CORRELL JESSE T 4
4 · UTG INC · Filed Mar 9, 2026
Research Summary
AI-generated summary of this filing
UTG (UTGN) 10% Owner Jesse T Correll Acquires 5,162 Shares
What Happened
Jesse T. Correll (reported as a 10% owner) was reported to have acquired 5,162 shares of UTG, Inc. on March 6, 2026. The filing shows an acquisition price of $0.00, giving a reported transaction value of $0. The reported shares were not an open-market cash purchase but reflect an internal reallocation following a redemption of a member interest in First Southern Funding, LLC.
Key Details
- Transaction date: 2026-03-06; Form 4 filed: 2026-03-09 (filed within the normal two-business-day reporting window).
- Reported transaction: Code P (purchase) — 5,162 shares acquired at $0.00 (total value reported $0).
- Shares owned after transaction: not specified in the filing.
- Important footnotes:
- The shares represent 1.06% of the UTG shares owned by First Southern Funding, LLC after that entity redeemed a member owning 1.21% (9.4 units).
- Correll is President and Manager of First Southern Funding, LLC and disclaims beneficial ownership except to the extent of his pecuniary interest. He also has roles with related entities noted in the filing (see footnotes).
- No separate purchase price was stated for these shares; the reporting reflects a change in membership interests, not a market buy.
Context
This is an internal reallocation resulting from a member redemption at First Southern Funding, LLC rather than a typical open-market purchase. The filing includes standard disclaimers that Correll disclaims beneficial ownership except to the extent of his pecuniary interest; such transactions often reflect changes in ownership of an entity rather than direct personal cash purchases.
Insider Transaction Report
- Purchase
Common Stock
[F2][F1]2026-03-06+5,162→ 486,957 total(indirect: By LLC)
- 81,562
Common Stock
- 72,750(indirect: By Partnership)
Common Stock
[F3] - 204,909(indirect: By First Southern Bancorp, Inc.)
Common Stock
[F4] - 1,201,876(indirect: By LLC)
Common Stock
[F5] - 15,000
Stock Options
[F6]Exercise: $48.40Exp: 2030-09-04→ Common Stock (15,000 underlying)
Footnotes (6)
- [F1]The reporting person is President and Manager of First Southern Funding, LLC. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
- [F2]This transaction is being reported to reflect the redemption by First Southern Funding, LLC of membership interests from one member. On March 6, 2026, First Southern Funding, LLC redeemed a member owning 9.4 units (1.21% interest). This redemption increased the membership interest of the reporting person (and his spouse) by 1.06%. The shares of UTG, Inc. reported as acquired represent 1.06% of the UTG shares owned by First Southern Funding, LLC. No separate price was stated for those shares. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
- [F3]The reporting person is the managing general partner of WCorrell, Limited Partnership. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
- [F4]The reporting person is Chairman and President of First Southern Bancorp, Inc. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
- [F5]The reporting person is the President and First Southern Bancorp, Inc. is a 99% member of First Southern Holdings, LLC. See note (4). The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
- [F6]These options were granted on September 4, 2025, pursuant to the terms of a stock option agreement under the 2025 Stock Option Plan. The options vest in 5 equal installments on each of the first five anniversaries of the date of grant, subject to the reporting person's continuing service through each such date.