Stilwell Joseph - 22 Nov 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
Issuer symbol
KFS
Transactions as of
22 Nov 2021
Net transactions value
+$110,000
Form type
4
Filing time
24 Nov 2021, 15:25:58 UTC
Previous filing
22 Nov 2021
Next filing
29 Nov 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KFS Common Stock Purchase $6,980 +1,269 +0.22% $5.50 581,953 22 Nov 2021 See footnote F2, F4
transaction KFS Common Stock Purchase $36,828 +6,696 +0.15% $5.50 4,602,369 22 Nov 2021 See footnote F2, F5
transaction KFS Common Stock Purchase $11,192 +2,035 +0.24% $5.50 842,136 22 Nov 2021 See footnote F2, F6
transaction KFS Common Stock Purchase $6,980 +1,269 +0.22% $5.50 583,222 23 Nov 2021 See footnote F2, F4
transaction KFS Common Stock Purchase $36,828 +6,696 +0.15% $5.50 4,609,065 23 Nov 2021 See footnote F2, F5
transaction KFS Common Stock Purchase $11,192 +2,035 +0.24% $5.50 844,171 23 Nov 2021 See footnote F2, F6
transaction KFS Common Stock Conversion of derivative security +11,500 +2% 594,722 23 Nov 2021 See footnote F4, F7
transaction KFS Common Stock Conversion of derivative security +70,643 +1.5% 4,679,708 23 Nov 2021 See footnote F5, F7
holding KFS Common Stock 162,500 22 Nov 2021 Direct F1
holding KFS Common Stock 939,242 22 Nov 2021 See footnote F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction KFS Class A Preferred Stock, Series 1 Conversion of derivative security $0 -1,840 -100% $0.000000* 0 23 Nov 2021 Common Stock 11,500 See footnote F4, F7
transaction KFS Class A Preferred Stock, Series 1 Conversion of derivative security $0 -11,303 -100% $0.000000* 0 23 Nov 2021 Common Stock 70,643 See footnote F5, F7
* 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 November 22, 2021: (a) Stilwell Activist Investments, L.P. ("SAI") acquired 6,696 shares at $5.50 USD per share, (b) Stilwell Activist Fund, L.P. ("SAF") acquired 1,269 shares at $5.50 USD per share, and (c) Stilwell Value Partners VII, L.P. ("SVP VII") acquired 2,035 shares at $5.50 USD per share; and on November 23, 2021: (a) SAI acquired 6,696 shares at $5.50 USD per share, (b) SAF acquired 1,269 shares at $5.50 USD per share, and (c) SVP VII acquired 2,035 shares at $5.50 USD per share.
F3 These are shares owned directly by Stilwell Associates L.P. ("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 Stilwell Value Partners VII, L.P. ("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.
F7 The Class A Preferred Stock ("Preferred Stock") was convertible at a rate of one (1) share of Preferred Stock for six and 25/100th shares of Common Stock and do not have an expiration date. SAF converted 1,840 shares of Preferred Stock into 11,500 shares of Common Stock and SAI converted 11,303 shares of Preferred Stock into 70,643 shares of Common Stock.