Sec Form 4 Filing - BURNS TIMOTHY @ Ideal Power Inc. - 2019-04-04

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 BURNS TIMOTHY 2. Issuer Name and Ticker or Trading Symbol Ideal Power Inc. [ IPWR] 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) 4120 FREIDRICH LANE, SUITE 100 3. Date of Earliest Transaction (MM/DD/YY) 04/04/2019 (Street) AUSTIN, TX78744 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 to Purchase Stock ( 1 ) $ 5 04/04/2019 D( 6 ) 30,000 ( 3 ) 11/21/2023 Common Stock 30,000 $ 0 0 D Option to Purchase Stock ( 1 ) $ 7.84 04/04/2019 D( 6 ) 125,000 ( 4 ) 09/16/2024 Common Stock 125,000 $ 0 0 D Performance Stock Unit ( 2 ) $ 7.92 04/04/2019 D( 6 ) 44,000 ( 5 ) 01/05/2020 Common Stock 44,000 $ 0 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other BURNS TIMOTHY 4120 FREIDRICH LANE SUITE 100 AUSTIN, TX78744 Chief Financial Officer Signatures /s/ Timothy Burns 04/04/2019 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The option was issued from the Ideal Power Inc. (formerly known as Ideal Power Converters, Inc.) Amended & Restated 2013 Equity Incentive Plan, as in existence on the date of grant. ( 2 )Each performance stock unit ("PSU") represents a contingent right to one share of the Issuer's common stock. ( 3 )The right to purchase the common stock vests in equal increments over 4 years on the anniversary of the grant date. ( 4 )The right to purchase the common stock vests in equal increments over 4 years on the anniversary of the grant date. ( 5 )PSUs vest based on the satisfaction of certain stock-price based performance targets and the completion of a 4 year service period. ( 6 )Derivative security voluntarily forfeited pursuant to an Award Forfeiture Agreement, dated April 4, 2019.

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.