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     <!-- Control Number: 012415                                                           -->
     <!-- Rev Number:     1.0                                                              -->
     <!-- Client Name:    Insignia Systems, Inc.                                           -->
     <!-- Project Name:   Form S-8                                                         -->
     <!-- Firm Name:      Prepared by AFPI EDGAR Plus                                      -->
     <TITLE>Insignia Systems, Inc. Form S-8</TITLE>
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<P><FONT SIZE="2">As filed with the Securities and Exchange Commission on July 16, 2001 </FONT></P>

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<TD WIDTH=72%>&nbsp;</TD>
<TD WIDTH=28%><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Registration
No. 333-_______ </FONT>
</TD>
</TR>
</TABLE>

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<P ALIGN="CENTER"><FONT SIZE="2"><B>UNITED STATES<BR>SECURITIES AND EXCHANGE COMMISSION<BR>Washington, D.C. 20549</B></FONT></P>

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<P ALIGN="CENTER"><FONT SIZE="2"><B>FORM S-8</B><BR>
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE="2"><B>INSIGNIA SYSTEMS, INC.</B><BR>
(Exact name of registrant as specified in its charter)</FONT></P>

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<TR VALIGN="BOTTOM">
     <TD WIDTH="51%" ALIGN="CENTER"><FONT SIZE="-1"><B>Minnesota</B></FONT></TD>
     <TD WIDTH="48%" ALIGN="CENTER"><FONT SIZE="-1"><B>41-1656308</B></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="CENTER"><FONT SIZE="-1">(State or other jurisdiction of</FONT></TD>
     <TD ALIGN="CENTER"><FONT SIZE="-1">(I.R.S. Employer</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="CENTER"><FONT SIZE="-1">incorporation or organization)</FONT></TD>
     <TD ALIGN="CENTER"><FONT SIZE="-1">Identification No.)</FONT></TD></TR>
</TABLE>

<P ALIGN="CENTER"><FONT SIZE="2"><B>5025 Cheshire Lane<BR>Plymouth, MN 55446</B><BR>
(Address of Principal Executive Offices and zip code)</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE="2"><B>INSIGNIA SYSTEMS, INC.<BR>1990 STOCK PLAN<BR></B>
(Full title of the Plan)</FONT></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TD WIDTH="51%" ALIGN="CENTER"><FONT SIZE="-1">Scott F. Drill</FONT></TD>
     <TD WIDTH="48%" ALIGN="CENTER"><FONT SIZE="-1">Copy to:</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="CENTER"><FONT SIZE="-1">Chief Executive Officer and President</FONT></TD>
     <TD ALIGN="CENTER"><FONT SIZE="-1">Richard D. McNeil</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="CENTER"><FONT SIZE="-1">Insignia Systems, Inc.</FONT></TD>
     <TD ALIGN="CENTER"><FONT SIZE="-1">Rebecca B. Sandberg</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="CENTER"><FONT SIZE="-1">5025 Cheshire Lane</FONT></TD>
     <TD ALIGN="CENTER"><FONT SIZE="-1">Lindquist &amp; Vennum P.L.L.P.</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="CENTER"><FONT SIZE="-1">Plymouth, MN 55446</FONT></TD>
     <TD ALIGN="CENTER"><FONT SIZE="-1">4200 IDS Center</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="CENTER"><FONT SIZE="-1">(612) 392-6200</FONT></TD>
     <TD ALIGN="CENTER"><FONT SIZE="-1">80 South Eighth Street</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="CENTER"><FONT SIZE="-1">(Name, address, including zip code and</FONT></TD>
     <TD ALIGN="CENTER"><FONT SIZE="-1">Minneapolis, MN 55402</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="CENTER"><FONT SIZE="-1">telephone number of agent for service)</FONT></TD>
     <TD ALIGN="CENTER"><FONT SIZE="-1">(612) 371-3211</FONT></TD></TR>
</TABLE>

