Terence Michael Kavanagh - 24 Sep 2024 Form 4/A - Amendment Insider Report for KINGSWAY FINANCIAL SERVICES INC (KFS)

Role: Director
Signature: /s/ Debra S. Rouse, attorney-in-fact for Terence Michael Kavanagh
Issuer symbol: KFS
Transactions as of: 24 Sep 2024
Transactions value $: $2,000,000
Form type: 4/A - Amendment
Filing time: 18 Feb 2025, 16:09:12 UTC
Date Of Original Report: 26 Sep 2024
Previous filing: 22 Jun 2023
Next filing: 14 Feb 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 B Preferred Stock	Award	$2M	+80K		$25.00	80K	24 Sep 2024	Common Stock	211K	$9.50	By Oakmont Capital Inc.	F1, F2

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

Explanation of Responses:

Id	Content
F1	The shares of Class B 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 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.
F2	This Form 4 amendment is adjusting the conversion basis to display results with five decimal places instead of the previous four due to a software glitch.

Content

The shares of Class B 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 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.

This Form 4 amendment is adjusting the conversion basis to display results with five decimal places instead of the previous four due to a software glitch.