Kakaopay Corp - 18 May 2023 Form 3 Insider Report for SIEBERT FINANCIAL CORP (SIEB)

Role: 10%+ Owner
Signature: Kakaopay Corporation, By: /s/ Brian N. Wheaton, Attorney-in-Fact
Issuer symbol: SIEB
Transactions as of: 18 May 2023
Net transactions value: $0
Form type: 3
Filing time: 26 May 2023, 16:16:05 UTC
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	SIEB	Common Stock, $0.01 par value per share						8,075,607	18 May 2023	Direct	F1

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

Explanation of Responses:

Id	Content
F1	The reported shares of Common Stock, $0.01 par value per share, of the Issuer ("Common Stock"), were issued and sold to Kakaopay Corporation ("Kakaopay") at a purchase price of $2.15 per share. Kakaopay is a subsidiary of Kakao Corporation ("Kakao"). By virtue of this relationship, Kakao may be deemed to beneficially own the shares of Common Stock held by Kakaopay. Each of Kakaopay and Kakao disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein.

Content

The reported shares of Common Stock, $0.01 par value per share, of the Issuer ("Common Stock"), were issued and sold to Kakaopay Corporation ("Kakaopay") at a purchase price of $2.15 per share. Kakaopay is a subsidiary of Kakao Corporation ("Kakao"). By virtue of this relationship, Kakao may be deemed to beneficially own the shares of Common Stock held by Kakaopay. Each of Kakaopay and Kakao disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein.

Remarks:

See Exhibit 24.1 - Power of Attorney (Kakaopay Corporation); See Exhibit 24.2 - Power of Attorney (Kakao Corporation)