SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)
COMMUNICATIONS SYSTEMS, INC.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
203900 10 5
(CUSIP Number)
Check the following box if a fee is being paid with this statement . (A fee is
not required only if he filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Continued on following page(s))
Page 1 of 3 Pages
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CUSIP NO.203900 10 5 13G Page 2 of 3 Pages
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NAME OF REPORTING PERSON
1 S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Paul N. Hanson
###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
----
N/A (b)
----
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
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5 SOLE VOTING POWER
97,420
NUMBER OF
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SHARES 6 SHARED VOTING POWER
BENEFICIALLY 362,001
OWNED BY
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EACH 7 SOLE DISPOSITIVE POWER
REPORTING 97,420
PERSON
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WITH 8 SHARED DISPOSITIVE POWER
362,001
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
459,421
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXLCUDES CERTAIN SHARES
N/A
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.04%
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12 TYPE OF REPORTING PERSON*
IN
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2
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Page 3 of 3 Pages
The undersigned hereby amends Item 4 of his Schedule 13G relating to the
common stock of Communications Systems, Inc., so as to read as follows:
ITEM 4. OWNERSHIP
The following ownership of Paul N. Hanson as of December 31, 1996 in the
common stock of Communications Systems, Inc. was as follows:
(a) Amount Beneficially Owned 459,421
(b) Percent of Voting Shares Outstanding 5.04%
(c) Number of shares as to which person has:
(i) Sole power to vote or direct the vote: 97,420
(ii) Shared power to vote or direct the vote: 362,001
(iii) Sole power to dispose or direct the disposition of: 97,420
(iv) Shared power to dispose or direct the disposition of: 362,001
The shares listed above include 45,420 shares owned by Mr. Hanson directly,
52,000 shares issuable upon exercise of currently exercisable stock options,
1,411 shares owned by Mr. Hanson's wife, 339,441 shares owned by the
Communications Systems, Inc. Employee Stock Ownership Plan ("CSI ESOP") of which
Mr. Hanson is a trustee and 21,149 shares owned by the Hector Communications
Corporation Employee Stock Ownership Plan of which Mr. Hanson is a trustee
("Hector ESOP"). Mr. Hanson disclaims any beneficial ownership of the shares
owned by his wife and disclaims any beneficial ownership of the shares owned by
the CSI and Hector ESOP's in excess of the shares allocated to his account,
which totaled 8,599 at December 31, 1996.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: February 11, 1997
/s/ Paul N. Hanson
Paul N. Hanson
