Stilwell Joseph - 29 Dec 2022 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
29 Dec 2022
Net transactions value
-$53,321
Form type
4
Filing time
03 Jan 2023, 15:54:10 UTC
Previous filing
30 Aug 2022
Next filing
05 Jan 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KFS Common Stock Sale $42,321 -5,275 -0.55% $8.02 955,284 29 Dec 2022 See footnote F2, F3
transaction KFS Common Stock Sale $11,000 -1,375 -0.14% $8.00 953,909 30 Dec 2022 See footnote F2, F3
holding KFS Common Stock 162,500 29 Dec 2022 Direct F1
holding KFS Common Stock 5,048,333 29 Dec 2022 See footnote F4
holding KFS Common Stock 665,138 29 Dec 2022 See footnote F5
holding KFS Common Stock 939,242 29 Dec 2022 See footnote F6

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 Series B Warrant Sale $0 -708,347 -100% $0.000000* 0 29 Dec 2022 Common Stock 708,347 $5.00 See footnote 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 sales: on December 29, 2022 Stilwell Value Partners VII, L.P. ("SVP VII") sold 5,275 shares at $8.023 and on December 30, 2022 SVP VII sold 1,375 shares at $8.00.
F3 These are shares owned directly by SVP VII 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 SVP VII. 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 Stilwell Activist Investments, L.P. ("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.
F5 These are shares owned directly by Stilwell Activist Fund, L.P. ("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.
F6 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 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.
F7 Prior to the sale of all Series B Warrants, SAI directly owned 478,582 Series B Warrants, SAF directly owned 48,004 Series B Warrants, Joseph Stilwell directly owned 31,250 Series B Warrants and Associates directly owned 150,511 Series B Warrants. Joseph Stilwell disclaims beneficial ownership of all warrants reported as owned indirectly except to the extent of his pecuniary interest therein.