<SEC-DOCUMENT>0001420506-21-000816.txt : 20210528
<SEC-HEADER>0001420506-21-000816.hdr.sgml : 20210528
<ACCEPTANCE-DATETIME>20210528142638
ACCESSION NUMBER:		0001420506-21-000816
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210526
FILED AS OF DATE:		20210528
DATE AS OF CHANGE:		20210528

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BK Technologies Corp
		CENTRAL INDEX KEY:			0000002186
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663]
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36366
		FILM NUMBER:		21979233

	BUSINESS ADDRESS:	
		STREET 1:		7100 TECHNOLOGY DRIVE
		CITY:			WEST MELBOURNE
		STATE:			FL
		ZIP:			32904
		BUSINESS PHONE:		321-984-1414

	MAIL ADDRESS:	
		STREET 1:		7100 TECHNOLOGY DRIVE
		CITY:			WEST MELBOURNE
		STATE:			FL
		ZIP:			32904

	FORMER NAME:	
		FORMER CONFORMED NAME:	BK Technologies, Inc.
		DATE OF NAME CHANGE:	20180604

	FORMER NAME:	
		FORMER CONFORMED NAME:	RELM WIRELESS CORP
		DATE OF NAME CHANGE:	19980129

	FORMER NAME:	
		FORMER CONFORMED NAME:	ADAGE INC
		DATE OF NAME CHANGE:	19920703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BALLANTYNE STRONG, INC.
		CENTRAL INDEX KEY:			0000946454
		STANDARD INDUSTRIAL CLASSIFICATION:	PHOTOGRAPHIC EQUIPMENT & SUPPLIES [3861]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36366
		FILM NUMBER:		21979234

	BUSINESS ADDRESS:	
		STREET 1:		4201 CONGRESS STREET
		STREET 2:		SUITE 175
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28209
		BUSINESS PHONE:		(704) 994-8279

	MAIL ADDRESS:	
		STREET 1:		4201 CONGRESS STREET
		STREET 2:		SUITE 175
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28209

	FORMER NAME:	
		FORMER CONFORMED NAME:	BALLANTYNE OF OMAHA INC
		DATE OF NAME CHANGE:	19950608

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MOGLIA JOSEPH H
		CENTRAL INDEX KEY:			0001187586

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36366
		FILM NUMBER:		21979236

	MAIL ADDRESS:	
		STREET 1:		AMERITRADE HOLDING CORP
		STREET 2:		4211 S 102ND ST
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68127

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Cerminara Kyle
		CENTRAL INDEX KEY:			0001619991

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36366
		FILM NUMBER:		21979238

	MAIL ADDRESS:	
		STREET 1:		C/O FUNDAMENTAL GLOBAL INVESTORS, LLC
		STREET 2:		4201 CONGRESS STREET, SUITE 140
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28209

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Fundamental Global Investors, LLC
		CENTRAL INDEX KEY:			0001591508
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36366
		FILM NUMBER:		21979239

	BUSINESS ADDRESS:	
		STREET 1:		136 CORPORATE PARK DRIVE, SUITE G
		CITY:			MOORESVILLE
		STATE:			NC
		ZIP:			28117
		BUSINESS PHONE:		888-838-6326

	MAIL ADDRESS:	
		STREET 1:		136 CORPORATE PARK DRIVE, SUITE G
		CITY:			MOORESVILLE
		STATE:			NC
		ZIP:			28117

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Johnson Lewis M
		CENTRAL INDEX KEY:			0001619951

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36366
		FILM NUMBER:		21979237

	MAIL ADDRESS:	
		STREET 1:		C/O FUNDAMENTAL GLOBAL INVESTORS, LLC
		STREET 2:		4201 CONGRESS STREET, SUITE 140
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28209

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FG Financial Group, Inc.
		CENTRAL INDEX KEY:			0001591890
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				461119100
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		970 LAKE CARILLON DR.
		STREET 2:		SUITE 318
		CITY:			ST. PETERSBURG
		STATE:			FL
		ZIP:			33716
		BUSINESS PHONE:		813-579-6213

	MAIL ADDRESS:	
		STREET 1:		970 LAKE CARILLON DR.
		STREET 2:		SUITE 318
		CITY:			ST. PETERSBURG
		STATE:			FL
		ZIP:			33716

