Kingsway director buys 9K shares around $9.80
KINGSWAY Corp (KWY) director Joshua Horowitz reported indirect open-market purchases of Common Stock through Palm Global Small Cap Master Fund LP on August 18–20, 2026, totaling 9,103 shares at weighted-average prices around $9.75–$9.89 per share.
Rhea-AI Filing Summary
KINGSWAY Corp (KWY) director Joshua Horowitz reported indirect open-market purchases of Common Stock through Palm Global Small Cap Master Fund LP on August 18–20, 2026, totaling 9,103 shares at weighted-average prices around $9.75–$9.89 per share. Horowitz also reports 32,500 Common shares held directly and an indirect derivative position in Class D Preferred Stock convertible into 36,842.4 Common shares at a $9.50 conversion price. Palm Management (US) LLC and Horowitz may be deemed beneficial owners of Palm Global’s holdings but each disclaims beneficial ownership except to the extent of pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 9,103 shares
Net Buy
5 txns
Insider
Horowitz Joshua
Role
Director
Bought
9,103 shs ($89K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock F2 | 769 | $9.89 | $8K |
| Purchase | Common Stock F3, F2 | 7,034 | $9.8384 | $69K |
| Purchase | Common Stock F2 | 1,300 | $9.75 | $13K |
| holding | Class D Preferred Stock F1, F2 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 381,103 shares (Indirect, by Palm Global Small Cap Master Fund LP);
Class D Preferred Stock — 36,842.4 contracts (Indirect, Palm Global Small Cap Master Fund LP);
Common Stock — 32,500 shares (Direct)
Footnotes (3)
- F1. The shares of Class D Preferred Stock, par value $0.01 per share (the "Class D Preferred Stock"), of Kingsway Corporation (the "Company") have a stated value of $25 per share and are convertible at any time, at the holder's option, into shares of Common Stock, par value $0.01 per share, of the Company (the "Common Stock") at an initial conversion price of $9.50 per share (or 2.6316 shares of Common Stock for each share of Class D Preferred Stock), subject to customary adjustments. The Company has the option to redeem 25% of the outstanding shares of Class D Preferred Stock for cash upon the occurrence of certain events. All then-outstanding shares of Class D Preferred Stock shall be redeemed by the Company for cash on May 8, 2032.
- F2. 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 securities 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 securities 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.
- F3. The price reported represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $9.82 to $9.86 per share. The Reporting Person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price.
Key Figures
Common Stock purchased: 9,103 shares
Purchase price on 2026-08-20: $9.89 per share
Weighted average price on 2026-08-19: $9.8384 per share
+5 more
8 metrics
Common Stock purchased
9,103 shares
Indirect open-market purchases on August 18–20, 2026
Purchase price on 2026-08-20
$9.89 per share
769 Common shares indirectly purchased
Weighted average price on 2026-08-19
$9.8384 per share
7,034 Common shares indirectly purchased in multiple trades $9.82–$9.86
Purchase price on 2026-08-18
$9.75 per share
1,300 Common shares indirectly purchased
Direct Common Stock holdings
32,500 shares
Common Stock held directly by Joshua Horowitz as of 2026-08-18
Class D Preferred conversion price
$9.50 per share
Initial conversion price into KINGSWAY Corp Common Stock
Underlying Common shares from Class D Preferred
36,842.4 shares
Indirect position via Class D Preferred Stock held by Palm Global
Class D Preferred stated value
$25 per share
Stated value of KINGSWAY Corp Class D Preferred Stock
Key Terms
Class D Preferred Stock, stated value, conversion price, beneficial owner, +1 more
5 terms
Class D Preferred Stock financial
"The shares of Class D Preferred Stock, par value $0.01 per share..."
stated value financial
"have a stated value of $25 per share and are convertible..."
Stated value is an accounting figure a company assigns to a share when the share has no par (legal) value; it becomes the portion of proceeds recorded as the company’s permanent capital for regulatory and bookkeeping purposes. It matters to investors because it affects the equity reported on the balance sheet and the legal limits on distributions or dividend payments, but it is not the market price — think of it as a record-keeping sticker price rather than what buyers actually pay.
conversion price financial
"convertible...into shares of Common Stock...at an initial conversion price of $9.50"
The conversion price is the fixed price at which a convertible security, like a bond or preferred stock, can be exchanged for shares of common stock. It acts like a set rate that determines how many shares an investor can receive if they choose to convert their investment. This helps investors understand the value and potential benefits of converting their securities into company shares.
beneficial owner financial
"may be deemed to be a beneficial owner of the securities disclosed..."
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
pecuniary interest financial
"disclaim such beneficial ownership except to the extent of their pecuniary interest therein"
FAQ
What Common Stock did Joshua Horowitz report buying in KWY?
Joshua Horowitz reported indirect purchases of 9,103 shares of KINGSWAY Corp Common Stock through Palm Global Small Cap Master Fund LP on August 18–20, 2026 at weighted-average prices between about $9.75 and $9.89 per share.
What are Joshua Horowitz’s reported direct Common Stock holdings in KWY?
Joshua Horowitz reports 32,500 shares of KINGSWAY Corp Common Stock held directly as of August 18, 2026. Additional Common Stock exposure is held indirectly through Palm Global Small Cap Master Fund LP.
How is the Class D Preferred Stock of KINGSWAY Corp structured?
Each share of Class D Preferred Stock has a $25 stated value and is convertible into 2.6316 KINGSWAY Corp Common shares, reflecting a $9.50 per-share conversion price. The company may redeem 25% of outstanding Class D Preferred in certain events and must redeem all by May 8, 2032.
Does Joshua Horowitz claim full beneficial ownership of Palm Global’s KWY holdings?
No. Palm Management (US) LLC and Joshua Horowitz state they may be deemed beneficial owners of KINGSWAY-related securities held by Palm Global Small Cap Master Fund LP but each expressly disclaims beneficial ownership except to the extent of pecuniary interest.
AI-generated analysis. How Rhea-AI works. Not financial advice.