<P ALIGN="CENTER"><FONT SIZE="2"><B>CALCULATION OF REGISTRATION FEE</B></FONT></P>

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<TR>
     <TD COLSPAN="5"><HR NOSHADE COLOR="Black" SIZE="1"></TD></TR>
<TR VALIGN="BOTTOM">
     <TH  ALIGN="CENTER"><FONT SIZE="-2">Title of<BR>Securities<BR>to be<BR>Registered</FONT></TH>
     <TH><FONT SIZE="-2">Proposed<BR>Maximum<BR>Amount<BR>to be<BR>Registered</FONT></TH>
     <TH><FONT SIZE="-2">Proposed<BR>Maximum<BR>Offering<BR>Price<BR>Per Share(1)</FONT></TH>
     <TH><FONT SIZE="-2">Aggregate<BR>Offering<BR>Price(1)</FONT></TH>
     <TH><FONT SIZE="-2">Amount of<BR>Registration<BR>Fee</FONT></TH></TR>
<TR>
     <TD COLSPAN="5"><HR NOSHADE COLOR="Black" SIZE="1"></TD></TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="20%" ALIGN="CENTER"><FONT SIZE="-2">Common Stock,</FONT></TD>
     <TD WIDTH="21%" ALIGN="CENTER"><FONT SIZE="-2">500,000 shares(2)</FONT></TD>
     <TD WIDTH="21%" ALIGN="CENTER"><FONT SIZE="-2">$ 6.43(1)</FONT></TD>
     <TD WIDTH="21%" ALIGN="CENTER"><FONT SIZE="-2">$ 3,215,000</FONT></TD>
     <TD WIDTH="17%" ALIGN="CENTER"><FONT SIZE="-2">$ 804</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="CENTER"><FONT SIZE="-2">$.01 par value</FONT></TD>
     <TD ALIGN="CENTER"><FONT SIZE="-2">&nbsp;</FONT></TD>
     <TD ALIGN="CENTER"><FONT SIZE="-2">&nbsp;</FONT></TD>
     <TD ALIGN="CENTER"><FONT SIZE="-2">&nbsp;</FONT></TD>
     <TD ALIGN="CENTER"><FONT SIZE="-2">&nbsp;</FONT></TD></TR>
<TR>
     <TD COLSPAN="5"><HR NOSHADE COLOR="Black" SIZE="1"></TD></TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT SIZE="2">(1)</FONT></TD>
<TD WIDTH=95%><FONT SIZE="2">
Estimated solely for the purpose of determining the registration fee pursuant to
Rule 457(c) and (h) and based upon the closing price of the Company&#146;s
Common Stock on the Nasdaq SmallCap Market System on July 11, 2001.</FONT></TD>
</TR>
</TABLE>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE="2">(2) </FONT></TD>
<TD WIDTH=95%><FONT SIZE="2">520,000
shares were registered on Form S-8 (No. 33-47003) on April 6, 1992, 100,000 shares were
registered on Form S-8 (No. 33-92376) on May 16, 1995, 300,000 shares were registered on
Form S-8 (No. 333-43781) on January 6, 1998, 600,000 shares were registered on Form S-8
(No. 333-59709) on July 23, 1998, 250,000 shares were registered on Form S-8 (No.
333-80261) on June 9, 1999, and 200,000 shares were registered on form S-8 (No.
333-41242) on July 12, 2000.</FONT></TD>
</TR>
</TABLE>
<BR>

<P ALIGN="CENTER">&nbsp;</P>





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<P ALIGN="CENTER"><FONT SIZE="2"><B>INCORPORATION OF CONTENTS OF REGISTRATION STATEMENT<BR>
BY REFERENCE</B></FONT></P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Registration Statement on
Form S-8 (File No. 33-47003) was filed with the Securities and Exchange
Commission on April 6, 1992 covering the registration of 520,000 shares
initially authorized for issuance under the Company&#146;s 1990 Stock Plan (the
&#147;Plan&#148;). Registration Statements on Form S-8 (File Nos. 33-92376,
333-43781, 333-59706, 333-80261 and 333-41242) were filed with the Securities
and Exchange Commission on May 16, 1995, January 6, 1998, July 23, 1998, June 9,
1999, and July&nbsp;12, 2000, covering the registration of an additional
100,000, 300,000, 600,000, 250,000 and 200,000 shares, respectively, authorized
for issuance under the Plan. Pursuant to General Instruction E of Form S-8, this
Registration Statement is being filed to register the additional 500,000 shares
authorized under the Plan. An amendment to the Plan to increase the number of
shares under the Plan by 500,000 shares was authorized by the Company&#146;s
Board of Directors and was approved by the shareholders on May 17, 2001. This
Registration Statement should also be considered a post-effective amendment to
the prior Registration Statements. The contents of the prior Registration
Statements are incorporated herein by reference.</FONT></P>

