| Name | Relationship | Address | Signature | Signature date | CIK |
|---|---|---|---|---|---|
| STILWELL JOSEPH | Director, 10%+ Owner | 200 CALLE DEL SANTO CRISTO, SAN JUAN, PUERTO RICO | /s/ Debra Rouse as Attorney-in-Fact for Joseph Stilwell | 2025-07-01 | 0001113303 |
| Stilwell Value LLC | 10%+ Owner | 111 BROADWAY, 12TH FLOOR, NEW YORK | /s/ Debra Rouse as Attorney-in-Fact for Stilwell Value LLC | 2025-07-01 | 0001397076 |
| STILWELL ASSOCIATES L P | 10%+ Owner | 111 BROADWAY, 12TH FLOOR, NEW YORK | /s/ Debra Rouse as Attorney-in-Fact for Stilwell Associates, L.P. | 2025-07-01 | 0000913960 |
| Stilwell Activist Fund, L.P. | 10%+ Owner | 111 BROADWAY, 12TH FLOOR, NEW YORK | /s/ Debra Rouse as Attorney-in-Fact for Stilwell Activist Fund, L.P. | 2025-07-01 | 0001564452 |
| Stilwell Activist Investments, L.P. | 10%+ Owner | 111 BROADWAY, 12TH FLOOR, NEW YORK | /s/ Debra Rouse as Attorney-in-Fact for Stilwell Activist Investments, L.P. | 2025-07-01 | 0001573720 |
| Stilwell Value Partners VII, L.P. | 10%+ Owner | 111 BROADWAY, 12TH FLOOR, NEW YORK | /s/ Debra Rouse as Attorney-in-Fact for Stilwell Value Partners VII, L.P. | 2025-07-01 | 0001555931 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | KFS | Common Stock | Sale | -$1.2M | -85.2K | -2.25% | $14.03 | 3.7M | Jun 27, 2025 | See footnote | F2, F3 |
| transaction | KFS | Common Stock | Sale | -$158K | -11.2K | -2.25% | $14.03 | 488K | Jun 27, 2025 | See footnote | F2, F4 |
| transaction | KFS | Common Stock | Sale | -$447K | -31.8K | -4.46% | $14.03 | 681K | Jun 27, 2025 | See footnote | F2, F5 |
| transaction | KFS | Common Stock | Sale | -$116K | -8.32K | -0.22% | $13.90 | 3.69M | Jun 30, 2025 | See footnote | F2, F3 |
| transaction | KFS | Common Stock | Sale | -$82K | -5.9K | -1.21% | $13.90 | 482K | Jun 30, 2025 | See footnote | F2, F4 |
| transaction | KFS | Common Stock | Sale | -$261K | -18.8K | -2.76% | $13.90 | 662K | Jun 30, 2025 | See footnote | F2, F5 |
| holding | KFS | Common Stock | 163K | Jun 27, 2025 | Direct | F1 | |||||
| holding | KFS | Common Stock | 702K | Jun 27, 2025 | See footnote | F6 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| holding | KFS | Class D Preferred Stock | 20K | Jun 27, 2025 | Common Stock | 52.6K | $9.50 | See footnote | F6, F7 | |||||
| holding | KFS | Class C Preferred Stock | 33.6K | Jun 27, 2025 | Common Stock | 88.4K | $9.50 | See footnote | F3, F8 | |||||
| holding | KFS | Class C Preferred Stock | 6.4K | Jun 27, 2025 | Common Stock | 16.8K | $9.50 | See footnote | F4, F8 |
| Id | Content |
|---|---|
| F1 | These are shares owned directly by Joseph Stilwell. |
| F2 | This Form 4 reports the following sales: on June 27, 2025 (a) Stilwell Activist Investments, L.P. ("SAI") sold 85,191 shares at $14.0327; (b) Stilwell Activist Fund, L.P. ("SAF") sold 11,224 shares at $14.0327; and (c) Stilwell Value Partners VII, L.P. ("SVP VII") sold 31,828 shares at $14.0327; and on June 30, 2025 (a) Stilwell Activist Investments, L.P. ("SAI") sold 8,319 shares at $13.90497; (b) Stilwell Activist Fund, L.P. ("SAF") sold 5,896 shares at $13.90497; and (c) Stilwell Value Partners VII, L.P. ("SVP VII") sold 18,763 shares at $13.90497. |
| F3 | These are shares owned directly by SAI 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 SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein. |
| F4 | 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. |
| F5 | These are shares owned directly by 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. |
| F6 | 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 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. |
| F7 | The shares of 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 into shares of Common Stock, par value $0.01 per share, of the Company (the "Common Stock") at a conversion basis equal to 2.63158 shares of Common Stock for each share of Class D Preferred Stock, subject to customary adjustments. All outstanding shares of Class D Preferred Stock shall be redeemed by the Company on May 7, 2032. |
| F8 | 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. |