Larry G. Swets Jr. - 16 Oct 2023 Form 4 Insider Report for FG Financial Group, Inc. (FGF)

Role: Chief Executive Officer, Director
Signature: /s/ Larry G. Swets, Jr.
Issuer symbol: FGF
Transactions as of: 16 Oct 2023
Net transactions value: +$2,291
Form type: 4
Filing time: 18 Oct 2023, 18:11:42 UTC
Previous filing: 04 Oct 2023
Next filing: 02 Nov 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FGF	Common Stock, par value $0.01 per share	Other	$2,291	+1,478	+0.27%	$1.55	543,604	16 Oct 2023	Direct	F1, F2
holding	FGF	8.00% Cumulative Preferred Stock, Series A, $25.00 par value						10,000	16 Oct 2023	Direct

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	FGF	Stock option	Award	$0	+130,000		$0.000000	130,000	12 Jan 2021	Common Stock	130,000	$3.38	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Shares were purchased within the FG Financial Group, Inc. Employee Share Purchase Plan.
F2	Includes (i) 7,722 RSUs granted on August 13, 2019 under the 2018 Equity Incentive Plan as director compensation (of which 6,178 have vested to date), (ii) 370,000 RSUs granted on February 17, 2023 under the 2021 Equity Incentive Plan (of which none have vested as of the date hereof) pursuant to the Equity Award Letter Agreement dated January 18, 2021, and (iii) 130,000 RSUs granted on February 17, 2023 under the 2021 Equity Incentive Plan (of which 43,334 shares have vested to date but 14,644 of such shares were withheld by the Company for tax purposes) for performance related to fiscal year 2022. Each RSU represents a contingent right to receive one share of common stock of the Company.
F3	The stock options become vested and fully exercisable in 20% increments on each anniversary of the grant date, provided that Mr. Swets remains in the continuous service of the Issuer through each applicable vesting date and that the Issuer's book value per share has increased by 15% or more as compared to the Issuer's book value per share as of the fiscal year end prior.