Sec Form 4 Filing - SHERMAN JENNIFER L @ FEDERAL SIGNAL CORP /DE/ - 2021-03-03

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 SHERMAN JENNIFER L 2. Issuer Name and Ticker or Trading Symbol FEDERAL SIGNAL CORP /DE/ [ FSS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) President & CEO (Last) (First) (Middle) 1415 W. 22ND STREET, SUITE 1100 3. Date of Earliest Transaction (MM/DD/YY) 03/03/2021 (Street) OAK BROOK, IL60523 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 03/03/2021 A 72,471 A $ 0 409,034.1434 ( 1 ) D Common Stock 03/03/2021 F 32,098 D $ 37.98 376,936.1434 D Common Stock 03/03/2021 M 68,681 A $ 5.5 445,617.1434 D Common Stock 03/03/2021 S 68,681 D $ 38.1816 ( 2 ) 376,936.1434 D Common Stock 03/03/2021 M 44,078 A $ 8.4 421,014.1434 D Common Stock 03/03/2021 S 44,078 D $ 38.1816 ( 2 ) 376,936.1434 D Common Stock 03/04/2021 M 6,478 A $ 8.4 383,414.1434 D Common Stock 03/04/2021 S 6,478 D $ 37.5916 ( 2 ) 376,936.1434 D Common Stock 03/04/2021 M 118,485 A $ 12.66 495,421.1434 D Common Stock 03/04/2021 S 49,460 D $ 37.5916 ( 2 ) 445,961.1434 D Common Stock 03/04/2021 S 69,025 D $ 36.8866 ( 3 ) 376,936.1434 D Common Stock 03/05/2021 M 33,031 A $ 14.48 409,967.1434 D Common Stock 03/05/2021 S 33,031 D $ 36.6243 ( 4 ) 376,936.1434 D Common Stock 03/05/2021 M 32,000 A $ 16.09 408,936.1434 D Common Stock 03/05/2021 S 32,000 D $ 36.2513 ( 5 ) 376,936.1434 D Common Stock 57,124.3 ( 6 ) I held by 401(k) plan

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 Stock Option (right-to-buy) $ 5.5 03/03/2021 M 68,681 ( 7 ) 05/09/2022 Common Stock 68,681 $ 0 0 D Stock Option (right-to-buy) $ 8.4 03/03/2021 M 44,078 ( 8 ) 05/09/2023 Common Stock 44,078 $ 0 6,478 D Stock Option (right-to-buy) $ 8.4 03/04/2021 M 6,478 ( 8 ) 05/09/2023 Common Stock 6,478 $ 0 0 D Stock Option (right-to-buy) $ 12.66 03/04/2021 M 118,485 ( 9 ) 05/05/2026 Common Stock 118,485 $ 0 59,242 D Stock Option (right-to-buy) $ 14.48 03/05/2021 M 33,031 ( 10 ) 05/05/2024 Common Stock 33,031 $ 0 0 D Stock Option (right-to-buy) $ 16.09 03/05/2021 M 32,000 ( 11 ) 04/10/2025 Common Stock 32,000 $ 0 12,935 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other SHERMAN JENNIFER L 1415 W. 22ND STREET SUITE 1100 OAK BROOK, IL60523 X President & CEO Signatures Daniel A. DuPre, attorney-in-fact for Jennifer L. Sherman 03/05/2021 Signature of Reporting Person Date

Explanation of Responses:

( 1 )2571.5677 shares were acquired through the dividend reinvestment plan. ( 2 )This transaction was executed in multiple trades; the price reported above reflects the weighted average sale price. ( 3 )This transaction was executed in multiple trades at prices ranging from $36.70 to $37.25; the price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC, Federal Signal Corporation or a security holder of Federal Signal Corporation. ( 4 )This transaction was executed in multiple trades at prices ranging from $36.40 to $37.10; the price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request of the SEC, Federal Signal Corporation or a security holder of Federal Signal Corporation. ( 5 )This transaction was executed in multiple trades at prices ranging from $36.25 to $36.37; the price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC, Federal Signal Corporation or a security holder of Federal Signal Corporation. ( 6 )773.3 additional shares were acquired through the Company's 401(k) Savings Plan. ( 7 )The option vested in three equal installments on May 9, 2013, 2014 and 2015. ( 8 )The option vested in three equal installments on May 9, 2014, 2015, and 2016. ( 9 )The options exercised vested on May 5, 2017 and May 5, 2018. The remaining 59,242 options vested on May 5, 2019. ( 10 )The option vested in three equal installments on May 5, 2015, 2016, and 2017. ( 11 )The option vested in three equal installments on April 10, 2016, 2017, and 2018.

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