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Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"derivative":{"exercise_price":4.85,"expiration_date":"2031-12-31","underlying":"Common Stock","underlying_shares":14985},"source":{"system":"sec-edgar","filing":"0001213900-26-106486","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":9,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026106486/ownership.xml","form_type":"4"}},{"id":4632999,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"7.00% Subordinated Convertible Notes due 2031","published_at":"2026-10-03T01:07:04.000Z","date":"2026-09-30","kind":"sale","planned":false,"acquired":false,"price":2725865,"reported_value":801725,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of Common Stock at a conversion price of $4.84648 per share (5.158382 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"price","element":"transactionPricePerShare","label":"F11","text":"The price reported in Column 8 is an aggregate purchase price. 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Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"derivative":{"exercise_price":4.85,"expiration_date":"2031-12-31","underlying":"Common Stock","underlying_shares":165424},"source":{"system":"sec-edgar","filing":"0001213900-26-106486","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":8,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026106486/ownership.xml","form_type":"4"}},{"id":4632998,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"7.00% Subordinated Convertible Notes due 2031","published_at":"2026-10-03T01:07:04.000Z","date":"2026-09-30","kind":"purchase","planned":false,"acquired":true,"price":1287410,"reported_value":378650,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of Common Stock at a conversion price of $4.84648 per share (5.158382 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"price","element":"transactionPricePerShare","label":"F10","text":"The price reported in Column 8 is an aggregate purchase price. These Notes were purchased at a price of $85.00 per $25.00 of aggregate principal amount."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of Common Stock at a conversion price of $4.84648 per share (5.158382 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of Common Stock at a conversion price of $4.84648 per share (5.158382 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F9","text":"Interest on the Notes may be payable, at the Issuer's election, in cash, in shares of Series B Preferred Stock or in shares of Series D Preferred Stock, in each case as set forth in the Notes."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"These securities are owned directly by Stilwell Activist Investments, L.P. (\"SAI\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"derivative":{"exercise_price":4.85,"expiration_date":"2031-12-31","underlying":"Common Stock","underlying_shares":78128},"source":{"system":"sec-edgar","filing":"0001213900-26-106486","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":6,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026106486/ownership.xml","form_type":"4"}},{"id":4632997,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2026-10-03T01:07:04.000Z","date":"2026-09-30","kind":"grant","planned":false,"acquired":true,"shares":19685,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"shares","element":"transactionShares","label":"F7","text":"On September 30, 2026, the Issuer agreed to issue to SAF 19,685 shares of Common Stock in exchange for 3,903 shares of Series B Preferred Stock and 899 shares of Series D Preferred Stock held by SAF (the \"Third SAF Exchange\"). The Issuer did not receive any cash proceeds in the Third SAF Exchange."},{"field":"price","element":"transactionPricePerShare","label":"F7","text":"On September 30, 2026, the Issuer agreed to issue to SAF 19,685 shares of Common Stock in exchange for 3,903 shares of Series B Preferred Stock and 899 shares of Series D Preferred Stock held by SAF (the \"Third SAF Exchange\"). The Issuer did not receive any cash proceeds in the Third SAF Exchange."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"These securities are owned directly by Stilwell Activist Fund, L.P. (\"SAF\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":80969,"source":{"system":"sec-edgar","filing":"0001213900-26-106486","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026106486/ownership.xml","form_type":"4"}},{"id":4632996,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2026-10-03T01:07:04.000Z","date":"2026-09-30","kind":"sale","planned":false,"acquired":false,"shares":5,"price":3.03,"value":15.15,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"shares","element":"transactionShares","label":"F6","text":"This Form 4 reports the sale by SAI on September 30, 2026 of 5 shares of Common Stock at $3.03 per share."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"These securities are owned directly by Stilwell Activist Investments, L.P. (\"SAI\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":584573,"source":{"system":"sec-edgar","filing":"0001213900-26-106486","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026106486/ownership.xml","form_type":"4"}},{"id":4632995,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2026-10-03T01:07:04.000Z","date":"2026-09-30","kind":"grant","planned":false,"acquired":true,"shares":142015,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"shares","element":"transactionShares","label":"F5","text":"On September 30, 2026, the Issuer agreed to issue to SAI 142,015 shares of the Issuer's common stock (\"Common Stock\") in exchange for 26,897 shares of the Issuer's Series B Preferred Stock (\"Series B Preferred Stock\") and 6,801 shares of the Issuer's Series D Cumulative Convertible Preferred Stock (\"Series D Preferred Stock\") held by SAI (the \"Third SAI Exchange\"). The Issuer did not receive any cash proceeds in the Third SAI Exchange."},{"field":"price","element":"transactionPricePerShare","label":"F5","text":"On September 30, 2026, the Issuer agreed to issue to SAI 142,015 shares of the Issuer's common stock (\"Common Stock\") in exchange for 26,897 shares of the Issuer's Series B Preferred Stock (\"Series B Preferred Stock\") and 6,801 shares of the Issuer's Series D Cumulative Convertible Preferred Stock (\"Series D Preferred Stock\") held by SAI (the \"Third SAI Exchange\"). The Issuer did not receive any cash proceeds in the Third SAI Exchange."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"These securities are owned directly by Stilwell Activist Investments, L.P. (\"SAI\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":584578,"source":{"system":"sec-edgar","filing":"0001213900-26-106486","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026106486/ownership.xml","form_type":"4"}},{"id":4627201,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series B Convertible Preferred Stock","published_at":"2026-09-25T22:48:06.000Z","date":"2026-09-23","kind":"disposition_to_issuer","planned":false,"acquired":false,"shares":3517,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F18","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000000001 shares of Common Stock (a conversion price of $2,612,736,000,000 per share of Common Stock). 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Series B Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F18","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000000001 shares of Common Stock (a conversion price of $2,612,736,000,000 per share of Common Stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F18","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000000001 shares of Common Stock (a conversion price of $2,612,736,000,000 per share of Common Stock). Series B Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"These securities are owned directly by Stilwell Activist Fund, L.P. (\"SAF\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":65596,"derivative":{"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-26-103642","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":20,"url":"https://www.sec.gov/Archives/edgar/data/1573720/000121390026103642/ownership.xml","form_type":"4"}},{"id":4627200,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series B Convertible Preferred Stock","published_at":"2026-09-25T22:48:06.000Z","date":"2026-09-23","kind":"disposition_to_issuer","planned":false,"acquired":false,"shares":3270,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F18","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000000001 shares of Common Stock (a conversion price of $2,612,736,000,000 per share of Common Stock). Series B Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F21","text":"The preferred stock disposition was pursuant to the First SAF Exchange."},{"field":"price","element":"transactionPricePerShare","label":"F21","text":"The preferred stock disposition was pursuant to the First SAF Exchange."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F18","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000000001 shares of Common Stock (a conversion price of $2,612,736,000,000 per share of Common Stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F18","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000000001 shares of Common Stock (a conversion price of $2,612,736,000,000 per share of Common Stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F18","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000000001 shares of Common Stock (a conversion price of $2,612,736,000,000 per share of Common Stock). Series B Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"These securities are owned directly by Stilwell Activist Fund, L.P. 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Series B Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F20","text":"The preferred stock disposition was pursuant to the Second SAI Exchange."},{"field":"price","element":"transactionPricePerShare","label":"F20","text":"The preferred stock disposition was pursuant to the Second SAI Exchange."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F18","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000000001 shares of Common Stock (a conversion price of $2,612,736,000,000 per share of Common Stock). 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Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F12","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000000002 shares of Common Stock (a conversion price of $1,107,800,064,000 per share of Common Stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F12","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000000002 shares of Common Stock (a conversion price of $1,107,800,064,000 per share of Common Stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"These securities are owned directly by Stilwell Activist Investments, L.P. (\"SAI\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":134678,"derivative":{"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-26-103642","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":11,"url":"https://www.sec.gov/Archives/edgar/data/1573720/000121390026103642/ownership.xml","form_type":"4"}},{"id":4627192,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2026-09-25T22:48:06.000Z","date":"2026-09-23","kind":"grant","planned":false,"acquired":true,"shares":62829,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"shares","element":"transactionShares","label":"F9","text":"On September 23, 2026, the Issuer agreed to issue to SA 62,829 shares of Common Stock in exchange for 3,222 shares of Series D Preferred Stock held by SA (the \"SA Exchange\"). The Issuer did not receive any cash proceeds in the SA Exchange."},{"field":"price","element":"transactionPricePerShare","label":"F9","text":"On September 23, 2026, the Issuer agreed to issue to SA 62,829 shares of Common Stock in exchange for 3,222 shares of Series D Preferred Stock held by SA (the \"SA Exchange\"). The Issuer did not receive any cash proceeds in the SA Exchange."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"These securities are owned directly by Stilwell Associates, L.P. (\"SA\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SA. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":62829,"source":{"system":"sec-edgar","filing":"0001213900-26-103642","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":6,"url":"https://www.sec.gov/Archives/edgar/data/1573720/000121390026103642/ownership.xml","form_type":"4"}},{"id":4627191,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2026-09-25T22:48:06.000Z","date":"2026-09-23","kind":"grant","planned":false,"acquired":true,"shares":35768,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"shares","element":"transactionShares","label":"F8","text":"On September 23, 2026, the Issuer agreed to issue to SAF 35,768 shares of Common Stock in exchange for 3,517 shares of Series B Preferred Stock and 955 shares of Series D Preferred Stock held by SAF (the \"Second SAF Exchange\"). The Issuer did not receive any cash proceeds in the Second SAF Exchange."},{"field":"price","element":"transactionPricePerShare","label":"F8","text":"On September 23, 2026, the Issuer agreed to issue to SAF 35,768 shares of Common Stock in exchange for 3,517 shares of Series B Preferred Stock and 955 shares of Series D Preferred Stock held by SAF (the \"Second SAF Exchange\"). The Issuer did not receive any cash proceeds in the Second SAF Exchange."