Kingstone Companies Appoints New Director
Ticker: KINS · Form: 8-K · Filed: Apr 11, 2024 · CIK: 33992
Sentiment: neutral
Topics: board-appointment, governance
TL;DR
Kingstone adds insurance vet McTamaney to board, boosting financial oversight.
AI Summary
Kingstone Companies, Inc. announced on April 9, 2024, the appointment of Mr. Robert J. McTamaney as a new Class III director to its Board of Directors, effective immediately. Mr. McTamaney will serve on the Audit Committee and the Compensation Committee. He has extensive experience in the insurance industry, previously serving as Chief Financial Officer of The Hanover Insurance Group.
Why It Matters
The addition of a new director with financial and insurance expertise could signal a strategic shift or enhanced oversight for Kingstone Companies.
Risk Assessment
Risk Level: low — The filing reports a routine board appointment, which typically carries low risk.
Key Players & Entities
- Kingstone Companies, Inc. (company) — Registrant
- Robert J. McTamaney (person) — Newly appointed director
- The Hanover Insurance Group (company) — Previous employer of new director
FAQ
When was Robert J. McTamaney appointed to the board?
Mr. Robert J. McTamaney was appointed to the board effective April 9, 2024.
What committees will Mr. McTamaney serve on?
Mr. McTamaney will serve on the Audit Committee and the Compensation Committee.
What was Mr. McTamaney's previous role?
Mr. McTamaney previously served as Chief Financial Officer of The Hanover Insurance Group.
What is Kingstone Companies' state of incorporation?
Kingstone Companies, Inc. is incorporated in Delaware.
What is the principal executive office address for Kingstone Companies?
The principal executive offices are located at 15 Joys Lane, Kingston, New York 12401.
Filing Stats: 869 words · 3 min read · ~3 pages · Grade level 12.2 · Accepted 2024-04-10 18:24:42
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value per share KINS NASDAQ Cap
Filing Documents
- form8k.htm (8-K) — 27KB
- ex99_1.htm (EX-99.1) — 1KB
- kinspr_1.jpg (GRAPHIC) — 970KB
- kinspr_2.jpg (GRAPHIC) — 349KB
- 0001021771-24-000093.txt ( ) — 1978KB
- kins-20240409.xsd (EX-101.SCH) — 4KB
- kins-20240409_lab.xml (EX-101.LAB) — 22KB
- kins-20240409_pre.xml (EX-101.PRE) — 16KB
- form8k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (d) On April 9, 2024, Manmohan Singh was appointed a director of Kingstone Companies, Inc. (the "Company"). Mr. Singh was appointed pursuant to the provisions of the Note and Warrant Exchange Agreement, dated as of December 9, 2022, between the Company and the purchaser signatories thereto (the "Exchange Agreement"), whereby the holders of a majority of the aggregate principal amount of the promissory notes issued pursuant to the Exchange Agreement (the Notes") were granted the right to nominate one person to serve as a member of the Board of Directors of the Company. Such nomination right will cease at such time as the Notes are no longer outstanding. Mr. Singh is the Group Chief Financial Officer and Head of Corporate Development for Angel Oak Companies, overseeing financial operations, including accounting and treasury, for all of Angel Oak's subsidiaries. He is also a member of the Angel Oak Enterprise Risk Management Committee. Previously, he was a Director in the Insurance Investment Banking team at New York-based Sandler O'Neill & Partners, which was an investment bank specializing in financial institutions that merged with Piper Jaffray Companies to form Piper Sandler Companies. During his 12 years with Sandler O'Neill, Mr. Singh worked extensively in the insurance sector, advising them on capital raising and merger and acquisition related matters. Manu has been involved with several key merger and acquisition transactions, including those involving private equity buyers and alternative asset managers making forays into the life and annuity sector. Mr. Singh holds a Master of Business Administration degree from the Indiana University Kelley School of Business, a Master of Science degree in Finance from the Department of Financial Studies at the University of Delhi, and a Bachelor of Engineering degre
01
Item 7.01 Regulation FD Disclosure . On April 10, 2024, the Company issued a press release (the "Press Release") announcing the appointment of Mr. Singh to the Board of Directors of the Company. A copy of the Press Release is furnished as Exhibit 99.1 hereto. The information in the Press Release is being furnished, not filed, pursuant to this Item 7.01. Accordingly, the information in the Press Release will not be incorporated by reference into any registration statement filed by the Company under the Securities Act unless specifically identified therein as being incorporated therein by reference. The furnishing of the information in this Current Report on Form 8-K with respect to the Press Release is not intended to, and does not, constitute a determination or admission by the Company that the information in this Report with respect to the Press Release is material or complete, or that investors should consider this information before making an investment decision with respect to any security of the Company.
Financial Statements and Exhibits
Financial Statements and Exhibits . (d) Exhibits . 99.1 Press release, dated April 10, 2024, issued by Kingstone Companies, Inc. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KINGSTONE COMPANIES, INC. Dated: April 10, 2024 By: /s/ Meryl Golden Meryl Golden Chief Executive Officer