Horowitz Joshua 4
4 · KINGSWAY Corp · Filed Jun 1, 2026
Research Summary
AI-generated summary of this filing
Kingsway (KWY) Director Joshua Horowitz Buys 4,500 Shares
What Happened
Joshua Horowitz, a director of Kingsway Corporation (KWY), made two purchases (transaction code P) of company stock: 700 shares on May 28, 2026 at $9.95 ($6,965) and 3,800 shares on May 29, 2026 at $9.91 ($37,660), for a combined 4,500 shares purchased for $44,625. These were purchases (not sales), which are typically viewed as a direct buy of shares rather than a disposition.
Key Details
- Transaction dates & prices: May 28, 2026 — 700 shares @ $9.95 ($6,965); May 29, 2026 — 3,800 shares @ $9.91 ($37,660).
- Total purchased: 4,500 shares for $44,625.
- Shares owned after transaction: Not specified in the Form 4 provided.
- Notable footnotes from the filing:
- F1: Describes the Company’s Class D Preferred Stock (stated value $25, convertible into common at an initial conversion price of $9.50; redemption provisions apply).
- F2: Palm Management (US) LLC (and via certain roles, Mr. Horowitz) may be deemed beneficial owners of securities directly owned by Palm Global; they disclaim beneficial ownership except to the extent of pecuniary interest.
- F3: Reported price represents a weighted average; purchases occurred at prices ranging $9.80–$9.95 and the reporting person will provide a per-trade breakdown on request.
- Filing timeliness: The filing date is June 1, 2026; the Form 4 does not indicate a late-filing flag in the information provided.
Context
These transactions were purchases in the open market or private purchase (code P). The filing contains no indication of option exercises, awards, gifts, or immediate sales of the purchased shares. As always, purchases by insiders are factual signals of buying activity but do not, by themselves, reveal the insider’s motivation.
Insider Transaction Report
- Purchase
Common Stock
[F2]2026-05-28$9.95/sh+700$6,965→ 368,200 total(indirect: by Palm Global Small Cap Master Fund LP) - Purchase
Common Stock
[F3][F2]2026-05-29$9.91/sh+3,800$37,660→ 372,000 total(indirect: by Palm Global Small Cap Master Fund LP)
- 32,500
Common Stock
- 14,000(indirect: Palm Global Small Cap Master Fund LP)
Class D Preferred Stock
[F1][F2]Exercise: $9.50From: 2025-05-08Exp: 2032-05-08→ Common Stock (36,842.4 underlying)
Footnotes (3)
- [F1]The shares of Class D Preferred Stock, par value $0.01 per share (the "Class D Preferred Stock"), of Kingsway Corporation (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.
- [F3]The price reported represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $9.80 to $9.95 per share. The Reporting Person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price.