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"These securities are owned directly by Stilwell Activist Fund, L.P. (\"SAF\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":61284,"source":{"system":"sec-edgar","filing":"0001213900-26-103642","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":4,"url":"https://www.sec.gov/Archives/edgar/data/1573720/000121390026103642/ownership.xml","form_type":"4"}},{"id":4627190,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2026-09-25T22:48:06.000Z","date":"2026-09-23","kind":"grant","planned":false,"acquired":true,"shares":25516,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"shares","element":"transactionShares","label":"F7","text":"On September 23, 2026, the Issuer agreed to issue to SAF 25,516 shares of Common Stock in exchange for 3,270 shares of Series B Preferred Stock and 491 shares of Series D Preferred Stock held by SAF (the \"First SAF Exchange\"). The Issuer did not receive any cash proceeds in the First SAF Exchange."},{"field":"price","element":"transactionPricePerShare","label":"F7","text":"On September 23, 2026, the Issuer agreed to issue to SAF 25,516 shares of Common Stock in exchange for 3,270 shares of Series B Preferred Stock and 491 shares of Series D Preferred Stock held by SAF (the \"First SAF Exchange\"). The Issuer did not receive any cash proceeds in the First SAF Exchange."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"These securities are owned directly by Stilwell Activist Fund, L.P. (\"SAF\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":25516,"source":{"system":"sec-edgar","filing":"0001213900-26-103642","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/1573720/000121390026103642/ownership.xml","form_type":"4"}},{"id":4627189,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2026-09-25T22:48:06.000Z","date":"2026-09-23","kind":"grant","planned":false,"acquired":true,"shares":257902,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"shares","element":"transactionShares","label":"F6","text":"On September 23, 2026, the Issuer agreed to issue to SAI 257,902 shares of Common Stock in exchange for 26,603 shares of Series B Preferred Stock and 6,575 shares of Series D Preferred Stock held by SAI (the \"Second SAI Exchange\"). The Issuer did not receive any cash proceeds in the Second SAI Exchange."},{"field":"price","element":"transactionPricePerShare","label":"F6","text":"On September 23, 2026, the Issuer agreed to issue to SAI 257,902 shares of Common Stock in exchange for 26,603 shares of Series B Preferred Stock and 6,575 shares of Series D Preferred Stock held by SAI (the \"Second SAI Exchange\"). The Issuer did not receive any cash proceeds in the Second SAI Exchange."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"These securities are owned directly by Stilwell Activist Investments, L.P. (\"SAI\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":442563,"source":{"system":"sec-edgar","filing":"0001213900-26-103642","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/1573720/000121390026103642/ownership.xml","form_type":"4"}},{"id":4627188,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2026-09-25T22:48:06.000Z","date":"2026-09-23","kind":"grant","planned":false,"acquired":true,"shares":184655,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"shares","element":"transactionShares","label":"F5","text":"On September 23, 2026, the Issuer agreed to issue to SAI 184,655 shares of the Issuer's common stock (\"Common Stock\") in exchange for 24,730 shares of the Issuer's Series B Preferred Stock (\"Series B Preferred Stock\") and 3,287 shares of the Issuer's Series D Cumulative Convertible Preferred Stock (\"Series D Preferred Stock\") held by SAI (the \"First SAI Exchange\"). The Issuer did not receive any cash proceeds in the First SAI Exchange."},{"field":"price","element":"transactionPricePerShare","label":"F5","text":"On September 23, 2026, the Issuer agreed to issue to SAI 184,655 shares of the Issuer's common stock (\"Common Stock\") in exchange for 24,730 shares of the Issuer's Series B Preferred Stock (\"Series B Preferred Stock\") and 3,287 shares of the Issuer's Series D Cumulative Convertible Preferred Stock (\"Series D Preferred Stock\") held by SAI (the \"First SAI Exchange\"). The Issuer did not receive any cash proceeds in the First SAI Exchange."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"These securities are owned directly by Stilwell Activist Investments, L.P. (\"SAI\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":184661,"source":{"system":"sec-edgar","filing":"0001213900-26-103642","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/1573720/000121390026103642/ownership.xml","form_type":"4"}},{"id":686101,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2026-08-17T20:19:04.000Z","date":"2026-08-13","kind":"sale","planned":false,"acquired":false,"shares":40850,"price":10,"value":408500.0,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales on August 13, 2026: Stilwell Associates, L.P. (\"Associates\") sold 32,982 shares at $10.00; Stilwell Activist Investments, L.P. (\"SAI\") sold 26,168 shares at $10.00; and Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 40,850 shares at $10.00."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F5","text":"These are shares owned directly by SVP VII and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":330718,"source":{"system":"sec-edgar","filing":"0001104659-26-097865","document":"tm2623411d1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":4,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465926097865/tm2623411d1_4seq1.xml","form_type":"4"}},{"id":686100,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2026-08-17T20:19:04.000Z","date":"2026-08-13","kind":"sale","planned":false,"acquired":false,"shares":26168,"price":10,"value":261680.0,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales on August 13, 2026: Stilwell Associates, L.P. (\"Associates\") sold 32,982 shares at $10.00; Stilwell Activist Investments, L.P. (\"SAI\") sold 26,168 shares at $10.00; and Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 40,850 shares at $10.00."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"These are shares owned directly by SAI and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":2228803,"source":{"system":"sec-edgar","filing":"0001104659-26-097865","document":"tm2623411d1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465926097865/tm2623411d1_4seq1.xml","form_type":"4"}},{"id":686099,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2026-08-17T20:19:04.000Z","date":"2026-08-13","kind":"sale","planned":false,"acquired":false,"shares":32982,"price":10,"value":329820.0,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales on August 13, 2026: Stilwell Associates, L.P. (\"Associates\") sold 32,982 shares at $10.00; Stilwell Activist Investments, L.P. (\"SAI\") sold 26,168 shares at $10.00; and Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 40,850 shares at $10.00."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These are shares owned directly by Associates and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of Associates. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":267018,"source":{"system":"sec-edgar","filing":"0001104659-26-097865","document":"tm2623411d1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465926097865/tm2623411d1_4seq1.xml","form_type":"4"}},{"id":719576,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2026-07-02T20:14:26.000Z","date":"2026-06-30","kind":"other","planned":false,"acquired":true,"shares":933,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"As disclosed in the Issuer's Form 8-K filed with the Securities and Exchange Commission on May 20, 2026, the Issuer determined that interest on the Notes payable on June 30, 2026, would be paid in the form of Series D Preferred Stock. On June 30, 2026, the Issuer issued shares of Series D Preferred Stock to the Reporting Person as payment of interest with respect to the Notes, in accordance with the terms thereof and of the Indenture among the Issuer and Wilmington Savings Fund Society, FSB, as Trustee, governing the terms of the Notes (the \"Indenture\")."},{"field":"price","element":"transactionPricePerShare","label":"F9","text":"In accordance with the terms of the Indenture, the number of shares of Series D Preferred Stock paid as interest on the Notes on June 30, 2026, was determined based on a per share value of $20.698249, calculated as the product of (x) the average of the per share volume-weighted average prices for Series D Preferred Stock for the 15 consecutive trading days ending on the third business day immediately preceding the interest payment date, and (y) 0.55."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"These securities are owned directly by Stilwell Associates, L.P. (\"SA\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SA. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":3222,"derivative":{"exercise_price":6154444800,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-26-074974","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":13,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026074974/ownership.xml","form_type":"4"}},{"id":719575,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2026-07-02T20:14:26.000Z","date":"2026-06-30","kind":"sale","planned":false,"acquired":false,"shares":1103,"price":36,"value":39708.0,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F10","text":"This Form 4 reports the sale by SVP VII on June 30, 2026 of 1,103 shares of Series D Preferred Stock at $36.00 per share."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These securities are owned directly by Stilwell Value Partners VII, L.P. (\"SVP VII\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":21148,"derivative":{"exercise_price":6154444800,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-26-074974","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":12,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026074974/ownership.xml","form_type":"4"}},{"id":719574,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2026-07-02T20:14:26.000Z","date":"2026-06-30","kind":"other","planned":false,"acquired":true,"shares":3152,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"As disclosed in the Issuer's Form 8-K filed with the Securities and Exchange Commission on May 20, 2026, the Issuer determined that interest on the Notes payable on June 30, 2026, would be paid in the form of Series D Preferred Stock. On June 30, 2026, the Issuer issued shares of Series D Preferred Stock to the Reporting Person as payment of interest with respect to the Notes, in accordance with the terms thereof and of the Indenture among the Issuer and Wilmington Savings Fund Society, FSB, as Trustee, governing the terms of the Notes (the \"Indenture\")."},{"field":"price","element":"transactionPricePerShare","label":"F9","text":"In accordance with the terms of the Indenture, the number of shares of Series D Preferred Stock paid as interest on the Notes on June 30, 2026, was determined based on a per share value of $20.698249, calculated as the product of (x) the average of the per share volume-weighted average prices for Series D Preferred Stock for the 15 consecutive trading days ending on the third business day immediately preceding the interest payment date, and (y) 0.55."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These securities are owned directly by Stilwell Value Partners VII, L.P. (\"SVP VII\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":22251,"derivative":{"exercise_price":6154444800,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-26-074974","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":11,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026074974/ownership.xml","form_type":"4"}},{"id":719573,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2026-07-02T20:14:26.000Z","date":"2026-06-30","kind":"other","planned":false,"acquired":true,"shares":4235,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"As disclosed in the Issuer's Form 8-K filed with the Securities and Exchange Commission on May 20, 2026, the Issuer determined that interest on the Notes payable on June 30, 2026, would be paid in the form of Series D Preferred Stock. On June 30, 2026, the Issuer issued shares of Series D Preferred Stock to the Reporting Person as payment of interest with respect to the Notes, in accordance with the terms thereof and of the Indenture among the Issuer and Wilmington Savings Fund Society, FSB, as Trustee, governing the terms of the Notes (the \"Indenture\")."},{"field":"price","element":"transactionPricePerShare","label":"F9","text":"In accordance with the terms of the Indenture, the number of shares of Series D Preferred Stock paid as interest on the Notes on June 30, 2026, was determined based on a per share value of $20.698249, calculated as the product of (x) the average of the per share volume-weighted average prices for Series D Preferred Stock for the 15 consecutive trading days ending on the third business day immediately preceding the interest payment date, and (y) 0.55."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"These securities are owned directly by Stilwell Activist Fund, L.P. (\"SAF\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":20033,"derivative":{"exercise_price":6154444800,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-26-074974","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":10,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026074974/ownership.xml","form_type":"4"}},{"id":719572,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2026-07-02T20:14:26.000Z","date":"2026-06-30","kind":"other","planned":false,"acquired":true,"shares":29011,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"As disclosed in the Issuer's Form 8-K filed with the Securities and Exchange Commission on May 20, 2026, the Issuer determined that interest on the Notes payable on June 30, 2026, would be paid in the form of Series D Preferred Stock. On June 30, 2026, the Issuer issued shares of Series D Preferred Stock to the Reporting Person as payment of interest with respect to the Notes, in accordance with the terms thereof and of the Indenture among the Issuer and Wilmington Savings Fund Society, FSB, as Trustee, governing the terms of the Notes (the \"Indenture\")."