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
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
  
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*
Ziems Robert Barron

(Last) (First) (Middle)
8548 GOLD FLASH AVENUE

(Street)
LAS VEGAS NV 89129

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
PROGRESSIVE GAMING INTERNATIONAL CORP [ PGIC ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Exec VP & General Counsel
3. Date of Earliest Transaction (Month/Day/Year)
04/05/2006
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)
Code V Amount (A) or (D) Price
Common Stock 04/05/2006 A(3) 71 A (3) 964 D
Common Stock 06/01/2007 M(4) 5,000 A $0 5,964 D
Common Stock 06/01/2007 F(5) 1,323 D $5.72 4,641 D
Common Stock 08/30/2007 M(6) 3,333 A $0 7,974 D
Common Stock 08/30/2007 F(7) 882 D $5.01 7,092 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: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $4.65 05/16/2007 A 40,000 (1) 05/16/2014 Common Stock 40,000 $0 40,000 D
Stock Option (Right to Buy) $2.67 02/22/2008 A 59,000 (2) 02/22/2015 Common Stock 29,000 $0 59,000 D
Restricted Stock Award $0 06/01/2007 M(4) 5,000 (8) 06/01/2009 Common Stock 5,000 $0 10,000 D
Restricted Stock Award $0 08/30/2007 M(6) 3,333 (9) 08/30/2009 Common Stock 3,333 $0 6,667 D
Explanation of Responses:
1. 1/48th of the shares subject to the option shall vest and become exercisable on June 16, 2007, with the remaining shares vesting in equal monthly installments over the next four (4) years, such that all shares subject to the option will be fully vested and exercisable on May 16, 2011.
2. 1/48th of the shares subject to the option shall vest and become exercisable on March 22, 2008, with the remaining shares vesting in equal monthly installments over the next four (4) years, such that all shares subject to the option will be fully vested and exercisable on February 22, 2012.
3. Between August 2004 and September 2005, an aggregate of 964 shares were acquired pursuant to the issuer's Employee Investment Plan, which allows company employees to purchase shares of company common stock. 893 shares were distributed to Mr. Ziems on September 1, 2005 and were reported by Mr. Ziems on Form 3 filed 4/4/2006. The remaining 71 shares were distributed to Mr. Ziems on 4/5/2006.
4. Respresents vesting of 1/3 of the shares of restricted stock award granted on June 1, 2006.
5. The disposal represents shares withheld by the Company to satisfy tax withholding obligation on vesting of 5,000 shares of a restricted stock award granted on June 1, 2006.
6. Respresents vesting of 1/3 of the shares of restricted stock award granted on September 30, 2006.
7. The disposal represents shares withheld by the Company to satisfy tax withholding obligation on vesting of 3,333 shares of a restricted stock award granted on September 30, 2006.
8. 1/3 of the shares covered by the award vested on June 1, 2007, with the remaining shares vesting in equal annual installments over the next two (2) years, such that all shares subject to the award will be fully vested on June 1, 2009.
9. 1/3 of the shares covered by the award vested on August 30, 2007, with the remaining shares vesting in equal annual installments over the next two (2) years, such that all shares subject to the award will be fully vested on August 30, 2009.
Robert Barron Ziems 04/29/2008
** 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.
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 Number.