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	1347 Property Insurance Holdings, Inc.
		DATE OF NAME CHANGE:	20131113
</SEC-HEADER>
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        <issuerCik>0001591890</issuerCik>
        <issuerName>FG Financial Group, Inc.</issuerName>
        <issuerTradingSymbol>FGF</issuerTradingSymbol>
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            <rptOwnerName>Fundamental Global Investors, LLC</rptOwnerName>
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            <rptOwnerStreet2>SUITE 204</rptOwnerStreet2>
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    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001619991</rptOwnerCik>
            <rptOwnerName>Cerminara Kyle</rptOwnerName>
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        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O FUNDAMENTAL GLOBAL INVESTORS, LLC</rptOwnerStreet1>
            <rptOwnerStreet2>108 GATEWAY BOULEVARD, SUITE 204</rptOwnerStreet2>
            <rptOwnerCity>MOORESVILLE</rptOwnerCity>
            <rptOwnerState>NC</rptOwnerState>
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            <rptOwnerName>Johnson Lewis M</rptOwnerName>
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        <reportingOwnerAddress>
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            <rptOwnerStreet2>108 GATEWAY BOULEVARD, SUITE 204</rptOwnerStreet2>
            <rptOwnerCity>MOORESVILLE</rptOwnerCity>
            <rptOwnerState>NC</rptOwnerState>
            <rptOwnerZipCode>28117</rptOwnerZipCode>
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    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001187586</rptOwnerCik>
            <rptOwnerName>MOGLIA JOSEPH H</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O FUNDAMENTAL GLOBAL INVESTORS, LLC</rptOwnerStreet1>
            <rptOwnerStreet2>108 GATEWAY BOULEVARD, SUITE 204</rptOwnerStreet2>
            <rptOwnerCity>MOORESVILLE</rptOwnerCity>
            <rptOwnerState>NC</rptOwnerState>
            <rptOwnerZipCode>28117</rptOwnerZipCode>
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    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000946454</rptOwnerCik>
            <rptOwnerName>BALLANTYNE STRONG, INC.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>4201 CONGRESS STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 175</rptOwnerStreet2>
            <rptOwnerCity>CHARLOTTE</rptOwnerCity>
            <rptOwnerState>NC</rptOwnerState>
            <rptOwnerZipCode>28209</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000002186</rptOwnerCik>
            <rptOwnerName>BK Technologies Corp</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>7100 TECHNOLOGY DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WEST MELBOURNE</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>32904</rptOwnerZipCode>
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    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>COMMON STOCK, PAR VALUE $0.01 PER SHARE</value>
            </securityTitle>
            <transactionDate>
                <value>2021-05-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5296</value>
                    <footnoteId id="F6"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>8.095</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8296</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>FUNDAMENTAL GLOBAL CAPITAL APPRECIATION FUND, LP</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>COMMON STOCK, PAR VALUE $0.01 PER SHARE</value>
            </securityTitle>
            <transactionDate>
                <value>2021-05-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5296</value>
                    <footnoteId id="F6"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>8.095</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
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            <ownershipNature>
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                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>FGI GLOBAL ASSET ALLOCATION FUND, LTD.</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>COMMON STOCK, PAR VALUE $0.01 PER SHARE</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>788199</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>FUNDAMENTAL ACTIVIST FUND I, LP</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>COMMON STOCK, PAR VALUE $0.01 PER SHARE</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>628875</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F4"/>
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            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>FUNDAMENTAL GLOBAL PARTNERS MASTER FUND, LP</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>COMMON STOCK, PAR VALUE $0.01 PER SHARE</value>
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                <sharesOwnedFollowingTransaction>
                    <value>4532</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F4"/>
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                <directOrIndirectOwnership>
                    <value>I</value>
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                <natureOfOwnership>
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            </ownershipNature>
        </nonDerivativeHolding>
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            <securityTitle>
                <value>COMMON STOCK, PAR VALUE $0.01 PER SHARE</value>
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                <sharesOwnedFollowingTransaction>
                    <value>477282</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                    <footnoteId id="F4"/>
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            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>FGI 1347 HOLDINGS, LP</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>COMMON STOCK, PAR VALUE $0.01 PER SHARE</value>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1038409</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F4"/>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>BALLANTYNE STRONG, INC.</value>