},{"field":"price","element":"transactionPricePerShare","label":"F9","text":"In accordance with the terms of the Indenture, the number of shares of Series D Preferred Stock paid as interest on the Notes on June 30, 2026, was determined based on a per share value of $20.698249, calculated as the product of (x) the average of the per share volume-weighted average prices for Series D Preferred Stock for the 15 consecutive trading days ending on the third business day immediately preceding the interest payment date, and (y) 0.55."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000004 shares of the Issuer's common stock (a conversion price of $6,154,444,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"These securities are owned directly by Stilwell Activist Investments, L.P. (\"SAI\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":137965,"derivative":{"exercise_price":6154444800,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-26-074974","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":9,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026074974/ownership.xml","form_type":"4"}},{"id":723230,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series B Convertible Preferred Stock","published_at":"2026-06-30T18:41:02.000Z","date":"2026-06-26","kind":"sale","planned":false,"acquired":false,"shares":13895,"price":8.6423,"value":120084.7585,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000002 shares of the Issuer's common stock (a conversion price of $14,515,200,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F8","text":"This Form 4 reports the following sales of Series B Preferred Stock on June 26, 2026: (i) SAF sold 11,105 shares at $8.6423 per share, and (ii) SVP VII sold 13,895 shares at $8.6423 per share."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000002 shares of the Issuer's common stock (a conversion price of $14,515,200,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000002 shares of the Issuer's common stock (a conversion price of $14,515,200,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000002 shares of the Issuer's common stock (a conversion price of $14,515,200,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These securities are owned directly by Stilwell Value Partners VII, L.P. (\"SVP VII\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":90565,"derivative":{"exercise_price":14515200000,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-26-073610","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":15,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026073610/ownership.xml","form_type":"4"}},{"id":723229,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series B Convertible Preferred Stock","published_at":"2026-06-30T18:41:02.000Z","date":"2026-06-26","kind":"sale","planned":false,"acquired":false,"shares":11105,"price":8.6423,"value":95972.7415,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000002 shares of the Issuer's common stock (a conversion price of $14,515,200,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F8","text":"This Form 4 reports the following sales of Series B Preferred Stock on June 26, 2026: (i) SAF sold 11,105 shares at $8.6423 per share, and (ii) SVP VII sold 13,895 shares at $8.6423 per share."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000002 shares of the Issuer's common stock (a conversion price of $14,515,200,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000002 shares of the Issuer's common stock (a conversion price of $14,515,200,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000002 shares of the Issuer's common stock (a conversion price of $14,515,200,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"These securities are owned directly by Stilwell Activist Fund, L.P. (\"SAF\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":72383,"derivative":{"exercise_price":14515200000,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-26-073610","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":14,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026073610/ownership.xml","form_type":"4"}},{"id":748705,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"7.00% Subordinated Convertible Notes due 2031","published_at":"2026-06-05T20:55:39.000Z","date":"2026-06-03","kind":"purchase","planned":false,"acquired":true,"price":2062492.5,"reported_value":625000,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F5","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of the Issuer's common stock at a conversion price of $1.026988 per share (24.343042 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"price","element":"transactionPricePerShare","label":"F8","text":"The price reported in Column 8 is an aggregate purchase price. These Notes were purchased at a price of $82.4997 per $25.00 of aggregate principal amount."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F5","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of the Issuer's common stock at a conversion price of $1.026988 per share (24.343042 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F5","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of the Issuer's common stock at a conversion price of $1.026988 per share (24.343042 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F6","text":"Interest on the Notes may be payable, at the Issuer's election, in cash, in shares of the Issuer's Series B Convertible Preferred Stock (\"Series B Preferred Stock\") or in shares of the Issuer's Series D Cumulative Convertible Preferred Stock (\"Series D Preferred Stock\"), in each case as set forth in the Notes."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"These securities are owned directly by Stilwell Associates, L.P. (\"SA\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SA. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"derivative":{"exercise_price":1.03,"expiration_date":"2031-12-31","underlying":"Common Stock","underlying_shares":608576},"source":{"system":"sec-edgar","filing":"0001213900-26-065877","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":8,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026065877/ownership.xml","form_type":"4"}},{"id":748704,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"7.00% Subordinated Convertible Notes due 2031","published_at":"2026-06-05T20:55:39.000Z","date":"2026-06-03","kind":"sale","planned":false,"acquired":false,"price":3506250,"reported_value":1062500,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F5","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of the Issuer's common stock at a conversion price of $1.026988 per share (24.343042 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"price","element":"transactionPricePerShare","label":"F7","text":"The price reported in Column 8 is an aggregate purchase price. These Notes were sold at a price of $82.50 per $25.00 of aggregate principal amount."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F5","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of the Issuer's common stock at a conversion price of $1.026988 per share (24.343042 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F5","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of the Issuer's common stock at a conversion price of $1.026988 per share (24.343042 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F6","text":"Interest on the Notes may be payable, at the Issuer's election, in cash, in shares of the Issuer's Series B Convertible Preferred Stock (\"Series B Preferred Stock\") or in shares of the Issuer's Series D Cumulative Convertible Preferred Stock (\"Series D Preferred Stock\"), in each case as set forth in the Notes."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These securities are owned directly by Stilwell Value Partners VII, L.P. (\"SVP VII\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"derivative":{"exercise_price":1.03,"expiration_date":"2031-12-31","underlying":"Common Stock","underlying_shares":1034579},"source":{"system":"sec-edgar","filing":"0001213900-26-065877","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":7,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026065877/ownership.xml","form_type":"4"}},{"id":832789,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series B Convertible Preferred Stock","published_at":"2026-03-20T20:29:20.000Z","date":"2026-03-18","kind":"sale","planned":false,"acquired":false,"shares":12530,"price":6.9593,"value":87200.029,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000002 shares of the Issuer's common stock (a conversion price of $1,209,600,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F8","text":"This Form 4 reports the following sales of Series B Preferred Stock on March 18, 2026: (i) SAI sold 13,470 shares at $6.9593 per share, and (ii) SVP VII sold 12,530 shares at $6.9593 per share."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000002 shares of the Issuer's common stock (a conversion price of $1,209,600,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000002 shares of the Issuer's common stock (a conversion price of $1,209,600,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000002 shares of the Issuer's common stock (a conversion price of $1,209,600,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These securities are owned directly by Stilwell Value Partners VII, L.P. (\"SVP VII\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":104460,"derivative":{"exercise_price":1209600000,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-26-032376","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":15,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026032376/ownership.xml","form_type":"4"}},{"id":832788,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series B Convertible Preferred Stock","published_at":"2026-03-20T20:29:20.000Z","date":"2026-03-18","kind":"sale","planned":false,"acquired":false,"shares":13470,"price":6.9593,"value":93741.771,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000002 shares of the Issuer's common stock (a conversion price of $1,209,600,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F8","text":"This Form 4 reports the following sales of Series B Preferred Stock on March 18, 2026: (i) SAI sold 13,470 shares at $6.9593 per share, and (ii) SVP VII sold 12,530 shares at $6.9593 per share."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000002 shares of the Issuer's common stock (a conversion price of $1,209,600,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000002 shares of the Issuer's common stock (a conversion price of $1,209,600,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000002 shares of the Issuer's common stock (a conversion price of $1,209,600,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"These securities are owned directly by Stilwell Activist Investments, L.P. (\"SAI\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. 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Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"As disclosed in the Issuer's Form 8-K filed with the Securities and Exchange Commission on November 20, 2025, the Issuer determined that interest on the Notes payable on December 31, 2025, would be paid in the form of Series D Preferred Stock. On December 31, 2025, the Issuer issued shares of Series D Preferred Stock to the Reporting Person as payment of interest with respect to the Notes, in accordance with the terms thereof and of the Indenture among the Issuer and Wilmington Savings Fund Society, FSB, as Trustee, governing the terms of the Notes (the \"Indenture\")."},{"field":"price","element":"transactionPricePerShare","label":"F9","text":"In accordance with the terms of the Indenture, the number of shares of Series D Preferred Stock paid as interest on the Notes on December 31, 2025 was determined based on a per share value of $20.789285, calculated as the product of (x) the average of the per share volume-weighted average prices for Series D Preferred Stock for the 15 consecutive trading days ending on the third business day immediately preceding the interest payment date, and (y) 0.55."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"These securities are owned directly by Stilwell Associates, L.P. (\"SA\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SA. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":2289,"derivative":{"exercise_price":170956800,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-26-001079","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":12,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026001079/ownership.xml","form_type":"4"}},{"id":953472,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2026-01-05T20:46:18.000Z","date":"2025-12-31","kind":"other","planned":false,"acquired":true,"shares":3138,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"As disclosed in the Issuer's Form 8-K filed with the Securities and Exchange Commission on November 20, 2025, the Issuer determined that interest on the Notes payable on December 31, 2025, would be paid in the form of Series D Preferred Stock. On December 31, 2025, the Issuer issued shares of Series D Preferred Stock to the Reporting Person as payment of interest with respect to the Notes, in accordance with the terms thereof and of the Indenture among the Issuer and Wilmington Savings Fund Society, FSB, as Trustee, governing the terms of the Notes (the \"Indenture\")."},{"field":"price","element":"transactionPricePerShare","label":"F9","text":"In accordance with the terms of the Indenture, the number of shares of Series D Preferred Stock paid as interest on the Notes on December 31, 2025 was determined based on a per share value of $20.789285, calculated as the product of (x) the average of the per share volume-weighted average prices for Series D Preferred Stock for the 15 consecutive trading days ending on the third business day immediately preceding the interest payment date, and (y) 0.55."