<P ALIGN="CENTER"><FONT SIZE="2"><B>PART I</B></FONT></P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the Note to Part
I of Form S-8, the information required by Items 1 and 2 of Form S-8 is not
filed as a part of this Registration Statement.</FONT></P>

<P ALIGN="CENTER"><FONT SIZE="2"><B>PART II</B></FONT></P>

<P><FONT SIZE="2"><U>Item 3. Incorporation of Documents by Reference.</U></FONT> </P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed
with the Securities and Exchange Commission are hereby incorporated by reference
herein:</FONT></P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Annual Report of the Company
on Form 10-K for the year ended December 31, 2000.</FONT></P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Definitive Proxy
Statement dated April 2, 2001 for the Annual Meeting of Shareholders held on May
17, 2001.</FONT></P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Quarterly Report of the
Company on Form 10-Q for the quarter ended March 31, 2001.</FONT></P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The description of the
Company&#146;s capital stock as set forth in the Company&#146;s Form S-18
Registration Statement dated June 17, 1991 (File No. 33-40765-C), including any
amendment or report filed for the purpose of updating such description.</FONT></P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents subsequently
filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
Securities Exchange Act of 1934, prior to the filing of a post-effective
amendment which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold, shall be deemed to be
incorporated by reference in this Registration Statement and to be a part hereof
from the date of filing of such documents.</FONT></P>

<P><FONT SIZE="2"><U>Item 4. Description of Securities</U>.</FONT> </P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</FONT></P>
<BR>

<P ALIGN="CENTER"><FONT SIZE="2">-2-</FONT></P>





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<P><FONT SIZE="2"><U>Item 5. Interests of Named Experts and Counsel.</U></FONT> </P>


<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</FONT></P>

<P><FONT SIZE="2"><U>Item 6. Indemnification of Directors and Officers.</U></FONT> </P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s Bylaws
provide that the Company shall indemnify its officers, directors, committee
members and employees in accordance with, and to the fullest extent permitted
by, the provisions of the Minnesota Business Corporation Act, as it may be
amended from time to time.</FONT></P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 302A.521 of the
Minnesota Business Corporation Act provides that a corporation shall indemnify a
person made or threatened to be made a party to a proceeding by reason of the
former or present official capacity of the person against judgments, penalties,
fines, including, without limitation, excise taxes assessed against the person
with respect to an employee benefit plan, settlements, and reasonable expenses,
including attorneys&#146; fees and disbursements, incurred by the person in
connection with the proceeding, if, with respect to the acts or omissions of the
person complained of in the proceeding, the person:</FONT></P>

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<TD WIDTH=5%><FONT SIZE="2"></FONT></TD>
<TD WIDTH=5%><FONT SIZE="2">(1)</FONT></TD>
<TD WIDTH=90%><FONT SIZE="2">
Has not been indemnified by another organization or employee benefit plan for
the same judgments, penalties, fines, including, without limitation, excise
taxes assessed against the person with respect to an employee benefit plan,
settlements, and reasonable expenses, including attorneys&#146; fees and
disbursements, incurred by the person in connection with the proceeding with
respect to the same acts or omissions;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE="2"></FONT></TD>
<TD WIDTH=5%><FONT SIZE="2">(2)</FONT></TD>
<TD WIDTH=90%><FONT SIZE="2">Acted in good faith;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT SIZE="2"></FONT></TD>
<TD WIDTH=5%><FONT SIZE="2">(3)</FONT></TD>
<TD WIDTH=90%><FONT SIZE="2">Received no improper
personal benefit and section 302A.255 (Director Conflicts of Interest),
if applicable, has been satisfied;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE="2"></FONT></TD>
<TD WIDTH=5%><FONT SIZE="2">(4)</FONT></TD>
<TD WIDTH=90%><FONT SIZE="2">In the case
of a criminal proceeding, had no reasonable cause to believe the conduct was
unlawful; and</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE="2"></FONT></TD>
<TD WIDTH=5%><FONT SIZE="2">(5)</FONT></TD>
<TD WIDTH=90%><FONT SIZE="2">
In the case of acts or omissions occurring in the official capacity described in
subdivision 1, paragraph (c), clause (1) or (2), reasonably believed that the
conduct was in the best interests of the corporation, or in the case of acts or
omissions occurring in the official capacity described in subdivision 1,
paragraph (c), clause (3), reasonably believed that the conduct was not opposed
to the best interests of the corporation. If the person&#146;s acts or omissions
complained of in the proceeding relate to conduct as a director, officer,
trustee, employee, or agent of an employee benefit plan, the conduct is not
considered to be opposed to the best interests of the corporation if the person
reasonably believed that the conduct was in the best interests of the
participants or beneficiaries of the employee benefit plan.</FONT></TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE="2"><U>Item 7. Exemption from Registration Claimed.</U></FONT> </P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</FONT></P>
<BR>

