Sec Form 4 Filing - Crane Jennifer @ CROSSROADS SYSTEMS INC - 2017-07-31

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

OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5

1. Name and Address of Reporting Person Crane Jennifer 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) Chief Financial Officer (Last) (First) (Middle) 11000 N. MOPAC EXPRESSWAY 3. Date of Earliest Transaction (MM/DD/YY) 07/31/2017 (Street) AUSTIN, TX78759 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

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) 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 7,000 06/06/2017 06/06/2026 Common Stock 7,000 ( 2 ) 0 D Option (right to buy) $ 26.8 07/31/2017 D 3,000 ( 3 ) 09/17/2025 Common Stock 3,000 ( 2 ) 0 D Option (right to buy) $ 45.5906 07/31/2017 D 3,005 ( 4 ) 01/17/2024 Common Stock 3,005 ( 2 ) 0 D Option (right to buy) $ 45.757 07/31/2017 D 601 ( 5 ) 10/01/2024 Common Stock 601 ( 2 ) 0 D Option (right to buy) $ 79.0349 07/31/2017 D 751 10/17/2015 10/17/2021 Common Stock 751 ( 2 ) 0 D Option (right to buy) $ 25.9567 07/31/2017 D 376 08/25/2012 08/25/2020 Common Stock 376 ( 2 ) 0 D Option (right to buy) $ 25.9567 07/31/2017 D 376 08/25/2014 08/25/2020 Common Stock 376 ( 2 ) 0 D Common Stock Warrant (right to buy) $ 40 07/31/2017 D 43 09/28/2013 03/28/2018 Common Stock 43 ( 2 ) 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Crane Jennifer 11000 N. MOPAC EXPRESSWAY AUSTIN, TX78759 Chief Financial Officer Signatures /s/ Jennifer Crane 08/04/2017 Signature of Reporting Person Date

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 January 17, 2018. ( 5 )The option vests quarterly over a four year period until fully vested on October 1, 2018.

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).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.