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These securities are owned directly by Stilwell Value Partners VII, L.P. (\"SVP VII\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":19099,"derivative":{"exercise_price":170956800,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-26-001079","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":11,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026001079/ownership.xml","form_type":"4"}},{"id":953471,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2026-01-05T20:46:18.000Z","date":"2025-12-31","kind":"other","planned":false,"acquired":true,"shares":4217,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"As disclosed in the Issuer's Form 8-K filed with the Securities and Exchange Commission on November 20, 2025, the Issuer determined that interest on the Notes payable on December 31, 2025, would be paid in the form of Series D Preferred Stock. On December 31, 2025, the Issuer issued shares of Series D Preferred Stock to the Reporting Person as payment of interest with respect to the Notes, in accordance with the terms thereof and of the Indenture among the Issuer and Wilmington Savings Fund Society, FSB, as Trustee, governing the terms of the Notes (the \"Indenture\")."},{"field":"price","element":"transactionPricePerShare","label":"F9","text":"In accordance with the terms of the Indenture, the number of shares of Series D Preferred Stock paid as interest on the Notes on December 31, 2025 was determined based on a per share value of $20.789285, calculated as the product of (x) the average of the per share volume-weighted average prices for Series D Preferred Stock for the 15 consecutive trading days ending on the third business day immediately preceding the interest payment date, and (y) 0.55."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"These securities are owned directly by Stilwell Activist Fund, L.P. (\"SAF\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":15798,"derivative":{"exercise_price":170956800,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-26-001079","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":10,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026001079/ownership.xml","form_type":"4"}},{"id":953470,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2026-01-05T20:46:18.000Z","date":"2025-12-31","kind":"other","planned":false,"acquired":true,"shares":28885,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"As disclosed in the Issuer's Form 8-K filed with the Securities and Exchange Commission on November 20, 2025, the Issuer determined that interest on the Notes payable on December 31, 2025, would be paid in the form of Series D Preferred Stock. On December 31, 2025, the Issuer issued shares of Series D Preferred Stock to the Reporting Person as payment of interest with respect to the Notes, in accordance with the terms thereof and of the Indenture among the Issuer and Wilmington Savings Fund Society, FSB, as Trustee, governing the terms of the Notes (the \"Indenture\")."},{"field":"price","element":"transactionPricePerShare","label":"F9","text":"In accordance with the terms of the Indenture, the number of shares of Series D Preferred Stock paid as interest on the Notes on December 31, 2025 was determined based on a per share value of $20.789285, calculated as the product of (x) the average of the per share volume-weighted average prices for Series D Preferred Stock for the 15 consecutive trading days ending on the third business day immediately preceding the interest payment date, and (y) 0.55."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"These securities are owned directly by Stilwell Activist Investments, L.P. (\"SAI\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":108954,"derivative":{"exercise_price":170956800,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-26-001079","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":9,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390026001079/ownership.xml","form_type":"4"}},{"id":958959,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2025-12-29T21:42:14.000Z","date":"2025-12-24","kind":"sale","planned":false,"acquired":false,"shares":2197,"price":37.017,"value":81326.349,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"This Form 4 reports the following sales of Series D Preferred Stock on December 24, 2025: (i) SAI sold 11,209 shares at $37.0170 per share, (ii) SAF sold 1,594 shares at $37.0170 per share, and (iii) SVP VII sold 2,197 shares at $37.0170 per share."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These securities are owned directly by Stilwell Value Partners VII, L.P. (\"SVP VII\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":15961,"derivative":{"exercise_price":170956800,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-25-126092","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":11,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025126092/ownership.xml","form_type":"4"}},{"id":958958,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2025-12-29T21:42:14.000Z","date":"2025-12-24","kind":"sale","planned":false,"acquired":false,"shares":1594,"price":37.017,"value":59005.098,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"This Form 4 reports the following sales of Series D Preferred Stock on December 24, 2025: (i) SAI sold 11,209 shares at $37.0170 per share, (ii) SAF sold 1,594 shares at $37.0170 per share, and (iii) SVP VII sold 2,197 shares at $37.0170 per share."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"These securities are owned directly by Stilwell Activist Fund, L.P. (\"SAF\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":11581,"derivative":{"exercise_price":170956800,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-25-126092","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":10,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025126092/ownership.xml","form_type":"4"}},{"id":958957,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2025-12-29T21:42:14.000Z","date":"2025-12-24","kind":"sale","planned":false,"acquired":false,"shares":11209,"price":37.017,"value":414923.553,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"This Form 4 reports the following sales of Series D Preferred Stock on December 24, 2025: (i) SAI sold 11,209 shares at $37.0170 per share, (ii) SAF sold 1,594 shares at $37.0170 per share, and (iii) SVP VII sold 2,197 shares at $37.0170 per share."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000015 shares of the Issuer's common stock (a conversion price of $170,956,800 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"These securities are owned directly by Stilwell Activist Investments, L.P. (\"SAI\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":80069,"derivative":{"exercise_price":170956800,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-25-126092","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":9,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025126092/ownership.xml","form_type":"4"}},{"id":958956,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-12-29T21:01:31.000Z","date":"2025-12-22","kind":"sale","planned":false,"acquired":false,"shares":19229,"price":12.8,"value":246131.2,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales: on December 22, 2025, Stilwell Associates, L.P. (\"Associates\") sold 19,229 shares at $12.80."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These are shares owned directly by Associates and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of Associates. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":300000,"source":{"system":"sec-edgar","filing":"0001104659-25-124830","document":"tm2534439-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925124830/tm2534439-1_4seq1.xml","form_type":"4"}},{"id":962524,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Stock Option (obligation to sell)","published_at":"2025-12-20T00:50:06.000Z","date":"2025-12-17","kind":"other","planned":false,"acquired":false,"shares":218842,"price":0,"value":0.0,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"On March 31, 2025, Stilwell Value LLC (\"Value\") entered into three Option Agreements with certain counterparties (collectively, the \"Buyers\"), pursuant to which Value granted each Buyer an option to purchase, respectively, (i) 815,000 shares of common stock, par value $0.01 per share (the \"Common Stock\"), of Kingsway Financial Services Inc. (the \"Company\"), (ii) 660,000 shares of Common Stock, and (iii) 275,000 shares of Common Stock, at an exercise price of $8.25 per share. The Option Agreements were set to expire at 5:00 p.m. Eastern Time on December 29, 2025, and were amended on December 17, 2025 so that the options became exercisable at any time prior to 5:00 p.m. Eastern Time on December 29, 2025."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F2","text":"On March 31, 2025, Stilwell Value LLC (\"Value\") entered into three Option Agreements with certain counterparties (collectively, the \"Buyers\"), pursuant to which Value granted each Buyer an option to purchase, respectively, (i) 815,000 shares of common stock, par value $0.01 per share (the \"Common Stock\"), of Kingsway Financial Services Inc. (the \"Company\"), (ii) 660,000 shares of Common Stock, and (iii) 275,000 shares of Common Stock, at an exercise price of $8.25 per share. The Option Agreements were set to expire at 5:00 p.m. Eastern Time on December 29, 2025, and were amended on December 17, 2025 so that the options became exercisable at any time prior to 5:00 p.m. Eastern Time on December 29, 2025."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F2","text":"On March 31, 2025, Stilwell Value LLC (\"Value\") entered into three Option Agreements with certain counterparties (collectively, the \"Buyers\"), pursuant to which Value granted each Buyer an option to purchase, respectively, (i) 815,000 shares of common stock, par value $0.01 per share (the \"Common Stock\"), of Kingsway Financial Services Inc. (the \"Company\"), (ii) 660,000 shares of Common Stock, and (iii) 275,000 shares of Common Stock, at an exercise price of $8.25 per share. The Option Agreements were set to expire at 5:00 p.m. Eastern Time on December 29, 2025, and were amended on December 17, 2025 so that the options became exercisable at any time prior to 5:00 p.m. Eastern Time on December 29, 2025."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F6","text":"These are shares owned directly by Stilwell Value Partners VII, L.P. (\"SVP VII\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":0,"derivative":{"exercise_price":8.25,"expiration_date":"2025-12-29","underlying":"Common Stock","underlying_shares":218842},"source":{"system":"sec-edgar","filing":"0001104659-25-123371","document":"tm2533995-1_4seq1.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":12,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925123371/tm2533995-1_4seq1.xml","form_type":"4"}},{"id":962523,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Stock Option (obligation to sell)","published_at":"2025-12-20T00:50:06.000Z","date":"2025-12-17","kind":"other","planned":false,"acquired":false,"shares":20270,"price":0,"value":0.0,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"On March 31, 2025, Stilwell Value LLC (\"Value\") entered into three Option Agreements with certain counterparties (collectively, the \"Buyers\"), pursuant to which Value granted each Buyer an option to purchase, respectively, (i) 815,000 shares of common stock, par value $0.01 per share (the \"Common Stock\"), of Kingsway Financial Services Inc. (the \"Company\"), (ii) 660,000 shares of Common Stock, and (iii) 275,000 shares of Common Stock, at an exercise price of $8.25 per share. The Option Agreements were set to expire at 5:00 p.m. Eastern Time on December 29, 2025, and were amended on December 17, 2025 so that the options became exercisable at any time prior to 5:00 p.m. Eastern Time on December 29, 2025."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F2","text":"On March 31, 2025, Stilwell Value LLC (\"Value\") entered into three Option Agreements with certain counterparties (collectively, the \"Buyers\"), pursuant to which Value granted each Buyer an option to purchase, respectively, (i) 815,000 shares of common stock, par value $0.01 per share (the \"Common Stock\"), of Kingsway Financial Services Inc. (the \"Company\"), (ii) 660,000 shares of Common Stock, and (iii) 275,000 shares of Common Stock, at an exercise price of $8.25 per share. The Option Agreements were set to expire at 5:00 p.m. Eastern Time on December 29, 2025, and were amended on December 17, 2025 so that the options became exercisable at any time prior to 5:00 p.m. Eastern Time on December 29, 2025."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F2","text":"On March 31, 2025, Stilwell Value LLC (\"Value\") entered into three Option Agreements with certain counterparties (collectively, the \"Buyers\"), pursuant to which Value granted each Buyer an option to purchase, respectively, (i) 815,000 shares of common stock, par value $0.01 per share (the \"Common Stock\"), of Kingsway Financial Services Inc. (the \"Company\"), (ii) 660,000 shares of Common Stock, and (iii) 275,000 shares of Common Stock, at an exercise price of $8.25 per share. The Option Agreements were set to expire at 5:00 p.m. Eastern Time on December 29, 2025, and were amended on December 17, 2025 so that the options became exercisable at any time prior to 5:00 p.m. Eastern Time on December 29, 2025."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F5","text":"These are shares owned directly by Stilwell Activist Fund, L.P. (\"SAF\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":0,"derivative":{"exercise_price":8.25,"expiration_date":"2025-12-29","underlying":"Common Stock","underlying_shares":20270},"source":{"system":"sec-edgar","filing":"0001104659-25-123371","document":"tm2533995-1_4seq1.