Joseph Stilwell - Sep 8, 2021 Form 4 Insider Report for KINGSWAY FINANCIAL SERVICES INC (KFS)

Role: Director, 10%+ Owner
Signature: /s/ Debra Rouse as Attorney-in-Fact for Joseph Stilwell
Stock symbol: KFS
Transactions as of: Sep 8, 2021
Transactions value $: $53,500
Form type: 4
Date filed: 9/10/2021, 04:06 PM
Previous filing: Aug 30, 2021
Next filing: Sep 15, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	KFS	Common Stock	Purchase	$3.45K	+644	+0.07%	$5.35	939K	Sep 8, 2021	See footnote	F2, F3
transaction	KFS	Common Stock	Purchase	$5.4K	+1.01K	+0.18%	$5.35	567K	Sep 8, 2021	See footnote	F2, F4
transaction	KFS	Common Stock	Purchase	$36K	+6.72K	+0.15%	$5.35	4.51M	Sep 8, 2021	See footnote	F2, F5
transaction	KFS	Common Stock	Purchase	$8.7K	+1.63K	+0.2%	$5.35	818K	Sep 8, 2021	See footnote	F2, F6
holding	KFS	Common Stock						163K	Sep 8, 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 September 8, 2021: (a) Stilwell Activist Investments, L.P. ("SAI") acquired 6,720 shares at $5.35 USD per share, (b) Stilwell Activist Fund, L.P. ("SAF") acquired 1,010 shares at $5.35 USD per share, (c) Stilwell Value Partners VII, L.P. ("SVP VII") acquired 1,626 shares at $5.35 USD per share, and (d) Stilwell Associates, L.P. ("Associates") acquired 644 shares at $5.35 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.