Edgar Filing: Bizick Ronald G II

Ownership Submission

FORM 4

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

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Bizick Ronald G II

2. Issuer Name and Ticker or Trading Symbol
GLOBAL SIGNAL INC [GSL]

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

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Exec V.P., and C.O.O.

(Last)

(First)

(Middle)

301 NORTH CATTLEMEN ROAD, SUITE 300

3. Date of Earliest Transaction (Month/Day/Year)
12/21/2005

(Street)

SARASOTA, FL 34232

4. If Amendment, Date 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

(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 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

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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 Following Reported Transaction(s)
(Instr. 4)

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

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

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (right to buy)

$ 8.53

12/21/2005

35,875

⁽¹⁾

Common Stock, par value $0.01 per share

35,875

⁽²⁾

46,125

Employee Stock Option (right to buy)

$ 18

12/21/2005

107,625

⁽¹⁾

Common Stock, par value $0.01 per share

107,625

⁽²⁾

138,375

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Bizick Ronald G II 301 NORTH CATTLEMEN ROAD, SUITE 300 SARASOTA, FL 34232			Exec V.P., and C.O.O.

Signatures

/s/ Ronald G. Bizick, II		12/23/2005
^**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)	Prior to the cancellation of a total of 143,000 unvested options, each of the reporting person's options were scheduled to vest on December 31, 2006 and were scheduled to expire on March 10, 2013. Global Signal Inc. agreed to accelerate the vesting of each of the reporting person's remaining 184,500 options to be immediately exercisable as of December 31, 2005.
(2)	As consideration for the cancellation of a total of 143,000 unvested options, Global Signal Inc. agreed to grant to the reporting person a deferred shares award that represents the right to receive up to that number of shares of Global Signal common stock equal to 150% of an amount of shares determined by a formula. The formula is based on the difference between the fair market value of the common stock on the date of grant and the exercise price of the cancelled options reported herein. The amount of shares that the reporting person will ultimately receive pursuant to this award is based on Global Signal's annualized dividend declared in respect of the fourth quarter of 2006.

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