<P ALIGN="CENTER"><FONT SIZE="2">-3-</FONT></P>





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<P><FONT SIZE="2"><U>Item 8. Exhibits.</U></FONT> </P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibit</FONT></P>

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<TD WIDTH=5%><FONT SIZE="2"></FONT></TD>
<TD WIDTH=5%><FONT SIZE="2">4.1</FONT></TD>
<TD WIDTH=90%><FONT SIZE="2">Insignia Systems,
Inc. 1990 Stock Plan, as amended </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE="2"></FONT></TD>
<TD WIDTH=5%><FONT SIZE="2">5.1</FONT></TD>
<TD WIDTH=90%><FONT SIZE="2">Opinion of
Lindquist &amp; Vennum P.L.L.P. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE="2"></FONT></TD>
<TD WIDTH=5%><FONT SIZE="2">23.1</FONT></TD>
<TD WIDTH=90%><FONT SIZE="2">Consent of
Lindquist &amp; Vennum (included in Exhibit 5.1)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE="2"></FONT></TD>
<TD WIDTH=5%><FONT SIZE="2">23.2</FONT></TD>
<TD WIDTH=90%><FONT SIZE="2">Consent of
Ernst &amp; Young, LLP independent public accountants </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE="2"></FONT></TD>
<TD WIDTH=5%><FONT SIZE="2">24.1</FONT></TD>
<TD WIDTH=90%><FONT SIZE="2">Power of
Attorney (set forth on the signature page hereof) </FONT></TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE="2"><U>Item 9. Undertakings.</U></FONT> </P>

<P><FONT SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;The undersigned registrant hereby undertakes:</FONT></P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any
period in which offers or sales are being made, a post-effective amendment to
this registration statement:</FONT></P>

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<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)
To include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to
such information in the registration statement. </FONT>
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of
determining any liability under the Securities Act of 1933, each such
post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.</FONT></P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from
registration by means of a post-effective amendment any of the securities being
registered which remain unsold at the termination of the offering.</FONT></P>

<P><FONT SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;The undersigned registrant hereby undertakes that, for
purposes of determining any liability under the Securities Act of 1933, each
filing of the registrant&#146;s annual report pursuant to Section 13(a) or
Section 15(d) of the Securities Exchange Act of 1934 that is incorporated by
reference in the registration statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof. </FONT></P>

<P><FONT SIZE="2">(h)&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers, and controlling
persons of the registrant pursuant to the foregoing provisions, or otherwise,
the registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer, or controlling
person of the registrant in the successful defense of any action, suit, or
proceeding) is asserted by such director, officer, or controlling person
connected with the securities being registered, the registrant will, unless in
the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Act and will
be governed by the final adjudication of such issue. </FONT></P>
<BR><BR>

<P ALIGN="CENTER"><FONT SIZE="2">-4-</FONT></P>




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<P ALIGN="CENTER"><FONT SIZE="2"><B>SIGNATURES</B></FONT></P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements
of the Securities Act of 1933, the registrant certifies that it has reasonable
grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this registration statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Minneapolis, State of
Minnesota, on July 16, 2001.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TD WIDTH="50%" ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD>
     <TD WIDTH="50%" ALIGN="LEFT"><FONT SIZE="-1">INSIGNIA SYSTEMS, INC.</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">By <U>/s/ Scott F. Drill</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Scott F. Drill, President and Chief Executive Officer</FONT></TD></TR>
</TABLE>

