Joseph Stilwell - Jun 10, 2021 Form 4 Insider Report for KINGSWAY FINANCIAL SERVICES INC (KFS)

Role: Director, 10%+ Owner
Signature: /s/ Kent A. Hansen as Attorney-in-Fact for Joseph Stilwell
Stock symbol: KFS
Transactions as of: Jun 10, 2021
Transactions value $: $1,710,752
Form type: 4
Date filed: 6/14/2021, 03:45 PM
Previous filing: May 21, 2021
Next filing: Jun 30, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	KFS	Common Stock	Purchase	$104K	+20.8K	+2.27%	$4.99	934K	Jun 10, 2021	See footnote	F2, F3
transaction	KFS	Common Stock	Purchase	$166K	+33.3K	+6.34%	$4.99	558K	Jun 10, 2021	See footnote	F2, F4
transaction	KFS	Common Stock	Purchase	$1.18M	+237K	+5.62%	$4.99	4.45M	Jun 10, 2021	See footnote	F2, F5
transaction	KFS	Common Stock	Purchase	$259K	+51.9K	+6.9%	$4.99	804K	Jun 10, 2021	See footnote	F2, F6
holding	KFS	Common Stock						163K	Jun 10, 2021	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These are shares owned directly by Joseph Stilwell.
F2	This Form 4 reports the following acquisitions on June 10, 2021: (a) Stilwell Activist Investments, L.P. ("SAI") acquired 236,659 shares at $4.9936 USD per share, (b) Stilwell Activist Fund, L.P. ("SAF") acquired 33,277 shares at $4.9936 USD per share, (c) Stilwell Value Partners VII, L.P. ("SVP VII") acquired 51,903 shares at $4.9936 USD per share, and (d) Stilwell Associates, L.P. ("Associates") acquired 20,750 shares at $4.9936 USD per share.
F3	These are shares owned directly by Associates and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC ("Value"), which is the general partner of Associates. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein.
F4	These are shares owned directly by SAF and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein.
F5	These are shares owned directly by SAI and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein.
F6	These are shares owned directly by SVP VII, and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein.