Alimco Financial Corp - Feb 11, 2021 Form 4 Insider Report for Kaspien Holdings Inc. (KSPN)

Role: Member of 10% owner group, 10%+ Owner
Signature: /s/ Jonathan Marcus, Chief Executive Officer
Stock symbol: KSPN
Transactions as of: Feb 11, 2021
Transactions value $: $0
Form type: 4
Date filed: 3/7/2022, 03:42 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	KSPN	Common Stock	Options Exercise		+127K	+495.26%		153K	Feb 11, 2021	By Alimco Re Ltd.	F1
transaction	KSPN	Common Stock	Tax liability		-39	-0.03%		153K	Feb 11, 2021	By Alimco Re Ltd.	F1, F2

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	KSPN	Warrant for Common Stock	Options Exercise		-1	-100%		0	Feb 11, 2021	Common Stock	127K	$0.01	By Alimco Re Ltd.	F1, F3
transaction	KSPN	Warrant for Common Stock	Purchase		+1			1	Mar 2, 2022	Common Stock	320K	$0.01	By Alimco Re Ltd.	F4, F5, F6

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

Explanation of Responses:

Id	Content
F1	The reported transaction involved the conversion by Alimco Re Ltd. of a warrant to purchase a total of 127,208 shares of Kaspien Holdings Inc. common stock at a price equal to $0.01 per share (the "2020 Warrant"). Alimco Re Ltd. is a wholly owned subsidiary of Alimco Financial Corporation ("Alimco"). Alimco may be deemed to have voting and dispositive control over shares held by Alimco Re Ltd. Alimco disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein.
F2	The 2020 Warrant was exercised on a cashless basis.
F3	Alimco Re Ltd. acquired the 2020 Warrant in connection with a $2,718,000 secured term loan made on March 30, 2020 by Alimco Re Ltd. to Etailz Inc., a wholly owned subsidiary of Kaspien Holdings Inc.
F4	The reported transaction involved the acquisition by Alimco Re Ltd. of a warrant to purchase a total of 320,000 shares of Kaspien Holdings Inc. common stock at a price equal to $0.01 per share (the "2022 Warrant").
F5	Alimco disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein. This filing shall not be deemed an admission that Alimco is, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of any equity securities covered by this filing.
F6	Alimco Re Ltd. acquired the 2022 Warrant in connection with a $5,000,000 secured term loan made on March 2, 2022 by Alimco Re Ltd. to Kaspien Inc., a subsidiary of Kaspien Holdings Inc.