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":11,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925123371/tm2533995-1_4seq1.xml","form_type":"4"}},{"id":962522,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Stock Option (obligation to sell)","published_at":"2025-12-20T00:50:06.000Z","date":"2025-12-17","kind":"other","planned":false,"acquired":false,"shares":1295411,"price":0,"value":0.0,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"On March 31, 2025, Stilwell Value LLC (\"Value\") entered into three Option Agreements with certain counterparties (collectively, the \"Buyers\"), pursuant to which Value granted each Buyer an option to purchase, respectively, (i) 815,000 shares of common stock, par value $0.01 per share (the \"Common Stock\"), of Kingsway Financial Services Inc. (the \"Company\"), (ii) 660,000 shares of Common Stock, and (iii) 275,000 shares of Common Stock, at an exercise price of $8.25 per share. The Option Agreements were set to expire at 5:00 p.m. Eastern Time on December 29, 2025, and were amended on December 17, 2025 so that the options became exercisable at any time prior to 5:00 p.m. Eastern Time on December 29, 2025."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F2","text":"On March 31, 2025, Stilwell Value LLC (\"Value\") entered into three Option Agreements with certain counterparties (collectively, the \"Buyers\"), pursuant to which Value granted each Buyer an option to purchase, respectively, (i) 815,000 shares of common stock, par value $0.01 per share (the \"Common Stock\"), of Kingsway Financial Services Inc. (the \"Company\"), (ii) 660,000 shares of Common Stock, and (iii) 275,000 shares of Common Stock, at an exercise price of $8.25 per share. The Option Agreements were set to expire at 5:00 p.m. Eastern Time on December 29, 2025, and were amended on December 17, 2025 so that the options became exercisable at any time prior to 5:00 p.m. Eastern Time on December 29, 2025."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F2","text":"On March 31, 2025, Stilwell Value LLC (\"Value\") entered into three Option Agreements with certain counterparties (collectively, the \"Buyers\"), pursuant to which Value granted each Buyer an option to purchase, respectively, (i) 815,000 shares of common stock, par value $0.01 per share (the \"Common Stock\"), of Kingsway Financial Services Inc. (the \"Company\"), (ii) 660,000 shares of Common Stock, and (iii) 275,000 shares of Common Stock, at an exercise price of $8.25 per share. The Option Agreements were set to expire at 5:00 p.m. Eastern Time on December 29, 2025, and were amended on December 17, 2025 so that the options became exercisable at any time prior to 5:00 p.m. Eastern Time on December 29, 2025."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"These are shares owned directly by Stilwell Activist Investments, L.P. (\"SAI\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAI. 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Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":545135,"source":{"system":"sec-edgar","filing":"0001104659-25-122064","document":"tm2533782-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925122064/tm2533782-1_4seq1.xml","form_type":"4"}},{"id":970077,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-12-15T23:30:09.000Z","date":"2025-12-11","kind":"sale","planned":false,"acquired":false,"shares":67500,"price":12.8,"value":864000.0,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales: on December 11, 2025 Stilwell Associates, L.P. (\"Associates\") sold 67,500 shares at $12.80."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These are shares owned directly by Associates and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of Associates. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":579404,"source":{"system":"sec-edgar","filing":"0001104659-25-121276","document":"tm2533499-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925121276/tm2533499-1_4seq1.xml","form_type":"4"}},{"id":971915,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series B Convertible Preferred Stock","published_at":"2025-12-12T17:33:56.000Z","date":"2025-12-10","kind":"sale","planned":false,"acquired":false,"shares":13494,"price":4.301,"value":58037.694,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000006 shares of the Issuer's common stock (a conversion price of $403,200,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F8","text":"This Form 4 reports the following sales of Series B Preferred Stock on December 10, 2025: (i) SAI sold 14,506 shares at $4.3010 per share, and (ii) SVP VII sold 13,494 shares at $4.3010 per share."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000006 shares of the Issuer's common stock (a conversion price of $403,200,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000006 shares of the Issuer's common stock (a conversion price of $403,200,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000006 shares of the Issuer's common stock (a conversion price of $403,200,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These securities are owned directly by Stilwell Value Partners VII, L.P. (\"SVP VII\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":116990,"derivative":{"exercise_price":403200000,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-25-121055","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":15,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025121055/ownership.xml","form_type":"4"}},{"id":971914,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series B Convertible Preferred Stock","published_at":"2025-12-12T17:33:56.000Z","date":"2025-12-10","kind":"sale","planned":false,"acquired":false,"shares":14506,"price":4.301,"value":62390.306,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000006 shares of the Issuer's common stock (a conversion price of $403,200,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F8","text":"This Form 4 reports the following sales of Series B Preferred Stock on December 10, 2025: (i) SAI sold 14,506 shares at $4.3010 per share, and (ii) SVP VII sold 13,494 shares at $4.3010 per share."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000006 shares of the Issuer's common stock (a conversion price of $403,200,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000006 shares of the Issuer's common stock (a conversion price of $403,200,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000006 shares of the Issuer's common stock (a conversion price of $403,200,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"These securities are owned directly by Stilwell Activist Investments, L.P. (\"SAI\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":560988,"derivative":{"exercise_price":403200000,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-25-121055","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":13,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025121055/ownership.xml","form_type":"4"}},{"id":975161,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-12-10T23:13:06.000Z","date":"2025-12-09","kind":"sale","planned":false,"acquired":false,"shares":20000,"price":12.8,"value":256000.0,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales: on December 8, 2025 Stilwell Associates, L.P. (\"Associates\") sold 35,000 shares at $12.82; and on December 9, 2025 Associates sold 20,000 shares at $12.80."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These are shares owned directly by Associates and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of Associates. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":646904,"source":{"system":"sec-edgar","filing":"0001104659-25-120042","document":"tm2533231-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925120042/tm2533231-1_4seq1.xml","form_type":"4"}},{"id":975160,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-12-10T23:13:06.000Z","date":"2025-12-08","kind":"sale","planned":false,"acquired":false,"shares":35000,"price":12.82,"value":448700.0,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales: on December 8, 2025 Stilwell Associates, L.P. (\"Associates\") sold 35,000 shares at $12.82; and on December 9, 2025 Associates sold 20,000 shares at $12.80."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These are shares owned directly by Associates and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of Associates. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":666904,"source":{"system":"sec-edgar","filing":"0001104659-25-120042","document":"tm2533231-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925120042/tm2533231-1_4seq1.xml","form_type":"4"}},{"id":998297,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"7.00% Subordinated Convertible Notes due 2031","published_at":"2025-11-17T20:06:55.000Z","date":"2025-11-13","kind":"purchase","planned":false,"acquired":true,"price":1000000,"reported_value":312500,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F5","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of the Issuer's common stock at a conversion price of $1.742315 per share (14.348723 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"price","element":"transactionPricePerShare","label":"F8","text":"The price reported in Column 8 is an aggregate purchase price. These Notes were purchased at a price of $80.00 per $25.00 of aggregate principal amount."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F5","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of the Issuer's common stock at a conversion price of $1.742315 per share (14.348723 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F5","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of the Issuer's common stock at a conversion price of $1.742315 per share (14.348723 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F6","text":"Interest on the Notes may be payable, at the Issuer's election, in cash, in shares of the Issuer's Series B Convertible Preferred Stock (\"Series B Preferred Stock\") or in shares of the Issuer's Series D Cumulative Convertible Preferred Stock (\"Series D Preferred Stock\"), in each case as set forth in the Notes."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"These securities are owned directly by Stilwell Associates, L.P. (\"SA\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SA. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"derivative":{"exercise_price":1.74,"expiration_date":"2031-12-31","underlying":"Common Stock","underlying_shares":179359},"source":{"system":"sec-edgar","filing":"0001213900-25-111485","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":8,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025111485/ownership.xml","form_type":"4"}},{"id":998296,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"7.00% Subordinated Convertible Notes due 2031","published_at":"2025-11-17T20:06:55.000Z","date":"2025-11-13","kind":"sale","planned":false,"acquired":false,"price":6403672,"reported_value":2000000,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F5","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of the Issuer's common stock at a conversion price of $1.742315 per share (14.348723 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"price","element":"transactionPricePerShare","label":"F7","text":"The price reported in Column 8 is an aggregate purchase price. These Notes were sold at a price of $80.0459 per $25.00 of aggregate principal amount."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F5","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of the Issuer's common stock at a conversion price of $1.742315 per share (14.348723 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F5","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of the Issuer's common stock at a conversion price of $1.742315 per share (14.348723 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F6","text":"Interest on the Notes may be payable, at the Issuer's election, in cash, in shares of the Issuer's Series B Convertible Preferred Stock (\"Series B Preferred Stock\") or in shares of the Issuer's Series D Cumulative Convertible Preferred Stock (\"Series D Preferred Stock\"), in each case as set forth in the Notes."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These securities are owned directly by Stilwell Value Partners VII, L.P. (\"SVP VII\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"derivative":{"exercise_price":1.74,"expiration_date":"2031-12-31","underlying":"Common Stock","underlying_shares":1147897},"source":{"system":"sec-edgar","filing":"0001213900-25-111485","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":7,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025111485/ownership.xml","form_type":"4"}},{"id":1005271,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2025-11-07T23:58:57.000Z","date":"2025-11-05","kind":"disposition_to_issuer","planned":false,"acquired":false,"shares":500,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.0000003 shares of the Issuer's common stock (a conversion price of $85,478,400 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F9","text":"Disposition was as a result of the redemption of Series D Preferred Stock, which was settled in shares of the Issuer's common stock at a redemption price of approximately $42.34 per share of Series D Preferred Stock ($25.00 per share plus the amount of all accrued but unpaid dividends to and including the redemption date)."},{"field":"price","element":"transactionPricePerShare","label":"F9","text":"Disposition was as a result of the redemption of Series D Preferred Stock, which was settled in shares of the Issuer's common stock at a redemption price of approximately $42.34 per share of Series D Preferred Stock ($25.00 per share plus the amount of all accrued but unpaid dividends to and including the redemption date)."