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Filing Details

Accession Number:: 0001104659-21-143586
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-11-24 16:25:58
Reporting Period:: 2021-11-22

Accepted Time:: 2021-11-24 16:25:58
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1072627	Kingsway Financial Services Inc	KFS	()	DE

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
913960	P L Associates Stilwell	111 Broadway, 12Th Floor New York NY 10006	No	No	Yes	No
1113303	Joseph Stilwell	200 Calle Del Santo Cristo San Juan PR 00901	Yes	No	Yes	No
1397076	Stilwell Value Llc	111 Broadway, 12Th Floor New York NY 10006	No	No	Yes	No
1555931	Stilwell Value Partners Vii, L.p.	111 Broadway, 12Th Floor New York NY 10006	No	No	Yes	No
1564452	Stilwell Activist Fund, L.p.	111 Broadway, 12Th Floor New York NY 10006	No	No	Yes	No
1573720	Stilwell Activist Investments, L.p.	111 Broadway, 12Th Floor New York NY 10006	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2021-11-22	1,269	$5.50	581,953	No	4	P	Indirect	See footnote
Common Stock	Acquisiton	2021-11-22	6,696	$5.50	4,602,369	No	4	P	Indirect	See footnote
Common Stock	Acquisiton	2021-11-22	2,035	$5.50	842,136	No	4	P	Indirect	See footnote
Common Stock	Acquisiton	2021-11-23	1,269	$5.50	583,222	No	4	P	Indirect	See footnote
Common Stock	Acquisiton	2021-11-23	6,696	$5.50	4,609,065	No	4	P	Indirect	See footnote
Common Stock	Acquisiton	2021-11-23	2,035	$5.50	844,171	No	4	P	Indirect	See footnote
Common Stock	Acquisiton	2021-11-23	11,500	$0.00	594,722	No	4	C	Indirect	See footnote
Common Stock	Acquisiton	2021-11-23	70,643	$0.00	4,679,708	No	4	C	Indirect	See footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See footnote
No	4	P	Indirect	See footnote
No	4	P	Indirect	See footnote
No	4	P	Indirect	See footnote
No	4	P	Indirect	See footnote
No	4	P	Indirect	See footnote
No	4	C	Indirect	See footnote
No	4	C	Indirect	See footnote

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Class A Preferred Stock, Series 1	Disposition	2021-11-23	1,840	$0.00	11,500	$0.00
Common Stock	Class A Preferred Stock, Series 1	Disposition	2021-11-23	11,303	$0.00	70,643	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0			No	4	C	Indirect
0			No	4	C	Indirect

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	162,500	Direct
Common Stock	939,242	Indirect	See footnote

Footnotes

These are shares owned directly by Joseph Stilwell.
This Form 4 reports the following acquisitions on November 22, 2021: (a) Stilwell Activist Investments, L.P. ("SAI") acquired 6,696 shares at $5.50 USD per share, (b) Stilwell Activist Fund, L.P. ("SAF") acquired 1,269 shares at $5.50 USD per share, and (c) Stilwell Value Partners VII, L.P. ("SVP VII") acquired 2,035 shares at $5.50 USD per share; and on November 23, 2021: (a) SAI acquired 6,696 shares at $5.50 USD per share, (b) SAF acquired 1,269 shares at $5.50 USD per share, and (c) SVP VII acquired 2,035 shares at $5.50 USD per share.
These are shares owned directly by Stilwell Associates L.P. ("Associates") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC ("Value"), which is the general partner of Associates. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein.
These are shares owned directly by SAF and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein.
These are shares owned directly by SAI and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein.
These are shares owned directly by Stilwell Value Partners VII, L.P. ("SVP VII") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein.
The Class A Preferred Stock ("Preferred Stock") was convertible at a rate of one (1) share of Preferred Stock for six and 25/100th shares of Common Stock and do not have an expiration date. SAF converted 1,840 shares of Preferred Stock into 11,500 shares of Common Stock and SAI converted 11,303 shares of Preferred Stock into 70,643 shares of Common Stock.