4//SEC Filing
Horowitz Joshua 4
Accession 0001104659-25-046877
CIK 0001072627other
Filed
May 8, 8:00 PM ET
Accepted
May 9, 6:20 PM ET
Size
7.1 KB
Accession
0001104659-25-046877
Insider Transaction Report
Form 4
Horowitz Joshua
Director
Transactions
- Award
Class D Preferred Stock
2025-05-08$25.00/sh+14,000$350,000→ 14,000 total(indirect: Palm Global Small Cap Master Fund LP)Exercise: $9.50From: 2025-05-08Exp: 2032-05-08→ Common Stock (36,842.4 underlying)
Footnotes (2)
- [F1]The shares of Class D Preferred Stock, par value $0.01 per share (the "Class D Preferred Stock"), of Kingsway Financial Services Inc. (the "Company") have a stated value of $25 per share and are convertible at any time, at the holder's option, into shares of Common Stock, par value $0.01 per share, of the Company (the "Common Stock") at an initial conversion price of $9.50 per share (or 2.6316 shares of Common Stock for each share of Class D Preferred Stock), subject to customary adjustments. The Company has the option to redeem 25% of the outstanding shares of Class D Preferred Stock for cash upon the occurrence of certain events. All then-outstanding shares of Class D Preferred Stock shall be redeemed by the Company for cash on May 8, 2032.
- [F2]Palm Management (US) LLC, as the investment manager of Palm Global Small Cap Master Fund LP ("Palm Global"), may be deemed to be a beneficial owner of the securities disclosed as directly owned by Palm Global. Due to his positions as a portfolio manager and special limited partner of Palm Global and as an employee of Palm Management (US) LLC, Mr. Horowitz may be deemed to be a beneficial owner of the securities disclosed as directly owned by Palm Global. Palm Management (US) LLC and Mr. Horowitz expressly disclaim such beneficial ownership except to the extent of their pecuniary interest therein.
Documents
Issuer
KINGSWAY FINANCIAL SERVICES INC
CIK 0001072627
Entity typeother
Related Parties
1- filerCIK 0001612424
Filing Metadata
- Form type
- 4
- Filed
- May 8, 8:00 PM ET
- Accepted
- May 9, 6:20 PM ET
- Size
- 7.1 KB