Initial Statement of Beneficial Ownership (3)
December 09 2020 - 6:16PM
Edgar (US Regulatory)
FORM 3
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0104
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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
*
Kumar Anita |
2. Date of Event Requiring Statement (MM/DD/YYYY)
12/1/2020
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3. Issuer Name and Ticker or Trading Symbol
COMMUNICATIONS SYSTEMS INC [JCS]
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(Last)
(First)
(Middle)
10900 RED CIRCLE DRIVE |
4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
__X__ Director _____ 10% Owner ___X___ Officer (give title below) _____ Other (specify below) President/CEO / |
(Street)
MINNETONKA, MN 55343
(City)
(State)
(Zip)
| 5. 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
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Table I - Non-Derivative Securities Beneficially Owned
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1.Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Stock | 5636.72 | I | By ESOP |
Common Stock | 2559 | 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. 4) | 2. Date Exercisable and Expiration Date (MM/DD/YYYY) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) |
Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Stock Option (Right-to-Buy) | 5/6/2021 (1) | 5/6/2027 | Common Stock | 10493 | $5.39 | D | |
Stock Option (Right-to-Buy) | 11/24/2020 (2) | 11/24/2027 | Common Stock | 18750 | $4.4512 | D | |
Restricted Stock Units | (4) | (4) | Common Stock | 3983 | (3) | D | |
Restricted Stock Units | (5) | (5) | Common Stock | 7115 | (3) | D | |
Restricted Stock Units | (6) | (6) | Common Stock | 5000 | (3) | D | |
Explanation of Responses: |
(1) | Option vests as to 25% on each of the first four anniversaries of the date of grant. |
(2) | Option vests as to 25% on the date of grant and each of the first three anniversaries of the date of grant. |
(3) | Each Restricted Stock Unit represents a contingent right to receive one share of CSI Common Stock. |
(4) | The Restricted Stock Units vest as to 50% on each of March 28, 2021 and 2022. |
(5) | The Restricted Stock Units vest as to 1/3 on each of May 6, 2021, 2022 and 2023. |
(6) | The Restricted Stock Units vest as to 50% on each of November 24, 2021 and 2022. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Kumar Anita 10900 RED CIRCLE DRIVE MINNETONKA, MN 55343 | X |
| President/CEO |
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Signatures
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Suzette McNally, Attorney-in-Fact for Anita Kumar | | 12/9/2020 |
**Signature of Reporting Person | Date |
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