<P ALIGN="CENTER"><FONT SIZE="2"><B>POWER OF ATTORNEY</B></FONT></P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned officers and
directors of Insignia Systems, Inc. hereby constitute and appoint Scott Drill
and John Whisnant, or either of them, with power to act one without the other,
our true and lawful attorney-in-fact and agent, with full power of substitution
and resubstitution, for us and in our stead, in any and all capacities to sign
any and all amendments (including post-effective amendments) to this
Registration Statement and all documents relating thereto, and to file the same,
with all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, granting unto said attorney-in-fact and
agent, full power and authority to do and perform each and every act and thing
necessary or advisable to be done in and about the premises, as fully to all
intents and purposes as he might or could do in person, hereby ratifying and
confirming all that said attorney-in-fact and agent, or his substitutes, may
lawfully do or cause to be done by virtue hereof.</FONT></P>

<P><FONT SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements
of the Securities Act of 1933, as amended, this registration statement has been
signed below by the following persons in the capacities indicated on the 16th
day of July, 2001.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TH ALIGN="LEFT"><FONT SIZE="-1"><U>Signature</U></FONT></TH>
     <TH ALIGN="LEFT"><FONT SIZE="-1"><U>Title</U></FONT></TH></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1"><U>/s/ Scott F. Drill</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">President and Chief Executive</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">Scott F. Drill</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">Officer (principal executive officer)</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1"><U>/s/ John R. Whisnant</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">Vice President of Finance, Chief Financial Officer</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">John R. Whisnant</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">(principal financial officer) and Secretary</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1"><U>/s/ Gary L. Vars</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">Chairman, Executive Vice President and</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">Gary L. Vars</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">General Manager POPS Division</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="34%" ALIGN="LEFT"><FONT SIZE="-1"><U>/s/ G.L. Hoffman</U></FONT></TD>
     <TD WIDTH="66%" ALIGN="LEFT"><FONT SIZE="-1">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">G.L. Hoffman</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1"><U>/s/ Erwin A. Kelen</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">Erwin A. Kelen</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1"><U>/s/ W. Robert Ramsdell</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">W. Robert Ramsdell</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1"><U>/s/ Gordon F. Stofer</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">Gordon F. Stofer</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1"><U>/s/ Frank D. Trestman</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT SIZE="-1">Frank D. Trestman</FONT></TD>
     <TD ALIGN="LEFT"><FONT SIZE="-1">&nbsp;</FONT></TD></TR>
</TABLE>

