Fundamental Global (FGF) executive Swets received 1,532 shares

Insider transactions reported

Larry G Swets Jr (Head of Merchant Banking at Fundamental Global Inc., FGF) reported that they received 1,532 shares on Apr 1, 2024. After these transactions the filing shows 521,015 shares held directly.

Reporting person

Swets Larry G Jr

Role

Head of Merchant Banking

Holdings before and after

• Common Stock: 519,483 to 521,015 direct

Other positions listed

• Common Stock: 537,069 direct
• 8.00% Cumulative Preferred Stock, Series A, $25.00 par value: 10,000 direct

Footnotes from the filing

1. 1. Shares were purchased within the Fundamental Global, Inc. Employee Share Purchase Plan.
2. 2. On January 3, 2024, Fundamental Global Inc. (f/k/a FG Financial Group, Inc., the Parent ), FG Group LLC (the Acquiror ), and FG Group Holdings Inc. (the Company ) entered into a Plan of Merger (the Merger Agreement ), pursuant to which the Company merged with and into the Acquiror, with the Acquiror surviving the merger as a wholly owned subsidiary of the Parent (the Merger ). On February 29, 2024, at approximately 4:05 PM Eastern time, the effective time of the Merger (the Effective Time ), all of the outstanding shares of common stock of the Company ( Company Common Stock ) were converted into shares of common stock of the Parent ( Parent Common Stock ) on a 1:1 basis (the Exchange Ratio ) pursuant to the terms of the Merger Agreement.
3. 3. Received in the Merger in exchange for an equal number of shares of Company Common Stock.
4. 4. Includes (i) 7,722 RSUs granted on August 13, 2019 under the 2018 Equity Incentive Plan as director compensation (of which 6,178 have vested to date), (ii) 370,000 RSUs granted on February 17, 2023 under the 2021 Equity Incentive Plan (of which 370,000 have vested to date, but 94,054 withheld from the vested RSU for taxes) pursuant to Equity Award Letter Agreement dated January 18, 2021, and (iii) 130,000 RSU granted on February 17, 2023 under the 2021 Equity Incentive Plan (of which 86,667 have vested to date, but 25,659 withheld from the vested RSU for taxes ) for performance related to fiscal year 2022. Each RSU represents a contingent right to receive one share of Parent Common Stock.
5. 5. Received in the Merger in exchange for Restricted Share Units (RSUs) convertible into shares of Company Common Stock (a Company RSU ). At the Effective Time, each Company RSU was converted into an RSU to acquire the number of shares of Parent Common Stock (a Parent RSU ) equal to the product of (i) the number of shares subject to such Company RSU as of immediately prior to the Effective Time, multiplied by (ii) the Exchange Ratio.
6. 6. The Parent RSUs will vest in full on the first anniversary of the grant date, which was July 3, 2023, subject to continuous service through such vesting date.
7. 7. The stock options become vested and fully exercisable in 20% increments on each anniversary of the grant date, provided that Mr. Swets remains in the continuous service of the Issuer through each applicable vesting date and that the Issuer's book value per share has increased by 15% or more as compared to the Issuer's book value per share as of the fiscal year end prior.

Transaction codes in this filing

Grant or award:

Code A marks a grant or award from the company under an exempt employee or director plan. Usually nothing is paid for it.

FAQ