Fundamental Global Investors, LLC - Jul 22, 2021 Form 4 Insider Report for BK Technologies Corp (BKTI)

Role: 10%+ Owner
Signature: /s/ D. Kyle Cerminara, Chief Executive Officer, Partner and Manager for FUNDAMENTAL GLOBAL INVESTORS, LLC
Stock symbol: BKTI
Transactions as of: Jul 22, 2021
Transactions value $: -$2,000,001
Form type: 4
Date filed: 7/26/2021, 08:30 PM
Previous filing: May 28, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BKTI	Common Stock, par value $0.60 per share	Sale	-$2M	-631K	-29%	$3.17	1.54M	Jul 22, 2021	BK Technologies Holdings, LLC	F1, F2, F3
holding	BKTI	Common Stock, par value $0.60 per share						1.08M	Jul 22, 2021	Fundamental Global Holdings, LP	F2, F3
holding	BKTI	Common Stock, par value $0.60 per share						106K	Jul 22, 2021	FGI Global Asset Allocation Master Fund, LP	F2, F3
holding	BKTI	Common Stock, par value $0.60 per share						8.71K	Jul 22, 2021	Fundamental Global Capital Appreciation Fund, LP	F2, F3

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

Explanation of Responses:

Id	Content
F1	Includes (i) 763,597 shares of common stock, par value $0.60 per share (the "common stock"), of BK Technologies Corp (the "Company") transferred to BK Technologies Holdings, LLC ("BKTH") from Fundamental Activist Fund I, LP on July 22, 2021 and (ii) 1,411,756 shares of common stock transferred to BKTH from Fundamental Global Partners Master Fund, LP on July 22, 2021. Such transfers were exempt from Section 16 pursuant to Rule 16a-13.
F2	The funds managed by Fundamental Global Investors, LLC beneficially own in the aggregate 2,743,406 shares of common stock, which represents approximately 16.3% of the Company's outstanding shares of common stock, as calculated based on public filings made by the Company with the Securities and Exchange Commission. Fundamental Global Investors, LLC may be deemed to be a beneficial owner of the shares of common stock that are directly owned by BKTH, FGI Global Asset Allocation Master Fund, LP ("FGGM"), Fundamental Global Holdings, LP ("FGHP"), and Fundamental Global Capital Appreciation Fund, LP ("FGCA").
F3	Due to their positions with Fundamental Global Investors, LLC and affiliated entities, Messrs. D. Kyle Cerminara, Lewis M. Johnson and Joseph H. Moglia may be deemed to be beneficial owners of the shares of common stock disclosed as directly owned by BKTH, FGGM, FGHP, and FGCA. Each Reporting Person disclaims beneficial ownership of the shares referred to herein except to the extent of his or its pecuniary interest therein. In addition, Mr. Moglia holds 845,813 shares of common stock indirectly through trusts, Moglia Capital, LLC and the Moglia Family Foundation. Mr. Cerminara directly holds 15,062 shares of common stock and 24,505 restricted stock units, which were received as director compensation. Mr. Johnson directly holds 39,567 shares of common stock. In addition, each of Messrs. Cerminara and Johnson holds stock options to purchase 10,000 and 5,000 shares of common stock, respectively.