Kingstone Companies Amends Fortunoff Agreement
Ticker: KINS · Form: 8-K · Filed: Dec 12, 2024 · CIK: 33992
Sentiment: neutral
Topics: agreement-amendment, material-agreement
TL;DR
KINGSTONE amended the Fortunoff Agreement on Dec 11, 2024.
AI Summary
On December 11, 2024, KINGSTONE COMPANIES, INC. filed an 8-K detailing an amendment to the Fortunoff Agreement. The filing indicates a material definitive agreement was entered into, though specific financial details or parties involved in the amendment are not elaborated upon in the provided text.
Why It Matters
Amendments to material agreements can significantly impact a company's operational structure, financial obligations, or strategic direction.
Risk Assessment
Risk Level: low — The filing is a routine update on a material agreement without immediate financial implications disclosed.
Key Players & Entities
- KINGSTONE COMPANIES, INC. (company) — Registrant
- Fortunoff Agreement (agreement) — Subject of amendment
- December 11, 2024 (date) — Date of report
FAQ
What specific changes were made in the amendment to the Fortunoff Agreement?
The provided text states that an amendment to the Fortunoff Agreement was made, but does not specify the details of the changes.
Who are the parties involved in the amended Fortunoff Agreement?
The filing mentions KINGSTONE COMPANIES, INC. as the registrant, but does not explicitly name the other party or parties to the Fortunoff Agreement.
What is the effective date of the amendment to the Fortunoff Agreement?
The filing reports the event as of December 11, 2024, indicating this is the date the amendment was reported or became effective.
Does this amendment to the Fortunoff Agreement have any immediate financial impact on KINGSTONE COMPANIES, INC.?
The provided text does not disclose any immediate financial impact resulting from the amendment.
What is the nature of the Fortunoff Agreement that KINGSTONE COMPANIES, INC. has amended?
The nature of the Fortunoff Agreement is not detailed in the provided excerpt of the 8-K filing.
Filing Stats: 563 words · 2 min read · ~2 pages · Grade level 10.8 · Accepted 2024-12-12 11:24:16
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value per share KINS NASDAQ Cap
Filing Documents
- kins8k.htm (8-K) — 24KB
- ex10_1.htm (EX-10.1) — 32KB
- 0001021771-24-000213.txt ( ) — 187KB
- kins-20241211.xsd (EX-101.SCH) — 4KB
- kins-20241211_lab.xml (EX-101.LAB) — 21KB
- kins-20241211_pre.xml (EX-101.PRE) — 16KB
- kins8k_htm.xml (XML) — 4KB
01
Item 1.01 Entry into a Material Definitive Agreement . On December 11, 2024, Kingstone Companies, Inc. (the "Company") entered into an amendment (the "Amendment") to its agreement, dated as of March 3, 2023 (the "Agreement"), with Gregory Fortunoff ("G. Fortunoff") and Scott Fortunoff, shareholders of the Company (the "Fortunoffs"). The Agreement had provided for, among other things, the grant to G. Fortunoff of Board observer status. Pursuant to the Amendment, the Fortunoffs indicated that, based upon the recent performance of the Company, they believe that there is no need for the continuation of G. Fortunoff's Board observer status. Accordingly, pursuant to the Amendment, G. Fortunoff relinquished his right to serve as an observer to the Company's Board of Directors or be nominated for a Board position. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment filed as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated by reference herein.
Financial Statements and Exhibits
Financial Statements and Exhibits . (d) Exhibits . 10.1 Amendment No. 1, dated as of December 9, 2024, to Agreement, dated as of March 3, 2023, by and among Kingstone Companies, Inc., Gregory Fortunoff and Scott Fortunoff
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: December 11, 2024 By: /s/ Meryl Golden Meryl Golden Chief Executive Officer