4//SEC Filing
Kavanagh Terence Michael 4
Accession 0001104659-25-123361
CIK 0001072627other
Filed
Dec 18, 7:00 PM ET
Accepted
Dec 19, 7:14 PM ET
Size
12.5 KB
Accession
0001104659-25-123361
Insider Transaction Report
Form 4
Kavanagh Terence Michael
Director
Transactions
- Exercise of In-Money
Common Stock
2025-12-17$8.25/sh−500,000$4,125,000→ 1,987,830 total(indirect: By Oakmont Capital Inc.) - Exercise of In-Money
Stock Option (obligation to sell)
2025-12-17−500,000→ 0 total(indirect: By Oakmont Capital Inc.)Exercise: $8.25Exp: 2025-12-29→ Common Stock (500,000 underlying)
Holdings
- 34,750(indirect: By Retirement Plan)
Common Stock
- 80,000(indirect: By Oakmont Capital Inc.)
Class B Preferred Stock
Exercise: $9.50From: 2024-09-24Exp: 2031-09-24→ Common Stock (210,526.4 underlying) - 40,000(indirect: By Oakmont Capital Inc.)
Class C Preferred Stock
Exercise: $9.50From: 2025-02-12Exp: 2032-02-12→ Common Stock (105,263.2 underlying)
Footnotes (3)
- [F1]On March 31, 2025, Oakmont Capital Inc. ("Oakmont") entered into an Option Agreement with David Capital Partners Special Situation Fund, LP ("DCPSS"), pursuant to which Oakmont granted DCPSS an option to purchase 500,000 shares of common stock, par value $0.01 per share (the "Common Stock"), of Kingsway Financial Services Inc. (the "Company") at an exercise price of $8.25 per share. The Option Agreement was set to expire at 5:00 p.m. Eastern Time on December 29, 2025, and was amended on December 17, 2025 so that the option became exercisable at any time prior to 5:00 p.m. Eastern Time on December 29, 2025.
- [F2]The shares of Class B Preferred Stock of the Company have a stated value of $25 per share and are convertible at any time into shares of Common Stock at a conversion basis equal to 2.63158 shares of Common Stock for each share of Class B Preferred Stock, subject to customary adjustments. All outstanding shares of Class B Preferred Stock shall be redeemed by the Company on September 24, 2031.
- [F3]The shares of Class C Preferred Stock of the Company have a stated value of $25 per share and are convertible at any time into shares of Common Stock at a conversion basis equal to 2.63158 shares of Common Stock for each share of Class C Preferred Stock, subject to customary adjustments. All outstanding shares of Class C Preferred Stock shall be redeemed by the Company on February 12, 2032.
Documents
Issuer
KINGSWAY FINANCIAL SERVICES INC
CIK 0001072627
Entity typeother
Related Parties
1- filerCIK 0001538185
Filing Metadata
- Form type
- 4
- Filed
- Dec 18, 7:00 PM ET
- Accepted
- Dec 19, 7:14 PM ET
- Size
- 12.5 KB