Kevin M. Sheehan - Jun 6, 2023 Form 4 Insider Report for MIDWEST HOLDING INC. (MDWT)

Role: Director
Signature: Kevin M. Sheehan
Stock symbol: MDWT
Transactions as of: Jun 6, 2023
Transactions value $: $0
Form type: 4
Date filed: 6/7/2023, 08:13 PM
Previous filing: Jun 16, 2022
Next filing: Dec 21, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MDWT	Common Stock	Award	$0	+1.16K	+31%	$0.00	4.92K	Jun 6, 2023	Direct	F1
holding	MDWT	Common Stock						39.8K	Jun 6, 2023	Through Mellon Stud Ventures, LLC	F2

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

Explanation of Responses:

Id	Content
F1	The reported shares underlie a restricted stock unit award which vests on the earlier of the first anniversary of its date of grant and the next date of the annual meeting of stockholders, subject the terms of the restricted stock unit agreement and the Issuer's Long-Term Incentive Plan which includes acceleration of vesting under certain circumstances. Each restricted stock unit represents the contingent right to receive one share of voting common stock of the Issuer.
F2	The Reporting Person has voting and dispositive control over these shares as he controls and manages Mellon Stud Ventures, LLC. However, the Reporting Person's pecuniary interest in these shares is indirectly limited to 5% as of the date of this filing and therefor he disclaims beneficial ownership of these shares, except to the extent of his indirect pecuniary interest therein. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such shares for purposes of Section 16 of the Securities Exchange Act of 1934, or for any other purposes.

Content

The reported shares underlie a restricted stock unit award which vests on the earlier of the first anniversary of its date of grant and the next date of the annual meeting of stockholders, subject the terms of the restricted stock unit agreement and the Issuer's Long-Term Incentive Plan which includes acceleration of vesting under certain circumstances. Each restricted stock unit represents the contingent right to receive one share of voting common stock of the Issuer.

The Reporting Person has voting and dispositive control over these shares as he controls and manages Mellon Stud Ventures, LLC. However, the Reporting Person's pecuniary interest in these shares is indirectly limited to 5% as of the date of this filing and therefor he disclaims beneficial ownership of these shares, except to the extent of his indirect pecuniary interest therein. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such shares for purposes of Section 16 of the Securities Exchange Act of 1934, or for any other purposes.