MARK E. SCHWARZ - 31 May 2022 Form 4 Insider Report for HALLMARK FINANCIAL SERVICES INC

Role: Chairman & CEO, Director, 10%+ Owner
Signature: Steven D. Davidson as Attorney-in-Fact for each Reporting Person
Issuer symbol: HALL on OTC
Transactions as of: 31 May 2022
Net transactions value: +$1,049
Form type: 4
Filing time: 02 Jun 2022, 16:48:28 UTC
Previous filing: 26 May 2022
Next filing: 09 Jun 2022
SEC: View on sec.gov

This filing has been restated, see here for the amended filing

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HALL	Common Stock	Purchase	$1,049	+1,179	+0.04%	$0.8900	3,079,873	31 May 2022	Directly owned by Newcastle Partners, L.P.	F1
holding	HALL	Common Stock						140,691	31 May 2022	Direct

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	HALL	Director Stock Option (right to buy)						40,000	31 May 2022	Common Stock	40,000	$3.95	Direct
holding	HALL	Director Stock Option (right to buy)						15,000	31 May 2022	Common Stock	15,000	$3.11	Direct

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

Explanation of Responses:

Id	Content
F1	Mr. Schwarz is the sole trustee of the Schwarz 2012 Family Trust (the "Trust") and a director and officer of NCM Services, Inc. ("NCMS"). The Trust is the sole shareholder of NCMS, which is the sole member of Newcastle Capital Group, L.L.C. ("NCG"), which is the general partner of Newcastle Capital Management, L.P. ("NCM"), which is the general partner of Newcastle Partners, L.P. ("NP"). Accordingly, Mr. Schwarz may be deemed the beneficial owner of all shares held by any of the Trust, NCMS, NCG, NCM or NP.

Content

Mr. Schwarz is the sole trustee of the Schwarz 2012 Family Trust (the "Trust") and a director and officer of NCM Services, Inc. ("NCMS"). The Trust is the sole shareholder of NCMS, which is the sole member of Newcastle Capital Group, L.L.C. ("NCG"), which is the general partner of Newcastle Capital Management, L.P. ("NCM"), which is the general partner of Newcastle Partners, L.P. ("NP"). Accordingly, Mr. Schwarz may be deemed the beneficial owner of all shares held by any of the Trust, NCMS, NCG, NCM or NP.