</BODY>
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Insignia Systems, Inc. Form S-8
As filed with the Securities and Exchange Commission on July 16, 2001
Registration
No. 333-_______
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
INSIGNIA SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Minnesota
41-1656308
(State or other jurisdiction of
(I.R.S. Employer
incorporation or organization)
Identification No.)
5025 Cheshire Lane
Plymouth, MN 55446
(Address of Principal Executive Offices and zip code)
INSIGNIA SYSTEMS, INC.
1990 STOCK PLAN
(Full title of the Plan)
Scott F. Drill
Copy to:
Chief Executive Officer and President
Richard D. McNeil
Insignia Systems, Inc.
Rebecca B. Sandberg
5025 Cheshire Lane
Lindquist & Vennum P.L.L.P.
Plymouth, MN 55446
4200 IDS Center
(612) 392-6200
80 South Eighth Street
(Name, address, including zip code and
Minneapolis, MN 55402
telephone number of agent for service)
(612) 371-3211
CALCULATION OF REGISTRATION FEE
Title of
Securities
to be
Registered
Proposed
Maximum
Amount
to be
Registered
Proposed
Maximum
Offering
Price
Per Share(1)
Aggregate
Offering
Price(1)
Amount of
Registration
Fee
Common Stock,
500,000 shares(2)
$ 6.43(1)
$ 3,215,000
$ 804
$.01 par value
(1)
Estimated solely for the purpose of determining the registration fee pursuant to
Rule 457(c) and (h) and based upon the closing price of the Company's
Common Stock on the Nasdaq SmallCap Market System on July 11, 2001.
(2)
520,000
shares were registered on Form S-8 (No. 33-47003) on April 6, 1992, 100,000 shares were
registered on Form S-8 (No. 33-92376) on May 16, 1995, 300,000 shares were registered on
Form S-8 (No. 333-43781) on January 6, 1998, 600,000 shares were registered on Form S-8
(No. 333-59709) on July 23, 1998, 250,000 shares were registered on Form S-8 (No.
333-80261) on June 9, 1999, and 200,000 shares were registered on form S-8 (No.
333-41242) on July 12, 2000.
INCORPORATION OF CONTENTS OF REGISTRATION STATEMENT
BY REFERENCE
A Registration Statement on
Form S-8 (File No. 33-47003) was filed with the Securities and Exchange
Commission on April 6, 1992 covering the registration of 520,000 shares
initially authorized for issuance under the Company's 1990 Stock Plan (the
"Plan"). Registration Statements on Form S-8 (File Nos. 33-92376,
333-43781, 333-59706, 333-80261 and 333-41242) were filed with the Securities
and Exchange Commission on May 16, 1995, January 6, 1998, July 23, 1998, June 9,
1999, and July 12, 2000, covering the registration of an additional
100,000, 300,000, 600,000, 250,000 and 200,000 shares, respectively, authorized
for issuance under the Plan. Pursuant to General Instruction E of Form S-8, this
Registration Statement is being filed to register the additional 500,000 shares
authorized under the Plan. An amendment to the Plan to increase the number of
shares under the Plan by 500,000 shares was authorized by the Company's
Board of Directors and was approved by the shareholders on May 17, 2001. This
Registration Statement should also be considered a post-effective amendment to
the prior Registration Statements. The contents of the prior Registration
Statements are incorporated herein by reference.
PART I
Pursuant to the Note to Part
I of Form S-8, the information required by Items 1 and 2 of Form S-8 is not
filed as a part of this Registration Statement.
PART II
Item 3. Incorporation of Documents by Reference.
The following documents filed
with the Securities and Exchange Commission are hereby incorporated by reference
herein:
(a) The Annual Report of the Company
on Form 10-K for the year ended December 31, 2000.
(b) The Definitive Proxy
Statement dated April 2, 2001 for the Annual Meeting of Shareholders held on May
17, 2001.
(c) The Quarterly Report of the
Company on Form 10-Q for the quarter ended March 31, 2001.
(d) The description of the
Company's capital stock as set forth in the Company's Form S-18
Registration Statement dated June 17, 1991 (File No. 33-40765-C), including any
amendment or report filed for the purpose of updating such description.
All documents subsequently
filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
Securities Exchange Act of 1934, prior to the filing of a post-effective
amendment which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold, shall be deemed to be
incorporated by reference in this Registration Statement and to be a part hereof
from the date of filing of such documents.
Item 4. Description of Securities
.
Not applicable.
-2-
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
The Company's Bylaws
provide that the Company shall indemnify its officers, directors, committee
members and employees in accordance with, and to the fullest extent permitted
by, the provisions of the Minnesota Business Corporation Act, as it may be
amended from time to time.
Section 302A.521 of the
Minnesota Business Corporation Act provides that a corporation shall indemnify a
person made or threatened to be made a party to a proceeding by reason of the
former or present official capacity of the person against judgments, penalties,
fines, including, without limitation, excise taxes assessed against the person
with respect to an employee benefit plan, settlements, and reasonable expenses,
including attorneys' fees and disbursements, incurred by the person in
connection with the proceeding, if, with respect to the acts or omissions of the
person complained of in the proceeding, the person:
(1)
Has not been indemnified by another organization or employee benefit plan for
