Joshua Horowitz - Mar 31, 2025 Form 3 Insider Report for KINGSWAY FINANCIAL SERVICES INC (KFS)

Role
Director
Signature
/s/ Debra Rouse, attorney-in-fact for Joshua Horowitz
Stock symbol
KFS
Transactions as of
Mar 31, 2025
Transactions value $
$0
Form type
3
Date filed
4/8/2025, 04:00 PM
Previous filing
Mar 14, 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding KFS Common Stock 10K Mar 31, 2025 Direct
holding KFS Common Stock 115K Mar 31, 2025 by Palm Global Small Cap Master Fund LP F1

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
holding KFS Stock Option (Right to Buy) Mar 31, 2025 Common Stock 22.5K $8.25 Direct F2
holding KFS Stock Option (Right to Buy) Mar 31, 2025 Common Stock 253K $8.25 by Palm Global Small Cap Master Fund LP F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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 shares of common stock 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 shares of common stock 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.
F2 Mr. Horowitz and Palm Global have entered into an option agreement, dated March 31, 2025, with Stilwell Value LLC, to acquire 22,500 and 252,500 shares of common stock, respectively, at an exercise price of $8.25 per share, which options are exercisable by Mr. Horowitz and Palm Global together in whole, and not in part, on December 29, 2025 and expire at 5:00 p.m. Eastern Time on December 29, 2025.

Remarks:

Power of attorney is attached hereto as Exhibit 24