Edgar Filing: GAGNON NEIL

Ownership Submission

FORM 5

	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
	Form 3 Holdings Reported
	Form 4 Transactions Reported

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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:

3235-0362

Expires:

January 31, 2005

Estimated average burden hours per response...

1.0

1. Name and Address of Reporting Person ^*

GAGNON NEIL

2. Issuer Name and Ticker or Trading Symbol
NTS, INC. [NTS]

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

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

(Last)

(First)

(Middle)

1370 AVENUE OF THE AMERICAS,Â 24TH FLOOR

3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2011

(Street)

NEW YORK,Â NYÂ 10019

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

6. Individual or Joint/Group Reporting
(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 (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 at end of Issuer's Fiscal Year (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)	3. Transaction Code (Instr. 8)	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	04/29/2008	Â	P4	1,210	A	$ 2.9948	0 ⁽¹⁾	D	Â
Common Stock	04/29/2008	Â	S4	935	A	$ 3.04	0 ⁽¹⁾	I	By self as Trustee of Gagnon Securiites LLC Profit Sharing Plan
Common Stock	05/01/2008	Â	P4	2,000	A	$ 3.0938	0 ⁽¹⁾	D	Â
Common Stock	05/01/2008	Â	P4	2,126	A	$ 3.0938	0 ⁽¹⁾	D	Â
Common Stock	05/06/2008	Â	P4	600	A	$ 3.0967	0 ⁽¹⁾	I	By self as Trustee of Gagnon Securiites LLC Profit Sharing Plan
Common Stock	05/07/2008	Â	P4	1,075	A	$ 3.1	0 ⁽¹⁾	D	Â
Common Stock	05/07/2008	Â	P4	3,030	A	$ 3.1	0 ⁽¹⁾	D	Â
Common Stock	05/07/2008	Â	P4	610	A	$ 3.1	0 ⁽¹⁾	I	By self as Trustee of Gagnon Securiites LLC Profit Sharing Plan
Common Stock	05/14/2008	Â	S4	500	D	$ 3	0 ⁽¹⁾	D	Â
Common Stock	05/15/2008	Â	S4	6,700	D	$ 2.9075	0 ⁽¹⁾	I	By Limited Partner in Atkinson Investment Management
Common Stock	05/16/2008	Â	S4	10,156	D	$ 3.0505	0 ⁽¹⁾	I	By Limited Partner in Atkinson Investment Management
Common Stock	05/19/2008	Â	S4	400	D	$ 3.115	0 ⁽¹⁾	I	By Limited Partner in Atkinson Investment Management
Common Stock	05/21/2008	Â	S4	1,500	D	$ 3.05	0 ⁽¹⁾	I	By Limited Partner in Atkinson Investment Management
Common Stock	05/23/2008	Â	S4	1,000	D	$ 3.054	0 ⁽¹⁾	I	By Limited Partner in Atkinson Investment Management
Common Stock	05/27/2008	Â	S4	2,620	D	$ 3.0924	0 ⁽¹⁾	I	By Limited Partner in Atkinson Investment Management
Common Stock	05/28/2008	Â	S4	2,048	D	$ 3.0024	0 ⁽¹⁾	I	By Limited Partner in Atkinson Investment Management
Common Stock	05/30/2008	Â	S4	100	D	$ 3	0 ⁽¹⁾	I	By Limited Partner in Atkinson Investment Management
Common Stock	06/02/2008	Â	S4	332	D	$ 3	0 ⁽¹⁾	I	By Limited Partner in Atkinson Investment Management
Common Stock	06/03/2008	Â	S4	2,530	D	$ 2.9	0 ⁽¹⁾	D	Â
Common Stock	06/03/2008	Â	S4	1,210	D	$ 2.9	0 ⁽¹⁾	I	By self as Trustee of Gagnon Securiites LLC Profit Sharing Plan
Common Stock	06/11/2008	Â	P4	520	A	$ 2.97	0 ⁽¹⁾	I	By self as Trustee of Gagnon Securiites LLC Profit Sharing Plan
Common Stock	06/12/2008	Â	P4	565	A	$ 2.9978	0 ⁽¹⁾	I	By self as Trustee of Gagnon Securiites LLC Profit Sharing Plan
Common Stock	06/16/2008	Â	P4	2,780	A	$ 2.9961	0 ⁽¹⁾	D	Â
Common Stock	06/16/2008	Â	P4	3,005	A	$ 2.9961	0 ⁽¹⁾	D	Â
Common Stock	06/17/2008	Â	P4	1,500	A	$ 2.99	0 ⁽¹⁾	D	Â
Common Stock	06/18/2008	Â	P4	1,730	A	$ 3	0 ⁽¹⁾	D	Â
Common Stock	09/02/2008	Â	P4	1,570	A	$ 2.7118	0 ⁽¹⁾	I	By self as Trustee of Gagnon Securiites LLC Profit Sharing Plan
Common Stock	09/02/2008	Â	P4	1,515	A	$ 2.7118	0 ⁽¹⁾	D	Â
Common Stock	09/16/2008	Â	P4	1,270	A	$ 2.75	0 ⁽¹⁾	D	Â
Common Stock	09/16/2008	Â	P4	65	A	$ 2.75	0 ⁽¹⁾	D	Â

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

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 control number.