the same judgments, penalties, fines, including, without limitation, excise
taxes assessed against the person with respect to an employee benefit plan,
settlements, and reasonable expenses, including attorneys' fees and
disbursements, incurred by the person in connection with the proceeding with
respect to the same acts or omissions;
(2)
Acted in good faith;
(3)
Received no improper
personal benefit and section 302A.255 (Director Conflicts of Interest),
if applicable, has been satisfied;
(4)
In the case
of a criminal proceeding, had no reasonable cause to believe the conduct was
unlawful; and
(5)
In the case of acts or omissions occurring in the official capacity described in
subdivision 1, paragraph (c), clause (1) or (2), reasonably believed that the
conduct was in the best interests of the corporation, or in the case of acts or
omissions occurring in the official capacity described in subdivision 1,
paragraph (c), clause (3), reasonably believed that the conduct was not opposed
to the best interests of the corporation. If the person's acts or omissions
complained of in the proceeding relate to conduct as a director, officer,
trustee, employee, or agent of an employee benefit plan, the conduct is not
considered to be opposed to the best interests of the corporation if the person
reasonably believed that the conduct was in the best interests of the
participants or beneficiaries of the employee benefit plan.
Item 7. Exemption from Registration Claimed.
Not applicable.
-3-
Item 8. Exhibits.
Exhibit
4.1
Insignia Systems,
Inc. 1990 Stock Plan, as amended
5.1
Opinion of
Lindquist & Vennum P.L.L.P.
23.1
Consent of
Lindquist & Vennum (included in Exhibit 5.1)
23.2
Consent of
Ernst & Young, LLP independent public accountants
24.1
Power of
Attorney (set forth on the signature page hereof)
Item 9. Undertakings.
(a)    The undersigned registrant hereby undertakes:
(1) To file, during any
period in which offers or sales are being made, a post-effective amendment to
this registration statement:
(iii)
To include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to
such information in the registration statement.
(2) That, for the purpose of
determining any liability under the Securities Act of 1933, each such
post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
(3) To remove from
registration by means of a post-effective amendment any of the securities being
registered which remain unsold at the termination of the offering.
(b)    The undersigned registrant hereby undertakes that, for
purposes of determining any liability under the Securities Act of 1933, each
filing of the registrant's annual report pursuant to Section 13(a) or
Section 15(d) of the Securities Exchange Act of 1934 that is incorporated by
reference in the registration statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof.
(h)    Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers, and controlling
persons of the registrant pursuant to the foregoing provisions, or otherwise,
the registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer, or controlling
person of the registrant in the successful defense of any action, suit, or
proceeding) is asserted by such director, officer, or controlling person
connected with the securities being registered, the registrant will, unless in
the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Act and will
be governed by the final adjudication of such issue.
-4-
SIGNATURES
Pursuant to the requirements
of the Securities Act of 1933, the registrant certifies that it has reasonable
grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this registration statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Minneapolis, State of
Minnesota, on July 16, 2001.
INSIGNIA SYSTEMS, INC.
By
/s/ Scott F. Drill
Scott F. Drill, President and Chief Executive Officer
POWER OF ATTORNEY
The undersigned officers and
directors of Insignia Systems, Inc. hereby constitute and appoint Scott Drill
and John Whisnant, or either of them, with power to act one without the other,
our true and lawful attorney-in-fact and agent, with full power of substitution
and resubstitution, for us and in our stead, in any and all capacities to sign
any and all amendments (including post-effective amendments) to this
Registration Statement and all documents relating thereto, and to file the same,
with all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, granting unto said attorney-in-fact and
agent, full power and authority to do and perform each and every act and thing
necessary or advisable to be done in and about the premises, as fully to all
intents and purposes as he might or could do in person, hereby ratifying and
confirming all that said attorney-in-fact and agent, or his substitutes, may
lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements
of the Securities Act of 1933, as amended, this registration statement has been
signed below by the following persons in the capacities indicated on the 16th
day of July, 2001.
Signature
Title
/s/ Scott F. Drill
President and Chief Executive
Scott F. Drill
Officer (principal executive officer)
/s/ John R. Whisnant
Vice President of Finance, Chief Financial Officer
John R. Whisnant
(principal financial officer) and Secretary
/s/ Gary L. Vars
Chairman, Executive Vice President and
Gary L. Vars
General Manager POPS Division
/s/ G.L. Hoffman
Director
G.L. Hoffman
/s/ Erwin A. Kelen
Director
Erwin A. Kelen
/s/ W. Robert Ramsdell
Director
W. Robert Ramsdell
/s/ Gordon F. Stofer
Director
Gordon F. Stofer
/s/ Frank D. Trestman
Director
Frank D. Trestman