SEC FORM 4

SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

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

1. Name and Address of Reporting Person^*

SEMLER ERIC

(Last)

(First)

(Middle)

888 SEVENTH AVENUE, SUITE 1504

(Street)

NEW YORK

10019

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Information Services Group Inc. [ III ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/26/2010

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 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	08/26/2010		P		23,000⁽³⁾	A	$1.45	23,000⁽¹⁾⁽³⁾⁽⁴⁾	I	See Footnote⁽²⁾
Common Stock	08/27/2010		P		19,000⁽³⁾	A	$1.44	42,000⁽¹⁾⁽³⁾⁽⁴⁾	I	See Footnote⁽²⁾
Common Stock	08/30/2010		P		15,000⁽³⁾	A	$1.53	57,000⁽¹⁾⁽³⁾⁽⁴⁾	I	See Footnote⁽²⁾
Common Stock								689,600⁽⁵⁾	I	See Footnote⁽²⁾
Commont Stock								1,804,100⁽⁶⁾	I	See Footnote⁽²⁾
Common Stock								17,747,000⁽⁷⁾	I	See Footnote⁽²⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The filing of this Form 4 shall not be construed as an admission that Eric Semler is or was for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise the beneficial owner of any of the common stock, par value $0.001 per share (the "Common Stock") of Information Services Group, Inc. (the "Issuer") owned by TCS Capital, L.P., TCS Capital II, L.P., TCS Capital Investments, L.P. (collectively, the "Capital Funds") and TCS Select, L.P. (the "Select Fund", and together with the Capital Funds, the "Funds"). Pursuant to Rule 16a-1, the Reporting Person disclaims such beneficial ownership beyond its pecuniary interest.

2. The Funds hold Common Stock for their own accounts. TCS Capital GP, LLC ("Capital GP") holds indirectly Common Stock for the accounts of the Capital Funds, of which Capital GP is the general partner. TCS Select GP, LLC ("Select GP") holds indirectly Common Stock for the account of the Select Fund, of which Select GP is the general partner. Each of Capital GP and Select GP receive an allocation of a portion of net profits from and own a partnership interest in the Capital Funds and the Select Fund, respectively. Semler Chutorian LLC ("Semler LLC") reports Common Stock held indirectly by Select GP because, as managing member of Select GP, Semler LLC controls the disposition and voting of the securities indirectly held by Select GP. Mr. Semler reports the shares held indirectly by Capital GP and Semler LLC because, as the manager of each of Capital GP and Semler LLC, at the time of purchase, Mr. Semler controlled the disposition and voting of the securities.

3. This Form 4 is being filed to report the purchase of Common Stock by the Select Fund.

4. On or around the date of this filing, each of the Select Fund, Select GP and Semler LLC will file a Form 3 with respect to the Issuer. With respect to any subsequent transactions in the Issuer's Common Stock by the Reporting Person, Capital GP, Select GP, Semler LLC or the Funds, the Reporting Person, Capital GP, Select GP, Semler LLC and the Funds will file a joint Form 4.

5. As of the date of this filing, TCS Capital, L.P. ("Capital Fund") holds 689,600 shares of Common Stock. Capital Fund has not engaged in a reportable transaction as of the date of this filing.

6. As of the date of this filing, TCS Capital II, L.P. ("Capital II Fund") holds 1,804,100 shares of Common Stock. Capital II Fund has not engaged in a reportable transaction as of the date of this filing.

7. As of the date of this filing, TCS Capital Investments, L.P. ("Capital Investments Fund") holds 1,774,700 shares of Common Stock. Capital Investments Fund has not engaged in a reportable transaction as of the date of this filing.

	/s/ Eric Semler	08/30/2010
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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