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.0000003 shares of the Issuer's common stock (a conversion price of $85,478,400 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.0000003 shares of the Issuer's common stock (a conversion price of $85,478,400 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.0000003 shares of the Issuer's common stock (a conversion price of $85,478,400 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"These securities are owned directly by Stilwell Activist Investments, L.P. (\"SAI\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":91278,"derivative":{"exercise_price":85478400,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-25-107765","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":9,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025107765/ownership.xml","form_type":"4"}},{"id":1005270,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-11-07T23:58:57.000Z","date":"2025-11-05","kind":"grant","planned":false,"acquired":true,"shares":6682,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"price","element":"transactionPricePerShare","label":"F5","text":"Represents shares of the Issuer's common stock that were acquired as a result of the Issuer settling redemption requests for the Issuer's Series D Cumulative Convertible Preferred Stock (\"Series D Preferred Stock\") in shares of the Issuer's common stock. The redemption price for each share of Series D Preferred Stock was approximately $42.34 ($25.00 per share plus the amount of all accrued but unpaid dividends to and including the redemption date). The number of shares of common stock issued upon redemption of Series D Preferred Stock was based on a common stock price of approximately $3.17, which was the volume weighted average of the closing sales price, as reported on the Nasdaq Capital Market, per share of common stock for the ten consecutive trading days immediately preceding, but not including, the redemption date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"These securities are owned directly by Stilwell Activist Investments, L.P. (\"SAI\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":87843,"source":{"system":"sec-edgar","filing":"0001213900-25-107765","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025107765/ownership.xml","form_type":"4"}},{"id":1028363,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"7.00% Subordinated Convertible Notes due 2031","published_at":"2025-10-02T18:33:41.000Z","date":"2025-09-30","kind":"sale","planned":false,"acquired":false,"price":53734.6,"reported_value":11725,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F5","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of the Issuer's common stock at a conversion price of $4.907490 per share (5.094256 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"price","element":"transactionPricePerShare","label":"F7","text":"The price reported in Column 8 is an aggregate purchase price. These Notes were sold at a price of $114.5727 per $25.00 of aggregate principal amount."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F5","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of the Issuer's common stock at a conversion price of $4.907490 per share (5.094256 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F5","text":"The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the \"Notes\") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of the Issuer's common stock at a conversion price of $4.907490 per share (5.094256 common shares for each $25.00 of principal amount of the Notes being converted)."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F6","text":"Interest on the Notes may be payable, at the Issuer's election, in cash, in shares of the Issuer's Series B Convertible Preferred Stock (\"Series B Preferred Stock\") or in shares of the Issuer's Series D Cumulative Convertible Preferred Stock (\"Series D Preferred Stock\"), in each case as set forth in the Notes."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These securities are owned directly by Stilwell Value Partners VII, L.P. (\"SVP VII\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"derivative":{"exercise_price":4.91,"expiration_date":"2031-12-31","underlying":"Common Stock","underlying_shares":2389},"source":{"system":"sec-edgar","filing":"0001213900-25-095272","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":7,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025095272/ownership.xml","form_type":"4"}},{"id":1036683,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2025-09-18T20:54:57.000Z","date":"2025-09-16","kind":"sale","planned":false,"acquired":false,"shares":2293,"price":36.3625,"value":83379.2125,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"This Form 4 reports the following sales of Series D Preferred Stock on September 16, 2025: (i) SAI sold 11,995 shares at $36.3625 per share, (ii) SAF sold 1,712 shares at $36.3625 per share, and (iii) SVP VII sold 2,293 shares at $36.3625 per share."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These securities are owned directly by Stilwell Value Partners VII, L.P. (\"SVP VII\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":18158,"derivative":{"exercise_price":17095680,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-25-089042","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":11,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025089042/ownership.xml","form_type":"4"}},{"id":1036682,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2025-09-18T20:54:57.000Z","date":"2025-09-16","kind":"sale","planned":false,"acquired":false,"shares":1712,"price":36.3625,"value":62252.6,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"This Form 4 reports the following sales of Series D Preferred Stock on September 16, 2025: (i) SAI sold 11,995 shares at $36.3625 per share, (ii) SAF sold 1,712 shares at $36.3625 per share, and (iii) SVP VII sold 2,293 shares at $36.3625 per share."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"These securities are owned directly by Stilwell Activist Fund, L.P. (\"SAF\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":13175,"derivative":{"exercise_price":17095680,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-25-089042","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":10,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025089042/ownership.xml","form_type":"4"}},{"id":1036681,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2025-09-18T20:54:57.000Z","date":"2025-09-16","kind":"sale","planned":false,"acquired":false,"shares":11995,"price":36.3625,"value":436168.1875,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"This Form 4 reports the following sales of Series D Preferred Stock on September 16, 2025: (i) SAI sold 11,995 shares at $36.3625 per share, (ii) SAF sold 1,712 shares at $36.3625 per share, and (iii) SVP VII sold 2,293 shares at $36.3625 per share."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"These securities are owned directly by Stilwell Activist Investments, L.P. (\"SAI\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":91778,"derivative":{"exercise_price":17095680,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-25-089042","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":9,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025089042/ownership.xml","form_type":"4"}},{"id":1036680,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-09-18T20:40:25.000Z","date":"2025-09-17","kind":"sale","planned":false,"acquired":false,"shares":14288,"price":14.47,"value":206747.36,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales on September 16, 2025: (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 11,941 shares at $14.4000; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 2,106 shares at $14.4000; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 5,953 shares at $14.4000. This Form 4 also reports the following sales on September 17, 2025: (a) SAI sold 28,657 shares at $14.4700; (b) SAF sold 5,055 shares at $14.4700; and (c) SVP VII sold 14,288 shares at $14.4700."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F5","text":"These are shares owned directly by SVP VII and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":590410,"source":{"system":"sec-edgar","filing":"0001104659-25-091309","document":"tm2526479-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":7,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925091309/tm2526479-1_4seq1.xml","form_type":"4"}},{"id":1036679,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-09-18T20:40:25.000Z","date":"2025-09-17","kind":"sale","planned":false,"acquired":false,"shares":5055,"price":14.47,"value":73145.85,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales on September 16, 2025: (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 11,941 shares at $14.4000; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 2,106 shares at $14.4000; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 5,953 shares at $14.4000. This Form 4 also reports the following sales on September 17, 2025: (a) SAI sold 28,657 shares at $14.4700; (b) SAF sold 5,055 shares at $14.4700; and (c) SVP VII sold 14,288 shares at $14.4700."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"These are shares owned directly by SAF and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":457181,"source":{"system":"sec-edgar","filing":"0001104659-25-091309","document":"tm2526479-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":6,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925091309/tm2526479-1_4seq1.xml","form_type":"4"}},{"id":1036678,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-09-18T20:40:25.000Z","date":"2025-09-17","kind":"sale","planned":false,"acquired":false,"shares":28657,"price":14.47,"value":414666.79,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales on September 16, 2025: (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 11,941 shares at $14.4000; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 2,106 shares at $14.4000; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 5,953 shares at $14.4000. This Form 4 also reports the following sales on September 17, 2025: (a) SAI sold 28,657 shares at $14.4700; (b) SAF sold 5,055 shares at $14.4700; and (c) SVP VII sold 14,288 shares at $14.4700."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These are shares owned directly by SAI and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":3550382,"source":{"system":"sec-edgar","filing":"0001104659-25-091309","document":"tm2526479-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":5,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925091309/tm2526479-1_4seq1.xml","form_type":"4"}},{"id":1036677,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-09-18T20:40:25.000Z","date":"2025-09-16","kind":"sale","planned":false,"acquired":false,"shares":5953,"price":14.4,"value":85723.2,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales on September 16, 2025: (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 11,941 shares at $14.4000; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 2,106 shares at $14.4000; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 5,953 shares at $14.4000. This Form 4 also reports the following sales on September 17, 2025: (a) SAI sold 28,657 shares at $14.4700; (b) SAF sold 5,055 shares at $14.4700; and (c) SVP VII sold 14,288 shares at $14.4700."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F5","text":"These are shares owned directly by SVP VII and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":604698,"source":{"system":"sec-edgar","filing":"0001104659-25-091309","document":"tm2526479-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":4,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925091309/tm2526479-1_4seq1.xml","form_type":"4"}},{"id":1036676,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-09-18T20:40:25.000Z","date":"2025-09-16","kind":"sale","planned":false,"acquired":false,"shares":2106,"price":14.4,"value":30326.4,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales on September 16, 2025: (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 11,941 shares at $14.4000; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 2,106 shares at $14.4000; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 5,953 shares at $14.4000. This Form 4 also reports the following sales on September 17, 2025: (a) SAI sold 28,657 shares at $14.4700; (b) SAF sold 5,055 shares at $14.4700; and (c) SVP VII sold 14,288 shares at $14.4700."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"These are shares owned directly by SAF and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":462236,"source":{"system":"sec-edgar","filing":"0001104659-25-091309","document":"tm2526479-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925091309/tm2526479-1_4seq1.xml","form_type":"4"}},{"id":1036675,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-09-18T20:40:25.000Z","date":"2025-09-16","kind":"sale","planned":false,"acquired":false,"shares":11941,"price":14.4,"value":171950.4,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales on September 16, 2025: (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 11,941 shares at $14.4000; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 2,106 shares at $14.4000; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 5,953 shares at $14.4000. This Form 4 also reports the following sales on September 17, 2025: (a) SAI sold 28,657 shares at $14.4700; (b) SAF sold 5,055 shares at $14.4700; and (c) SVP VII sold 14,288 shares at $14.4700."