Douglas Levine - Feb 14, 2025 Form 4 Insider Report for KINGSWAY FINANCIAL SERVICES INC (KFS)

Role: Director
Signature: /s/ Debra Rouse, attorney-in-fact for Douglas Levine
Stock symbol: KFS
Transactions as of: Feb 14, 2025
Transactions value $: $968,900
Form type: 4
Date filed: 2/14/2025, 04:15 PM
Previous filing: Feb 18, 2025
SEC: View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	KFS	Class C Preferred Stock	Award	$969K	+38.8K		$25.00	38.8K	Feb 14, 2025	Common Stock	102K	$9.50	By Trust	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The shares of Class C 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 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.

Content

The shares of Class C 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 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.