Crossroads Systems Form 4 CROSSROADS SYSTEMS / MARK C HOOD ownership change

SEC Form 4

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^*

HOOD MARK C

(Last) (First) (Middle)

C/O CROSSROADS SYSTEMS, INC.

11000 N. MOPAC EXPRESSWAY #150

(Street)

AUSTIN TX 78759

(City) (State) (Zip)

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)
Executive Vice President

3. Date of Earliest Transaction (Month/Day/Year)
07/31/2017

4. If Amendment, Date of Original Filed (Month/Day/Year)

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. 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

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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
Option (right to buy)	$2.81	07/31/2017		D			37,500	(1)	04/01/2027	Common Stock	37,500	(2)	0	D
Option (right to buy)	$5.9	07/31/2017		D			8,750	06/06/2017	06/06/2026	Common Stock	8,750	(2)	0	D
Option (right to buy)	$26.8	07/31/2017		D			1,000	(3)	09/17/2025	Common Stock	1,000	(2)	0	D
Option (right to buy)	$26.8	07/31/2017		D			2,000	(3)	09/17/2025	Common Stock	2,000	(2)	0	D
Option (right to buy)	$45.757	07/31/2017		D			5,409	(4)	10/01/2024	Common Stock	5,409	(2)	0	D
Option (right to buy)	$34.9417	07/31/2017		D			3,005	06/13/2015	06/13/2023	Common Stock	3,005	(2)	0	D
Option (right to buy)	$36.9384	07/31/2017		D			1,803	01/31/2017	01/31/2023	Common Stock	1,803	(2)	0	D
Option (right to buy)	$49.0848	07/31/2017		D			601	12/12/2012	12/12/2022	Common Stock	601	(2)	0	D
Common Stock Warrant (right to buy)	$55.2	07/31/2017		D			6,532	07/30/2015	01/30/2020	Common Stock	6,532	(2)	0	I	By: MCH Advisors, Inc.(5)

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 October 1, 2018.

5. These securities are held by MCH Advisors, Inc. ("MCH"). The Reporting Person is the sole shareholder of MCH and shares voting and dispositive power over the shares held by MCH. The Reporting Person disclaims beneficial ownership of the securities held by MCH except to the extent of his pecuniary interest there.

	/s/ Jennifer Crane, Attorney-in-Fact	08/04/2017
	** 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).
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