Douglas Levine - Sep 24, 2024 Form 4 Insider Report for KINGSWAY FINANCIAL SERVICES INC (KFS)

Role: Director
Signature: /s/ Debra Rouse, attorney-in-fact for Douglas Levine
Stock symbol: KFS
Transactions as of: Sep 24, 2024
Transactions value $: $2,100,000
Form type: 4
Date filed: 9/26/2024, 09:51 PM
Previous filing: Aug 28, 2023

Transactions Table

Type	Sym	Class	Shares After	Date	Ownership
holding	KFS	Common Stock	1.16M	Sep 24, 2024	Direct
holding	KFS	Common Stock	90.2K	Sep 24, 2024	By family member
holding	KFS	Common Stock	189K	Sep 24, 2024	By Trust

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 B Preferred Stock	Award	$2.1M	+84K		$25.00	84K	Sep 24, 2024	Common Stock	221K	$9.50	By Trust	F1

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

Explanation of Responses:

Id	Content
F1	The shares of Class B Preferred Stock of Kingsway Financial Services Inc. (the "Company") have a stated value of $25 per share and are convertible at any time into shares of Common Stock, par value $0.01 per share, of the Company (the "Common Stock") at a conversion basis equal to 2.63158 shares of Common Stock for each share of Class B Preferred Stock, subject to customary adjustments. All outstanding shares of Class B Preferred Stock shall be redeemed by the Company on September 24, 2031.

Content

The shares of Class B Preferred Stock of Kingsway Financial Services Inc. (the "Company") have a stated value of $25 per share and are convertible at any time into shares of Common Stock, par value $0.01 per share, of the Company (the "Common Stock") at a conversion basis equal to 2.63158 shares of Common Stock for each share of Class B Preferred Stock, subject to customary adjustments. All outstanding shares of Class B Preferred Stock shall be redeemed by the Company on September 24, 2031.