8/2/2021 | | F | | 7981 | D | $7.15 | 30637 | D | |
| Common Stock | 8/2/2021 | | M | | 16410 | A | $2.64 | 47047 | D | |
| Common Stock | 8/2/2021 | | F | | 11157 | D | $7.15 | 35890 | D | |
| Common Stock | 8/2/2021 | | M | | 8752 | A | $5.39 | 44642 | D | |
| Common Stock | 8/2/2021 | | F | | 5183 | D | $7.15 | 39459 | D | |
| Common Stock | 8/2/2021 | | M | | 12782 | A | $5.39 | 52241 | D | |
| Common Stock | 8/2/2021 | | F | | 10748 | D | $7.15 | 41493 | D | |
| Common Stock | 8/2/2021 | | M | | 5343 | A | $7.15 | 46836 | D | |
| Common Stock | 8/2/2021 | | F | | 1301 | D | $7.15 | 45535 | D | |
| Common Stock | 8/2/2021 | | M | | 5779 | A | $7.15 | 51314 | D | |
| Common Stock | 8/2/2021 | | F | | 1407 | D | $7.15 | 49907 | D | |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. 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 | 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 of Derivative Security: 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 | 8/2/2021 | | J | | | 15732 | (1) | 3/17/2022 | Common Stock | 15732 | $0 | 0 | D | |
| Stock Option (Right-to-Buy) | $6.85 | 8/2/2021 | | M | | | 11724 | 8/1/2021 | 3/15/2023 | Common Stock | 11724 | $0 | 0 | D | |
| Stock Option (Right-to-Buy) | $6.85 | 8/2/2021 | | M | | | 8900 | 8/1/2021 | 3/15/2023 | Common Stock | 8900 | $0 | 0 | D | |
| Stock Option (Right-to-Buy) | $6.55 | 8/2/2021 | | M | | | 10000 | 8/1/2021 | 5/25/2023 | Common Stock | 10000 | $0 | 0 | D | |
| Stock Option (Right-to-Buy) | $4.4 | 8/2/2021 | | M | | | 10621 | 8/1/2021 | 3/31/2024 | Common Stock | 10621 | $0 | 0 | D | |
| Stock Option (Right-to-Buy) | $3.61 | 8/2/2021 | | M | | | 16410 | 8/1/2021 | 3/9/2025 | Common Stock | 16410 | $0 | 0 | D | |
| Stock Option (Right-to-Buy) | $2.64 | 8/2/2021 | | M | | | 8752 | 8/1/2021 | 3/28/2026 | Common Stock | 8752 | $0 | 0 | D | |
| Stock Option (Right-to-Buy) | $5.39 | 8/2/2021 | | M | | | 12782 | 8/1/2021 | 5/6/2027 | Common Stock | 12782 | $0 | 0 | D | |
| Restricted Stock Units | $7.15 | 8/2/2021 | | M | | | 5343 | 8/1/2021 | 3/28/2026 | Common Stock | 5343 | $0 | 0 | D | |
| Restricted Stock Units | $7.15 | 8/2/2021 | | M | | | 5779 | 8/1/2021 | 5/6/2027 | Common Stock | 5779 | $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 |
Reporting Owners
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| Reporting Owner Name / Address | Relationships |
| Director | 10% Owner | Officer | Other |
FLUEGGE SCOTT
12946 66TH ST N
WEST PALM BEACH, FL 33412 |
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| VP of IT |
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Signatures
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| Suzette McNally, Attorney-in-Fact for Scott Fluegge | | 8/5/2021 |
| **Signature of Reporting Person | Date |
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