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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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Crane Jennifer 		2. Issuer Name and Ticker or Trading Symbol

CROSSROADS SYSTEMS INC [ CRDS ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Chief Financial Officer
(Last)          (First)          (Middle)

11000 N. MOPAC EXPRESSWAY 		3. Date of Earliest Transaction (MM/DD/YYYY)

7/31/2017
(Street)

AUSTIN, TX 78759
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
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
Option (right to buy)   $2.81   7/31/2017     D         37500      (1) 4/1/2027   Common Stock   37500     (2) 0   D    
Option (right to buy)   $5.9   7/31/2017     D         7000    6/6/2017   6/6/2026   Common Stock   7000     (2) 0   D    
Option (right to buy)   $26.8   7/31/2017     D         3000      (3) 9/17/2025   Common Stock   3000     (2) 0   D    
Option (right to buy)   $45.5906   7/31/2017     D         3005      (4) 1/17/2024   Common Stock   3005     (2) 0   D    
Option (right to buy)   $45.757   7/31/2017     D         601      (5) 10/1/2024   Common Stock   601     (2) 0   D    
Option (right to buy)   $79.0349   7/31/2017     D         751    10/17/2015   10/17/2021   Common Stock   751     (2) 0   D    
Option (right to buy)   $25.9567   7/31/2017     D         376    8/25/2012   8/25/2020   Common Stock   376     (2) 0   D    
Option (right to buy)   $25.9567   7/31/2017     D         376    8/25/2014   8/25/2020   Common Stock   376     (2) 0   D    
Common Stock Warrant (right to buy)   $40   7/31/2017     D         43    9/28/2013   3/28/2018   Common Stock   43     (2) 0   D    

Explanation of Responses:
(1)  The option vests in full on April 1, 2018.
(2)  These securities were canceled by mutual agreement of the Reporting Person and the Issuer in connection with the Reporting Person's amended retention and severance agreement with the Issuer, dated as of July 31, 2017.
(3)  The option vests over a two year period until fully vested on September 17, 2017.
(4)  The option vests quarterly over a four year period until fully vested on January 17, 2018.
(5)  The option vests quarterly over a four year period until fully vested on October 1, 2018.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Crane Jennifer
11000 N. MOPAC EXPRESSWAY
AUSTIN, TX 78759

Chief Financial Officer

Signatures
/s/ Jennifer Crane 8/4/2017
** 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 control number.
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