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            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>8.00% Cumulative Preferred Stock, Series A, $25.00 par value</value>
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                <sharesOwnedFollowingTransaction>
                    <value>34620</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
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                <directOrIndirectOwnership>
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                <natureOfOwnership>
                    <value>FUNDAMENTAL GLOBAL PARTNERS MASTER FUND, LP</value>
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        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>8.00% Cumulative Preferred Stock, Series A, $25.00 par value</value>
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                <sharesOwnedFollowingTransaction>
                    <value>590</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
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        </nonDerivativeHolding>
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    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>CALL OPTION (RIGHT TO BUY)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>6</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2020-04-16</value>
            </exerciseDate>
            <expirationDate>
                <value>2022-04-16</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>COMMON STOCK</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>50000</value>
                    <footnoteId id="F5"/>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>FUNDAMENTAL GLOBAL PARTNERS MASTER FUND, LP</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>CALL OPTION (RIGHT TO BUY)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>6</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2020-04-16</value>
            </exerciseDate>
            <expirationDate>
                <value>2022-04-16</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>COMMON STOCK</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>50000</value>
                    <footnoteId id="F5"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>FUNDAMENTAL ACTIVIST FUND I, LP</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The Reporting Persons beneficially own in the aggregate 3,045,593 shares of Common Stock (including 100,000 shares that may be acquired pursuant to a call option), which represent approximately 60.8% of the Company's outstanding shares of Common Stock. Fundamental Global Investors, LLC may be deemed to be a beneficial owner of the shares of Common Stock that are directly owned by Fundamental Global Partners Master Fund, LP (&quot;FGPM&quot;), FGI Global Asset Allocation Fund, Ltd. (&quot;FGAA&quot;), FGI Global Asset Allocation Master Fund, LP (&quot;FGGM&quot;), Fundamental Activist Fund I, LP (&quot;FAFI&quot;), FGI 1347 Holdings, LP (&quot;FGIH&quot;), Fundamental Global Capital Appreciation Fund, LP (&quot;FGCA&quot;) and Ballantyne Strong, Inc. (&quot;BTN&quot;). Mr. Cerminara holds 11,162 shares of Common Stock and restricted stock units representing the right to receive 20,987 shares of Common Stock upon vesting. In addition, Mr. Johnson holds 32,149 shares of Common Stock.</footnote>
        <footnote id="F2">BK Technologies Corporation (&quot;BKTI&quot;) is the sole limited partner of FGIH. Mr. Cerminara is Member of the Board of Directors of BKTI.</footnote>
        <footnote id="F3">The Reporting Persons beneficially own in the aggregate 35,210 shares of Preferred Stock, which represent approximately 4.1% of the outstanding shares of Preferred Stock. Fundamental Global Investors, LLC may be deemed to be a beneficial owner of the shares of Preferred Stock that are directly owned by FGPM and FGCA. In addition, Mr. Cerminara owns 44 shares of Preferred Stock in a joint account with his spouse.</footnote>
        <footnote id="F4">Due to their positions with Fundamental Global Investors, LLC and affiliated entities, Messrs. 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 FGPM, FGAA, FGGM, FAFI, FGIH and FGCA and the shares of Preferred Stock disclosed as directly owned by FGPM and FGCA. Due to their positions with BTN, Fundamental Global Investors, LLC and affiliated entities, Messrs. Cerminara and Johnson may be deemed to be beneficial owners of the shares of Common Stock disclosed as directly owned by BTN. Each Reporting Person disclaims beneficial ownership of the shares referred to herein except to the extent of his or its pecuniary interest therein.</footnote>
        <footnote id="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.</footnote>
        <footnote id="F6">Represents a cross-trade between FGAA and FGCA, in which FGAA disposed of and FGCA acquired the reported shares.  Accordingly, there was no change in the aggregate beneficial ownership of the Reporting Persons.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>FUNDAMENTAL GLOBAL INVESTORS, LLC/S/ D. KYLE CERMINARA, CHIEF EXECUTIVE OFFICER, PARTNER AND MANAGER</signatureName>
        <signatureDate>2021-05-28</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>BALLANTYNE STRONG, INC. /S/ MARK D. ROBERSON, CHIEF EXECUTIVE OFFICER</signatureName>
        <signatureDate>2021-05-28</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>BK TECHNOLOGIES CORPORATION /S/ WILLIAM P. KELLY, EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER</signatureName>
        <signatureDate>2021-05-28</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/S/ D. KYLE CERMINARA</signatureName>
        <signatureDate>2021-05-28</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/S/ LEWIS M. JOHNSON</signatureName>
        <signatureDate>2021-05-28</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/S/ JOSEPH H. MOGLIA</signatureName>
        <signatureDate>2021-05-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