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These are shares owned directly by SAI and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":3579039,"source":{"system":"sec-edgar","filing":"0001104659-25-091309","document":"tm2526479-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925091309/tm2526479-1_4seq1.xml","form_type":"4"}},{"id":1044357,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-09-10T22:36:42.000Z","date":"2025-09-08","kind":"sale","planned":false,"acquired":false,"shares":7505,"price":14.41,"value":108147.05,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales on September 8, 2025: (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 14,944 shares at $14.4100; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 2,551 shares at $14.4100; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 7,505 shares at $14.4100."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F5","text":"These are shares owned directly by SVP VII and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":610651,"source":{"system":"sec-edgar","filing":"0001104659-25-089153","document":"tm2525816-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":4,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925089153/tm2525816-1_4seq1.xml","form_type":"4"}},{"id":1044356,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-09-10T22:36:42.000Z","date":"2025-09-08","kind":"sale","planned":false,"acquired":false,"shares":2551,"price":14.41,"value":36759.91,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales on September 8, 2025: (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 14,944 shares at $14.4100; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 2,551 shares at $14.4100; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 7,505 shares at $14.4100."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"These are shares owned directly by SAF and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":464342,"source":{"system":"sec-edgar","filing":"0001104659-25-089153","document":"tm2525816-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925089153/tm2525816-1_4seq1.xml","form_type":"4"}},{"id":1044355,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"Stilwell Joseph","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"Stilwell Associates, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-09-10T22:36:42.000Z","date":"2025-09-08","kind":"sale","planned":false,"acquired":false,"shares":14944,"price":14.41,"value":215343.04,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales on September 8, 2025: (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 14,944 shares at $14.4100; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 2,551 shares at $14.4100; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 7,505 shares at $14.4100."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These are shares owned directly by SAI and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":3590980,"source":{"system":"sec-edgar","filing":"0001104659-25-089153","document":"tm2525816-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925089153/tm2525816-1_4seq1.xml","form_type":"4"}},{"id":1056211,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-08-26T21:38:00.000Z","date":"2025-08-22","kind":"sale","planned":false,"acquired":false,"shares":22586,"price":14.1784,"value":320233.3424,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales on August 22, 2025: (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 44,772 shares at $14.1784; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 7,642 shares at $14.1784; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 22,586 shares at $14.1784."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F5","text":"These are shares owned directly by SVP VII and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":618156,"source":{"system":"sec-edgar","filing":"0001104659-25-083161","document":"tm2524429-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":4,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925083161/tm2524429-1_4seq1.xml","form_type":"4"}},{"id":1056210,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-08-26T21:38:00.000Z","date":"2025-08-22","kind":"sale","planned":false,"acquired":false,"shares":7642,"price":14.1784,"value":108351.3328,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales on August 22, 2025: (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 44,772 shares at $14.1784; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 7,642 shares at $14.1784; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 22,586 shares at $14.1784."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"These are shares owned directly by SAF and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":466893,"source":{"system":"sec-edgar","filing":"0001104659-25-083161","document":"tm2524429-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925083161/tm2524429-1_4seq1.xml","form_type":"4"}},{"id":1056209,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-08-26T21:38:00.000Z","date":"2025-08-22","kind":"sale","planned":false,"acquired":false,"shares":44772,"price":14.1784,"value":634795.3248,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales on August 22, 2025: (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 44,772 shares at $14.1784; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 7,642 shares at $14.1784; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 22,586 shares at $14.1784."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These are shares owned directly by SAI and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":3605924,"source":{"system":"sec-edgar","filing":"0001104659-25-083161","document":"tm2524429-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925083161/tm2524429-1_4seq1.xml","form_type":"4"}},{"id":1060814,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-08-20T23:20:27.000Z","date":"2025-08-18","kind":"sale","planned":false,"acquired":false,"shares":9410,"price":14.1631,"value":133274.771,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales: on August 18, 2025 (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 23,779 shares at $13.95, and 18,835 shares at $14.1631; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 4,098 shares at $13.95, and 3,184 shares at $14.1631; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 12,123 shares at $13.95, and 9,410 shares at $14,1631."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F5","text":"These are shares owned directly by SVP VII and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":640742,"source":{"system":"sec-edgar","filing":"0001104659-25-081007","document":"tm2524039-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":7,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925081007/tm2524039-1_4seq1.xml","form_type":"4"}},{"id":1060813,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-08-20T23:20:27.000Z","date":"2025-08-18","kind":"sale","planned":false,"acquired":false,"shares":3184,"price":14.1631,"value":45095.3104,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales: on August 18, 2025 (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 23,779 shares at $13.95, and 18,835 shares at $14.1631; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 4,098 shares at $13.95, and 3,184 shares at $14.1631; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 12,123 shares at $13.95, and 9,410 shares at $14,1631."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"These are shares owned directly by SAF and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":474535,"source":{"system":"sec-edgar","filing":"0001104659-25-081007","document":"tm2524039-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":6,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925081007/tm2524039-1_4seq1.xml","form_type":"4"}},{"id":1060812,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-08-20T23:20:27.000Z","date":"2025-08-18","kind":"sale","planned":false,"acquired":false,"shares":18835,"price":14.1631,"value":266761.9885,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales: on August 18, 2025 (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 23,779 shares at $13.95, and 18,835 shares at $14.1631; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 4,098 shares at $13.95, and 3,184 shares at $14.1631; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 12,123 shares at $13.95, and 9,410 shares at $14,1631."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These are shares owned directly by SAI and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":3650696,"source":{"system":"sec-edgar","filing":"0001104659-25-081007","document":"tm2524039-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":5,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925081007/tm2524039-1_4seq1.xml","form_type":"4"}},{"id":1060811,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-08-20T23:20:27.000Z","date":"2025-08-18","kind":"sale","planned":false,"acquired":false,"shares":12123,"price":13.95,"value":169115.85,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales: on August 18, 2025 (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 23,779 shares at $13.95, and 18,835 shares at $14.1631; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 4,098 shares at $13.95, and 3,184 shares at $14.1631; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 12,123 shares at $13.95, and 9,410 shares at $14,1631."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F5","text":"These are shares owned directly by SVP VII and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":650152,"source":{"system":"sec-edgar","filing":"0001104659-25-081007","document":"tm2524039-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":4,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925081007/tm2524039-1_4seq1.xml","form_type":"4"}},{"id":1060810,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-08-20T23:20:27.000Z","date":"2025-08-18","kind":"sale","planned":false,"acquired":false,"shares":4098,"price":13.95,"value":57167.1,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales: on August 18, 2025 (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 23,779 shares at $13.95, and 18,835 shares at $14.1631; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 4,098 shares at $13.95, and 3,184 shares at $14.1631; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 12,123 shares at $13.95, and 9,410 shares at $14,1631."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"These are shares owned directly by SAF and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":477719,"source":{"system":"sec-edgar","filing":"0001104659-25-081007","document":"tm2524039-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925081007/tm2524039-1_4seq1.xml","form_type":"4"}},{"id":1060809,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-08-20T23:20:27.000Z","date":"2025-08-18","kind":"sale","planned":false,"acquired":false,"shares":23779,"price":13.95,"value":331717.05,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales: on August 18, 2025 (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 23,779 shares at $13.95, and 18,835 shares at $14.1631; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 4,098 shares at $13.95, and 3,184 shares at $14.1631; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 12,123 shares at $13.95, and 9,410 shares at $14,1631."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These are shares owned directly by SAI and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":3669531,"source":{"system":"sec-edgar","filing":"0001104659-25-081007","document":"tm2524039-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925081007/tm2524039-1_4seq1.xml","form_type":"4"}},{"id":1090929,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series B Convertible Preferred Stock","published_at":"2025-07-08T17:39:42.000Z","date":"2025-07-03","kind":"sale","planned":false,"acquired":false,"shares":715,"price":4,"value":2860.0,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.0000006 shares of the Issuer's common stock (a conversion price of $40,320,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F8","text":"This Form 4 reports the following sales of Series B Preferred Stock on July 3, 2025: (i) SAI sold 3,151 shares at $4.00 per share, and (ii) SVP VII sold 715 shares at $4.00 per share."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.0000006 shares of the Issuer's common stock (a conversion price of $40,320,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.0000006 shares of the Issuer's common stock (a conversion price of $40,320,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.0000006 shares of the Issuer's common stock (a conversion price of $40,320,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These securities are owned directly by Stilwell Value Partners VII, L.P. (\"SVP VII\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":130484,"derivative":{"exercise_price":40320000,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-25-062016","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":15,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025062016/ownership.xml","form_type":"4"}},{"id":1090928,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series B Convertible Preferred Stock","published_at":"2025-07-08T17:39:42.000Z","date":"2025-07-03","kind":"sale","planned":false,"acquired":false,"shares":3151,"price":4,"value":12604.0,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.0000006 shares of the Issuer's common stock (a conversion price of $40,320,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F8","text":"This Form 4 reports the following sales of Series B Preferred Stock on July 3, 2025: (i) SAI sold 3,151 shares at $4.00 per share, and (ii) SVP VII sold 715 shares at $4.00 per share."