Sec Form 4 Filing - BELL LON E @ 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

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1. Name and Address of Reporting Person BELL LON E 2. Issuer Name and Ticker or Trading Symbol Ideal Power Inc. [ IPWR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) CEO and President (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 ) $ 5.49 04/04/2019 D( 6 ) 12,742 ( 2 ) 01/02/2024 Common Stock 12,742 $ 0 0 D Option to Purchase Stock ( 1 ) $ 7.32 04/04/2019 D( 6 ) 12,834 ( 3 ) 01/02/2025 Common Stock 12,834 $ 0 0 D Option to Purchase Stock ( 1 ) $ 7.94 04/04/2019 D( 6 ) 12,646 ( 4 ) 01/04/2026 Common Stock 12,646 $ 0 0 D Option to Purchase Stock ( 1 ) $ 3.15 04/04/2019 D( 6 ) 27,875 ( 5 ) 01/03/2027 Common Stock 27,875 $ 0 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other BELL LON E 4120 FREIDRICH LANE SUITE 100 AUSTIN, TX78744 X CEO and President Signatures /s/ Lon E. Bell 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 )The right to purchase the common stock vests as follows: the right to purchase 3,185 shares of common stock vests on March 31, 2014; the right to purchase 3,186 shares of common stock vests on June 30, 2014; the right to purchase 3,185 shares of common stock vests on September 30, 2014; and the right to purchase 3,186 shares vests on December 31, 2014. ( 3 )The right to purchase the common stock vests as follows: the right to purchase 3,208 shares of common stock vests on March 31, 2015; the right to purchase 3,209 shares of common stock vests on June 30, 2015; the right to purchase 3,208 shares of common stock vests on September 30, 2015; and the right to purchase 3,209 shares vests on December 31, 2015. ( 4 )The right to purchase the common stock vests as follows: the right to purchase 3,161 shares of common stock vests on March 31, 2016; the right to purchase 3,162 shares of common stock vests on June 30, 2016; the right to purchase 3,161 shares of common stock vests on September 30, 2016; and the right to purchase 3,162 shares vests on December 31, 2016. ( 5 )The right to purchase the common stock vests as follows: the right to purchase 6,968 shares of common stock vests on March 31, 2017; the right to purchase 6,969 shares of common stock vests on June 30, 2017; the right to purchase 6,969 shares of common stock vests on September 30, 2017; and the right to purchase 6,969 shares vests on December 31, 2017. ( 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).

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