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 *

Wells Dennis W. 		2. Issuer Name and Ticker or Trading Symbol

LSI INDUSTRIES INC [ LYTS ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
CEO and President
(Last)          (First)          (Middle)

10000 ALLIANCE ROAD 		3. Date of Earliest Transaction (MM/DD/YYYY)

11/24/2017
(Street)

CINCINNATI, OH 45242
(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
Common Shares   (1) 11/24/2017     A    445   A $6.65   39241   D    
Common Shares                  81685   D    

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 to Buy   (3) $5.96                      (2) 10/1/2024   Common Shares   100000     100000   D    
Option to Buy   (3) $6.81                      (2) 11/20/2024   Common Shares   75000     75000   D    
Option to Buy   (3) $6.55                      (2) 1/2/2025   Common Shares   39923     39923   D    
Option to Buy   (3) $9.39                      (2) 7/1/2025   Common Shares   45000     45000   D    
Option to Buy   (3) $11.06                      (2) 7/1/2026   Common Shares   60000     60000   D    
Option to Buy   (3) $9.39                      (4) 7/1/2025   Common Shares   90000     90000   D    
Option to Buy   (3) $10.2                      (5) 2/24/2027   Common Shares   65963     65963   D    
Option to Buy   (3) $5.92                      (6) 8/17/2027   Common Shares   60477     60477   D    

Explanation of Responses:
(1)  Common Shares held in the LSI Industries Inc. Non-Qualified Deferred Compensation Plan.
(2)  The options vest at a rate of 25% per year beginning on the first anniversary of the grant date.
(3)  These holdings have been previously reported on Form 4.
(4)  On July 1, 2015, the Reporting Person was granted an option to purchase 90,000 shares of common stock. The option vests in three equal annual installments based on the Issuer's satisfaction of certain performance criteria for the fiscal year ending June 30, 2016. On September 8, 2016, it was determined that the performance criteria were met.
(5)  The options vest in full on the third anniversary of the grant date.
(6)  The options vest ratably over a three year time period.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Wells Dennis W.
10000 ALLIANCE ROAD
CINCINNATI, OH 45242 		X
CEO and President

Signatures
/s/ F. Mark Reuter as Attorney-in-Fact for Dennis W. Wells 11/28/2017
** 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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