SEC Form 5
FORM 5 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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X
 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.
X
 Form 4 Transactions Reported.
1. Name and Address of Reporting Person*
GAGNON NEIL
(Last) (First) (Middle)
1370 AVENUE OF THE AMERICAS
24TH FLOOR
(Street)
NEW YORK NY 10019
(City) (State) (Zip)
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)
3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2011
4. If Amendment, Date of 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 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)
Amount (A) or (D) Price
Common Stock 11/15/2010 S4 3,220 D $1.45 1,602,997 D
Common Stock 11/16/2010 S4 690 D $1.45 1,739,538 D
Common Stock 01/19/2011 P4 315 A $1.26 1,739,538 I By self as Trustee of Gagnon Securiites LLC Profit Sharing Plan
Common Stock 01/26/2011 S4 46,895 D $1.4018 1,739,538 D
Common Stock 01/27/2011 S4 549 D $1.4568 1,739,538 D
Common Stock 01/27/2011 S4 20,451 D $1.4568 1,739,538 D
Common Stock 01/27/2011 S4 20,000 D $1.4568 1,739,538 D
Common Stock 01/28/2011 S4 42,343 D $1.4599 1,739,538 D
Common Stock 01/31/2011 S4 8,500 D $1.4 1,739,538 D
Common Stock 02/01/2011 S4 11,108 D $1.4 1,739,538 D
Common Stock 11/02/2011 X4 21,280 A $0.3 1,739,538 I By Limited Partner in Atkinson Investment Management
Common Stock 11/02/2011 X4 10,640 A $0.3 1,739,538 I By Limited Partner in Atkinson Investment Management
Common Stock 11/02/2011 X4 52,396 A $0.3 1,739,538 I By Managing Member of General Partner of Darwin Partnership
Common Stock 11/02/2011 X4 26,198 A $0.3 1,739,538 I By Managing Member of General Partner of Darwin Partnership
Common Stock 11/02/2011 X4 90,821 A $0.3 1,739,538 I By Managing Member of General Partner of Fallen Angel Partnership
Common Stock 11/02/2011 X4 45,411 A $0.3 1,739,538 I By Managing Member of General Partner of Fallen Angel Partnership
Common Stock 11/02/2011 X4 762,415 A $0.3 1,739,538 I By Managing Member of General Partner of Gagnon Investment Associates Master Fund LP
Common Stock 11/02/2011 X4 381,208 A $0.3 1,739,538 I By Managing Member of General Partner of Gagnon Investment Associates Master Fund LP
Common Stock 11/02/2011 X4 2,780 A $0.3 1,739,538 D
Common Stock 11/02/2011 X4 3,435 A $0.3 1,739,538 D
Common Stock 11/02/2011 X4 1,718 A $0.3 1,739,538 D
Common Stock 11/02/2011 X4 303,000 A $0.3 1,739,538 D
Common Stock 11/02/2011 X4 151,500 A $0.3 1,739,538 D
Common Stock 11/02/2011 X4 190,000 A $0.3 1,739,538 D
Common Stock 11/02/2011 X4 95,000 A $0.3 1,739,538 D
Common Stock 11/02/2011 X4 90,000 A $0.3 1,739,538 I By Limited Partner of the Family Partnership of the Family Partnership
Common Stock 11/02/2011 X4 45,000 A $0.3 1,739,538 I By Limited Partner of the Family Partnership of the Family Partnership
Common Stock 11/02/2011 X4 5,000 A $0.3 1,739,538 I By self as Trustee of Gagnon Securiites LLC Profit Sharing Plan
Common Stock 11/02/2011 X4 2,500 A $0.3 1,739,538 I By self as Trustee of Gagnon Securiites LLC Profit Sharing 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 (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: 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
Explanation of Responses:
Remarks:
The Reporting Person has tendered a payment of $7,512.96 to the issuer with respect to all profits realized by the Reporting Person from the transactions reported herein which result in a liability under Section 16(b) of the Securities Exchange Act of 1934. This Form 5 is number seven in a series of eight Form 5 filings for NTS.
/s/ Neil Gagnon 05/21/2012
** Signature of Reporting Person Date
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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