Jeffery S. Bastian Form 4 LSI INDUSTRIES / Jeffery S. Bastian 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^*

Bastian Jeffery S.

(Last) (First) (Middle)

C/O LSI INDUSTRIES

10000 ALLIANCE RD.

(Street)

CINCINNATI OH 45242

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LSI INDUSTRIES INC [ LYTS ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
05/18/2023

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
Common Shares(1)								36,781	D
Common Shares	05/18/2023		M		4,481	A	$7.2	51,695	D
Common Shares	05/18/2023		M		20,000	A	$6.81	71,695	D
Common Shares	05/18/2023		F		146	D	$13.39	71,549	D
Common Shares	05/18/2023		S		24,335	D	$13.39	47,214	D

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 to Buy(2)	$4.94							(3)	08/16/2028	Common Shares	20,000		20,000	D
Option to Buy(2)	$3.83							(3)	08/21/2029	Common Shares	27,618		27,618	D
Option to Buy(2)	$9.15							(4)	06/12/2027	Common Shares	5,000		5,000	D
Option to Buy(2)	$6.58							(4)	08/16/2022	Common Shares	11,250		11,250	D
Option to Buy(2)	$7.2	05/18/2023		M			4,481	(4)	08/23/2023	Common Shares	7,197	$0	0	D
Option to Buy(2)	$6.81	05/18/2023		M			20,000	(4)	11/20/2024	Common Shares	20,000	$0	0	D
Option to Buy(2)	$9.39							(4)	07/01/2025	Common Shares	15,000		15,000	D
Option to Buy(2)	$11.06							(4)	07/01/2026	Common Shares	10,000		10,000	D
Option to Buy(2)	$5.92							(3)	08/17/2027	Common Shares	18,000		18,000	D
Option to Buy(2)	$6.8							(3)	08/19/2030	Common Shares	13,096		13,096	D

Explanation of Responses:

1. Common Shares held in the LSI Industries Inc. Non-Qualified Deferred Compensation Plan.

2. These holdings have been previously reported on Form 4.

3. The options vest ratably over a three year time period.

4. The option vests at a rate of 25% per year beginning on the one year anniversary of the date of grant.

	/s/ F. Mark Reuter as Attorney-in-Fact on behalf of Jeffery S. Bastian	05/18/2023
	** 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).
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