Modsys International Ltd Form 4 Filed 2016-02-19

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 ^*

Crynes Brian

2. Issuer Name and Ticker or Trading Symbol
Modsys International Ltd [MDSY]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

600 UNIVERSITY STREET, SUITE 2409

3. Date of Earliest Transaction (Month/Day/Year)
01/06/2014

(Street)

SEATTLE, WA 98101

(City)

(State)

(Zip)

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check applicable line)

__X__ Form Filed by One Reporting Person
_____ Form Filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock-Restricted Stock Units	01/06/2014		M		833	A	$4.59	13,329	D
Common Stock-Restricted Stock Units	02/06/2014		M		833	A	$4.54	14,162	D
Common Stock-Restricted Stock Units	03/06/2014		M		833	A	$4.48	14,995	D
Common Stock-Restricted Stock Units	04/06/2014		M		833	A	$4.31	15,828	D
Common Stock-Restricted Stock Units	05/06/2014		M		833	A	$4.19	16,661	D
Common Stock-Restricted Stock Units	06/06/2014		M		833	A	$4.14	17,494	D
Common Stock-Restricted Stock Units	07/06/2014		M		833	A	$4.02	18,327	D
Common Stock-Restricted Stock Units	08/06/2014		M		833	A	$4.05	19,160	D
Common Stock-Restricted Stock Units	09/06/2014		M		833	A	$3.77	19,993	D
Common Stock-Restricted Stock Units	10/06/2014		M		834	A	$3.68	20,826	D
Common Stock-Restricted Stock Units	11/06/2014		M		834	A	$3.53	21,660	D
Common Stock-Restricted Stock Units	12/06/2014		M		834	A	$3.75	22,494	D
Common Stock-Restricted Stock Units	01/06/2015		M		834	A	$3.46	23,328	D
Common Stock-Restricted Stock Units	02/06/2015		M		834	A	$3.03	24,162	D
Common Stock-Restricted Stock Units	03/06/2015		M		834	A	$2.3	24,996	D
Common Stock-Restricted Stock Units	04/06/2015		M		834	A	$2.85	25,830	D
Common Stock-Restricted Stock Units	05/06/2015		M		834	A	$2.5	26,664	D
Common Stock-Restricted Stock Units	06/06/2015		M		834	A	$2	27,498	D
Common Stock-Restricted Stock Units	07/06/2015		M		834	A	$1.8	28,332	D
Common Stock-Restricted Stock Units	08/06/2015		M		834	A	$1.33	29,166	D
Common Stock-Restricted Stock Units	09/06/2015		M		834	A	$1.49	30,000	D

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 (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

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 (Month/Day/Year)

7. Title and Amount of Securities Underlying Derivative Security (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

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

	Signatures
	/s/Brian Crynes	02/19/2016
	** Signature of Reporting Person	Date
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