Sec Form 4 Filing - TAYLOR TODD R. @ IMPAC MORTGAGE HOLDINGS INC - 2015-06-02

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person TAYLOR TODD R. 2. Issuer Name and Ticker or Trading Symbol IMPAC MORTGAGE HOLDINGS INC [ IMH] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chief Financial Officer (Last) (First) (Middle) 19500 JAMBOREE ROAD 3. Date of Earliest Transaction (MM/DD/YY) 06/02/2015 (Street) IRVINE, CA92612 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 Stock 358 I 401K Common Stock 06/02/2015 M 20,000 A $ 2.73 25,000 D Common Stock 06/02/2015 S 22,500 D $ 17.29 ( 1 ) 2,500 D Common Stock 06/03/2015 S 2,500 D $ 19.35 ( 2 ) 0 D

11. Nature of Indirect Beneficial Ownership (Instr. 4) 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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Incentive Stock Option (right to buy) $ 0.53 06/09/2010( 3 ) 06/09/2019 Common Stock 10,000 10,000 D Non Qualified Stock Option (right to buy) $ 2.73 06/02/2015 M 20,000 12/03/2011( 3 ) 12/03/2020 Common Stock 20,000 $ 0 0 D Non Qualified Stock option (right to buy) $ 13.81 11/27/2013( 3 ) 11/27/2022 Common Stock 24,000 24,000 D Non Qualified Stock option (right to buy) $ 10.65 07/23/2014( 4 ) 07/23/2023 Common Stock 22,000 22,000 D Non Qualified Stock option (right to buy) $ 5.39 07/22/2015( 5 ) 07/22/2024 Common Stock 29,000 29,000 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other TAYLOR TODD R. 19500 JAMBOREE ROAD IRVINE, CA92612 Chief Financial Officer Signatures Todd R. Taylor 06/04/2015 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.28 to $17.81. The reporting person undertakes to provide to Impac Mortgage Holdings, Inc., any security holder of Impac, or staff of the Securities and Exchange Commission, upon receipt, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) of this form 4. ( 2 )The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.24 to $19.54. The reporting person undertakes to provide to Impac Mortgage Holdings, Inc., any security holder of Impac, or staff of the Securities and Exchange Commission, upon receipt, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) of this form 4. ( 3 )These options are fully vested. ( 4 )The awards vest annually in 1/3 increments beginning on July 23, 2014. ( 5 )The awards vest annually in 1/3 increments beginning on July 22, 2015.

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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