Kyle Cerminara - Jul 3, 2023 Form 4 Insider Report for FG Group Holdings Inc. (FGH)

Role: Director, 10%+ Owner
Signature: /s/ D. Kyle Cerminara
Stock symbol: FGH
Transactions as of: Jul 3, 2023
Transactions value $: $0
Form type: 4
Date filed: 7/6/2023, 07:49 PM
Previous filing: May 19, 2023
Next filing: Oct 31, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FGH	Common Stock	Award	$0	+26K	+6.94%	$0.00	401K	Jul 3, 2023	Direct	F1
holding	FGH	Common Stock						7.54K	Jul 3, 2023	By 401(k) Plan
holding	FGH	Common Stock						11.2K	Jul 3, 2023	By Spouse
holding	FGH	Common Stock						4.22K	Jul 3, 2023	By Minor Children
holding	FGH	Common Stock						5.14M	Jul 3, 2023	Fundamental Global	F2

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

Explanation of Responses:

Id	Content
F1	Restricted Share Units (RSUs) granted as non-employee director compensation pursuant to the 2017 Omnibus Equity Compensation Plan. These 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.
F2	The partnerships managed by Fundamental Global GP, LLC ("Fundamental Global"), including Ballantyne Strong Holdings, LLC, and Fundamental Global Holdings, LP, beneficially own in the aggregate 5,137,953 shares of Common Stock, which represent approximately 26.4% of the Company's outstanding shares of Common Stock. Due to his positions with Fundamental Global and other Fundamental Global entities, Mr. Cerminara may be deemed to be a beneficial owner of the shares of Common Stock that may be deemed to be beneficially owned by Fundamental Global. Mr. Cerminara disclaims beneficial ownership of the shares referred to herein except to the extent of his pecuniary interest therein.

Content

Restricted Share Units (RSUs) granted as non-employee director compensation pursuant to the 2017 Omnibus Equity Compensation Plan. These 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.

The partnerships managed by Fundamental Global GP, LLC ("Fundamental Global"), including Ballantyne Strong Holdings, LLC, and Fundamental Global Holdings, LP, beneficially own in the aggregate 5,137,953 shares of Common Stock, which represent approximately 26.4% of the Company's outstanding shares of Common Stock. Due to his positions with Fundamental Global and other Fundamental Global entities, Mr. Cerminara may be deemed to be a beneficial owner of the shares of Common Stock that may be deemed to be beneficially owned by Fundamental Global. Mr. Cerminara disclaims beneficial ownership of the shares referred to herein except to the extent of his pecuniary interest therein.