Sec Form 4 Filing - HOOD MARK C @ 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 HOOD MARK C 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) Executive Vice President (Last) (First) (Middle) C/O CROSSROADS SYSTEMS, INC., 11000 N. MOPAC EXPRESSWAY #150 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 8,750 06/06/2017 06/06/2026 Common Stock 8,750 ( 2 ) 0 D Option (right to buy) $ 26.8 07/31/2017 D 1,000 ( 3 ) 09/17/2025 Common Stock 1,000 ( 2 ) 0 D Option (right to buy) $ 26.8 07/31/2017 D 2,000 ( 3 ) 09/17/2025 Common Stock 2,000 ( 2 ) 0 D Option (right to buy) $ 45.757 07/31/2017 D 5,409 ( 4 ) 10/01/2024 Common Stock 5,409 ( 2 ) 0 D Option (right to buy) $ 34.9417 07/31/2017 D 3,005 06/13/2015 06/13/2023 Common Stock 3,005 ( 2 ) 0 D Option (right to buy) $ 36.9384 07/31/2017 D 1,803 01/31/2017 01/31/2023 Common Stock 1,803 ( 2 ) 0 D Option (right to buy) $ 49.0848 07/31/2017 D 601 12/12/2012 12/12/2022 Common Stock 601 ( 2 ) 0 D Common Stock Warrant (right to buy) $ 55.2 07/31/2017 D 6,532 07/30/2015 01/30/2020 Common Stock 6,532 ( 2 ) 0 I By: MCH Advisors, Inc. ( 5 )

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other HOOD MARK C C/O CROSSROADS SYSTEMS, INC. 11000 N. MOPAC EXPRESSWAY #150 AUSTIN, TX78759 Executive Vice President Signatures /s/ Jennifer Crane, Attorney-in-Fact 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 October 1, 2018. ( 5 )These securities are held by MCH Advisors, Inc. ("MCH"). The Reporting Person is the sole shareholder of MCH and shares voting and dispositive power over the shares held by MCH. The Reporting Person disclaims beneficial ownership of the securities held by MCH except to the extent of his pecuniary interest there.

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.