Mark C Hood Form 3 CROSSROADS SYSTEMS / MARK C HOOD ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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^*

HOOD MARK C

(Last) (First) (Middle)

C/O CROSSROADS SYSTEMS, INC.

11000 N. MOPAC EXPRESSWAY #150

(Street)

AUSTIN TX 78759

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/12/2015

3. Issuer Name and Ticker or Trading Symbol
CROSSROADS SYSTEMS INC [ CRDS ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Executive Vice President

5. 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 Beneficially Owned
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	46,739	D
Common Stock	10,870	I	By: MCH Advisors, Inc.(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: 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
Option (right to buy)	(2)	12/12/2022	Common Stock	10,000	2.95	D
Option (right to buy)	(3)	01/31/2023	Common Stock	30,000	2.22	D
Option (right to buy)	(4)	06/13/2023	Common Stock	50,000	2.1	D
Option (right to buy)	(5)	10/01/2024	Common Stock	90,000	2.75	D
Common Stock Warrants (right to buy)	(6)	01/30/2020	Common Stock	5,435	2.76	D

Explanation of Responses:

1. Shares are held by MCH Advisors, Inc. ("MCH"). Mr. Hood, who together with his spouse is the sole shareholder of MCH, shares voting and dispositive power over the shares held by MCH. Mr. Hood disclaims beneficial ownership of the shares held by MCH except to the extent of his pecuniary interest therein.

2. The options are fully vested.

3. The options vest over a four year period as follows: 7,500 options vested on January 31, 2014, and 1,875 options vest quarterly thereafter until all options are fully vested on January 31, 2017.

4. The options vest over a two year period as follows: 12,500 options vested on December 13, 2013, and 6,250 options vest quarterly thereafter until all options are fully vested on June 13, 2015.

5. The options vest over a four year period as follows: 22,500 options vest on October 1, 2015, and 5,625 options vest quarterly thereafter until all options are fully vested on October 1, 2018.

6. The warrants reported herein are exercisable beginning July 30, 2015, subject to certain ownership limitations set forth therein.

	/s/ Mark C. Hood	03/20/2015
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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