FG Nexus Inc. — Director's Dealing 2020

Aug 15, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: 1347 Property Insurance Holdings, Inc. (PIH)
CIK: 0001591890
Period of Report: 2020-08-12

Reporting Person: Cerminara Kyle (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-08-12	Common Stock	A	8714	—	Acquired	32149	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1907184	Indirect
Common Stock	1038409	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Call Option (right to buy)	$6	2022-04-16	Common Stock (100000)	100000	Indirect

Footnotes

F1: Represents restricted stock units ("RSUs") granted under the 2018 Equity Incentive Plan as director compensation. RSUs vest in five annual equal installments, subject to continued service with the Company, beginning on the first anniversary of the grant date. Each RSU represents a contingent right to receive one share of common stock of the Company.

F2: Includes 3,333 shares held in a joint account with spouse, remaining 4,000 RSUs granted on December 15, 2017 under the Amended and Restated 2014 Equity Incentive Plan pursuant to the share-matching program (also includes shares received pursuant to the 2,666 RSUs that have vested to date under this grant), remaining 4,572 RSUs granted on August 22, 2018 under the 2018 Equity Incentive Plan as director compensation (also includes shares received pursuant to the 1,142 RSUs that have vested to date under this grant), and the remaining 6,178 RSUs granted on August 13, 2019 under the 2018 Equity Incentive Plan as director compensation (also includes shares received pursuant to the 1,544 RSUs that have vested to date under this grant). RSUs vest in five annual equal installments, subject to continued service with the Company, beginning on the first anniversary of the grant date. Each RSU represents a contingent right to receive one share of common stock of the Company.

F3: Held by the Fundamental Global entities. In addition, CWA, of which 50% is owned by Fundamental Global Investors, LLC, holds 64,583 shares of Common Stock for the accounts of individual investors (excluding the 3,333 shares held at CWA by Mr. Cerminara in a joint account with his spouse). Fundamental Global also beneficially holds in the aggregate 35,210 shares of 8.00% cumulative preferred stock, Series A, par value of $25.00 per share ("preferred stock"). In addition, for the accounts of individual investors, CWA holds 32,697 shares of preferred stock, including 44 shares of preferred stock held by Mr. Cerminara in a joint account with his spouse. Due to his positions with Fundamental Global Investors, LLC and other Fundamental Global entities, Mr. Cerminara may be deemed to be a beneficial owner of Common Stock held by Fundamental Global. Mr. Cerminara disclaims any beneficial ownership of the shares referenced to herein except to the extent of his pecuniary interest therein.

F4: Held by Ballantyne Strong, Inc. ("BTN"). Due to his positions with BTN, Mr. Cerminara may be deemed to be a beneficial owner of Common Stock held by BTN. Mr. Cerminara disclaims any beneficial ownership of the shares referenced to herein except to the extent of his pecuniary interest therein.

F5: Represents a call option to purchase shares of Common Stock for a purchase price of $6.00 per share. The shares subject to the call option may be acquired at any time during the two-year period beginning on April 16, 2020, ending at 5:00 p.m. Eastern time on April 16, 2022.