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o
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Rule 13d-1(b)
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o
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Rule 13d-1(c)
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x
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Rule 13d-1(d)
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CUSIP No. M87896102
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1.
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Name of reporting persons:
I.R.S. Identification Nos. of Above Persons (Entities Only)
Dr. Ido Schechter
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2.
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Check the appropriate box if a member of a group
(a) o
(b) x
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3.
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sec use only
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4.
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citizenship or place of organization
Israel
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NUMBER OF SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
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5.
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sole voting power
722,998 (1)
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6.
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shared voting power
None
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7.
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sole dispositive power
722,998 (1)
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8.
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shared dispositive power
None.
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9.
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aggregate amount beneficially owned by each reporting person
722,998 (1)
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10.
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check box if the aggregate amount in row (9) excludes certain shares:
None.
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11.
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percent of class represented by amount in row (9)
7.4% (1) (2)
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12.
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type of reporting person
in
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CUSIP No. M87896102
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Item 1(a).
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Name of Issuer: Top Image Systems Ltd.
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Item 1(b).
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Address of Issuer’s Principal Executive Offices:
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Item 2(a).
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Name of Person Filing:
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Item 2(b).
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Address of Principal Business Office or, if None, Residence:
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Item 2(c).
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Citizenship: Israel
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Item 2(d).
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Title of Class of Securities:
Ordinary Shares nominal value NIS 0.04 per share (the “Ordinary Shares”).
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Item 2(e).
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CUSIP Number:
M87896102
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Item 3.
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If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:
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(a) o
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Broker or dealer registered under Section 15 of the Exchange Act;
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(b) o
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Bank as defined in Section 3(a)(6) of the Exchange Act;
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(c) o
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Insurance Company as defined in Section 3(a)(19) of the Exchange Act;
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CUSIP No. M87896102
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(d) o
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Investment Company registered under Section 8 of the Investment Company Exchange Act;
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(e) o
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Investment Adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
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(f) o
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Employee Benefit Plan or Endowment Fund in accordance with Rule 13d-1(b)(1)(ii)(F);
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(g) o
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Parent Holding Company or Control Person in accordance with Rule 13d-1(b)(1)(ii)(G);
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(h) o
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Saving Association as defined in Section 3(b) of The Federal Deposit Insurance Act;
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(i) o
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Church Plan that is excluded from the definition of an Investment Company under Section 3(c)(14) of the Investment Company Act;
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(j) o
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Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
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Item 4.
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Ownership.
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(a)
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Amount beneficially owned: 722,998(1)
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(b)
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Percent of Class: 7.4%(1)(2)
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(c)
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Number of shares as to which such person has:
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(i)
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Sole power to vote or to direct the vote: 722,998(1)
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(ii)
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Shared power to vote or to direct the vote: None.
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(iii)
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Sole power to dispose or direct the disposition of: 722,998(1)
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(iv)
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Shared power to dispose or to direct the disposition of: None.
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Item 5.
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Ownership of Five Percent or Less of a Class.
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Item 6.
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Ownership of More than Five Percent on Behalf of Another Person. N/A
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Item 7.
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Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. N/A
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CUSIP No. M87896102
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Item 8.
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Identification and Classification of Members of the Group.
N/A
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Item 9.
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Notice of Dissolution of Group.
N/A
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Item 10.
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Certification.
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February 15, 2011
(Date)
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Dr. Ido Schechter
By:/s/ Ido Schechter
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(1)
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Includes 317,923 Ordinary Shares the reporting person has the right to acquire within 60 days.
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(2)
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The reporting person was advised by the issuer person that as of December 31, 2010 there were 9,400,638 outstanding Ordinary Shares of the issuer.
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