SEC 2270 (9-02)

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 Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Rights

$ 0.3

09/26/2011

J4 ⁽³⁾

1,560

09/26/2011

Common Stock

$ 1

$ 0 ⁽²⁾

411,581

By self as Trustee of Gagnon Securiites LLC Profit Sharing Plan

Rights

$ 0.3

09/26/2011

J4 ⁽³⁾

60,000

09/26/2011

Common Stock

$ 1

$ 0 ⁽²⁾

411,581

Rights

$ 0.3

09/26/2011

J4 ⁽³⁾

6,235

09/26/2011

Common Stock

$ 1

$ 0 ⁽²⁾

411,581

Rights

$ 0.3

11/02/2011

21,280

09/26/2011

Common Stock

$ 1

$ 0 ⁽²⁾

411,581

By Partner in Atkinson Investment Management

Rights

$ 0.3

11/02/2011

52,396

09/26/2011

Common Stock

$ 1

$ 0 ⁽²⁾

411,581

By Managing Member of General Partner of Darwin Partnership

Rights

$ 0.3

11/02/2011

90,821

09/26/2011

Common Stock

$ 1

$ 0 ⁽²⁾

411,581

By Managing Member of General Partner of Fallen Angel Partnership

Rights

$ 0.3

11/02/2011

762,415

09/26/2011

Common Stock

$ 1

$ 0 ⁽²⁾

411,581

By Managing Member of General Partner of Gagnon Investment Associates Master Fund LP

Rights

$ 0.3

11/02/2011

2,780

09/26/2011

Common Stock

$ 1

$ 0 ⁽²⁾

411,581

Rights

$ 0.3

11/02/2011

3,435

09/26/2011

Common Stock

$ 1

$ 0 ⁽²⁾

411,581

Rights

$ 0.3

11/02/2011

303,000

09/26/2011

Common Stock

$ 1

$ 0 ⁽²⁾

411,581

Rights

$ 0.3

11/02/2011

190,000

09/26/2011

Common Stock

$ 1

$ 0 ⁽²⁾

411,581

Rights

$ 0.3

11/02/2011

90,000

09/26/2011

Common Stock

$ 1

$ 0 ⁽²⁾

411,581

By Limited Partner of the Family Partnership of the Family Partnership

Rights

$ 0.3

11/02/2011

5,000

09/26/2011

Common Stock

$ 1

$ 0 ⁽²⁾

411,581

By self as Trustee of Gagnon Securiites LLC Profit Sharing Plan

Rights

$ 0.3

11/02/2011

1,085

09/26/2011

Common Stock

$ 1

$ 0 ⁽²⁾

411,581

By self as Trustee of Gagnon Securiites LLC Profit Sharing Plan

Rights

$ 0.3

11/02/2011

1,560

09/26/2011

Common Stock

$ 1

$ 0 ⁽²⁾

411,581

By self as Trustee of Gagnon Securiites LLC Profit Sharing Plan

Rights

$ 0.3

11/02/2011

60,000

09/26/2011

Common Stock

$ 1

$ 0 ⁽²⁾

411,581

Rights

$ 0.3

11/02/2011

6,235

09/26/2011

Common Stock

$ 1

$ 0 ⁽²⁾

411,581

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
GAGNON NEIL 1370 AVENUE OF THE AMERICAS 24TH FLOOR NEW YORK,Â NYÂ 10019	Â	Â X	Â	Â

Signatures

/s/ Neil Gagnon		05/21/2012
^**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	This number reflects that the first fiscal year involved in this set of Form 5 filings has not yet ended.
(2)	No additional consideration paid by the Reporting Person for such right.
(3)	Distribution of rights to purchase common stock from the issuer.
Â Remarks: TheÂ ReportingÂ PersonÂ hasÂ tenderedÂ aÂ paymentÂ ofÂ $7,512.96Â toÂ theÂ issuerÂ withÂ respectÂ toÂ allÂ profitsÂ realizedÂ byÂ theÂ ReportingÂ PersonÂ fromÂ theÂ transactionsÂ reportedÂ hereinÂ whichÂ resultÂ inÂ aÂ liabilityÂ underÂ SectionÂ 16(b)Â ofÂ theÂ SecuritiesÂ ExchangeÂ ActÂ ofÂ 1934. ThisÂ FormÂ 5Â isÂ numberÂ twoÂ inÂ aÂ seriesÂ ofÂ eightÂ FormÂ 5Â filingsÂ forÂ NTS.

Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.