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.0000006 shares of the Issuer's common stock (a conversion price of $40,320,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.0000006 shares of the Issuer's common stock (a conversion price of $40,320,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F9","text":"Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.0000006 shares of the Issuer's common stock (a conversion price of $40,320,000 per share of common stock). Series B Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"These securities are owned directly by Stilwell Activist Investments, L.P. (\"SAI\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":575494,"derivative":{"exercise_price":40320000,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-25-062016","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":13,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025062016/ownership.xml","form_type":"4"}},{"id":1096578,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2025-07-02T23:18:38.000Z","date":"2025-06-30","kind":"other","planned":false,"acquired":true,"shares":452,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"As disclosed in the Issuer's Form 8-K filed with the Securities and Exchange Commission on May 22, 2025, the Issuer determined that interest on the Notes payable on June 30, 2025, would be paid in the form of Series D Preferred Stock. On June 30, 2025, the Issuer issued shares of Series D Preferred Stock to the Reporting Person as payment of interest with respect to the Notes, in accordance with the terms thereof and of the Indenture among the Issuer and Wilmington Savings Fund Society, FSB, as Trustee, governing the terms of the Notes (the \"Indenture\")."},{"field":"price","element":"transactionPricePerShare","label":"F9","text":"In accordance with the terms of the Indenture, the number of shares of Series D Preferred Stock paid as interest on the Notes on June 30, 2025 was determined based on a per share value of $18.58379, calculated as the product of (x) the average of the per share volume-weighted average prices for Series D Preferred Stock for the 15 consecutive trading days ending on the third business day immediately preceding the interest payment date, and (y) 0.55."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"These securities are owned directly by Stilwell Associates, L.P. (\"SA\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SA. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":1361,"derivative":{"exercise_price":17095680,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-25-061149","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":12,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025061149/ownership.xml","form_type":"4"}},{"id":1096577,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2025-07-02T23:18:38.000Z","date":"2025-06-30","kind":"other","planned":false,"acquired":true,"shares":7769,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"As disclosed in the Issuer's Form 8-K filed with the Securities and Exchange Commission on May 22, 2025, the Issuer determined that interest on the Notes payable on June 30, 2025, would be paid in the form of Series D Preferred Stock. On June 30, 2025, the Issuer issued shares of Series D Preferred Stock to the Reporting Person as payment of interest with respect to the Notes, in accordance with the terms thereof and of the Indenture among the Issuer and Wilmington Savings Fund Society, FSB, as Trustee, governing the terms of the Notes (the \"Indenture\")."},{"field":"price","element":"transactionPricePerShare","label":"F9","text":"In accordance with the terms of the Indenture, the number of shares of Series D Preferred Stock paid as interest on the Notes on June 30, 2025 was determined based on a per share value of $18.58379, calculated as the product of (x) the average of the per share volume-weighted average prices for Series D Preferred Stock for the 15 consecutive trading days ending on the third business day immediately preceding the interest payment date, and (y) 0.55."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These securities are owned directly by Stilwell Value Partners VII, L.P. (\"SVP VII\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":20452,"derivative":{"exercise_price":17095680,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-25-061149","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":11,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025061149/ownership.xml","form_type":"4"}},{"id":1096576,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2025-07-02T23:18:38.000Z","date":"2025-06-30","kind":"other","planned":false,"acquired":true,"shares":4943,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"As disclosed in the Issuer's Form 8-K filed with the Securities and Exchange Commission on May 22, 2025, the Issuer determined that interest on the Notes payable on June 30, 2025, would be paid in the form of Series D Preferred Stock. On June 30, 2025, the Issuer issued shares of Series D Preferred Stock to the Reporting Person as payment of interest with respect to the Notes, in accordance with the terms thereof and of the Indenture among the Issuer and Wilmington Savings Fund Society, FSB, as Trustee, governing the terms of the Notes (the \"Indenture\")."},{"field":"price","element":"transactionPricePerShare","label":"F9","text":"In accordance with the terms of the Indenture, the number of shares of Series D Preferred Stock paid as interest on the Notes on June 30, 2025 was determined based on a per share value of $18.58379, calculated as the product of (x) the average of the per share volume-weighted average prices for Series D Preferred Stock for the 15 consecutive trading days ending on the third business day immediately preceding the interest payment date, and (y) 0.55."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"These securities are owned directly by Stilwell Activist Fund, L.P. (\"SAF\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":14887,"derivative":{"exercise_price":17095680,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-25-061149","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":10,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025061149/ownership.xml","form_type":"4"}},{"id":1096575,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2025-07-02T23:18:38.000Z","date":"2025-06-30","kind":"other","planned":false,"acquired":true,"shares":34467,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F7","text":"As disclosed in the Issuer's Form 8-K filed with the Securities and Exchange Commission on May 22, 2025, the Issuer determined that interest on the Notes payable on June 30, 2025, would be paid in the form of Series D Preferred Stock. On June 30, 2025, the Issuer issued shares of Series D Preferred Stock to the Reporting Person as payment of interest with respect to the Notes, in accordance with the terms thereof and of the Indenture among the Issuer and Wilmington Savings Fund Society, FSB, as Trustee, governing the terms of the Notes (the \"Indenture\")."},{"field":"price","element":"transactionPricePerShare","label":"F9","text":"In accordance with the terms of the Indenture, the number of shares of Series D Preferred Stock paid as interest on the Notes on June 30, 2025 was determined based on a per share value of $18.58379, calculated as the product of (x) the average of the per share volume-weighted average prices for Series D Preferred Stock for the 15 consecutive trading days ending on the third business day immediately preceding the interest payment date, and (y) 0.55."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F8","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"These securities are owned directly by Stilwell Activist Investments, L.P. (\"SAI\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":103773,"derivative":{"exercise_price":17095680,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-25-061149","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":9,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025061149/ownership.xml","form_type":"4"}},{"id":1098502,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-07-01T21:52:11.000Z","date":"2025-06-30","kind":"sale","planned":false,"acquired":false,"shares":18763,"price":13.9049,"value":260897.6387,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales: on June 27, 2025  (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 85,191 shares at $14.0327; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 11,224 shares at $14.0327; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 31,828 shares at $14.0327; and on June 30, 2025 (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 8,319 shares at $13.90497; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 5,896 shares at $13.90497; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 18,763 shares at $13.90497."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F5","text":"These are shares owned directly by SVP VII and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":662275,"source":{"system":"sec-edgar","filing":"0001104659-25-064846","document":"tm2519640-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":7,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925064846/tm2519640-1_4seq1.xml","form_type":"4"}},{"id":1098501,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-07-01T21:52:11.000Z","date":"2025-06-30","kind":"sale","planned":false,"acquired":false,"shares":5896,"price":13.9049,"value":81983.2904,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales: on June 27, 2025  (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 85,191 shares at $14.0327; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 11,224 shares at $14.0327; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 31,828 shares at $14.0327; and on June 30, 2025 (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 8,319 shares at $13.90497; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 5,896 shares at $13.90497; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 18,763 shares at $13.90497."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"These are shares owned directly by SAF and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":481817,"source":{"system":"sec-edgar","filing":"0001104659-25-064846","document":"tm2519640-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":6,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925064846/tm2519640-1_4seq1.xml","form_type":"4"}},{"id":1098500,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-07-01T21:52:11.000Z","date":"2025-06-30","kind":"sale","planned":false,"acquired":false,"shares":8319,"price":13.9049,"value":115674.8631,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales: on June 27, 2025  (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 85,191 shares at $14.0327; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 11,224 shares at $14.0327; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 31,828 shares at $14.0327; and on June 30, 2025 (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 8,319 shares at $13.90497; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 5,896 shares at $13.90497; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 18,763 shares at $13.90497."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These are shares owned directly by SAI and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":3693310,"source":{"system":"sec-edgar","filing":"0001104659-25-064846","document":"tm2519640-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":5,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925064846/tm2519640-1_4seq1.xml","form_type":"4"}},{"id":1098499,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-07-01T21:52:11.000Z","date":"2025-06-27","kind":"sale","planned":false,"acquired":false,"shares":31828,"price":14.0327,"value":446632.7756,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales: on June 27, 2025  (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 85,191 shares at $14.0327; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 11,224 shares at $14.0327; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 31,828 shares at $14.0327; and on June 30, 2025 (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 8,319 shares at $13.90497; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 5,896 shares at $13.90497; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 18,763 shares at $13.90497."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F5","text":"These are shares owned directly by SVP VII and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":681038,"source":{"system":"sec-edgar","filing":"0001104659-25-064846","document":"tm2519640-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":4,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925064846/tm2519640-1_4seq1.xml","form_type":"4"}},{"id":1098498,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-07-01T21:52:11.000Z","date":"2025-06-27","kind":"sale","planned":false,"acquired":false,"shares":11224,"price":14.0327,"value":157503.0248,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales: on June 27, 2025  (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 85,191 shares at $14.0327; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 11,224 shares at $14.0327; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 31,828 shares at $14.0327; and on June 30, 2025 (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 8,319 shares at $13.90497; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 5,896 shares at $13.90497; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 18,763 shares at $13.90497."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"These are shares owned directly by SAF and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":487713,"source":{"system":"sec-edgar","filing":"0001104659-25-064846","document":"tm2519640-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925064846/tm2519640-1_4seq1.xml","form_type":"4"}},{"id":1098497,"issuer":{"id":5976,"kind":"organization","name":"KINGSWAY Corp","symbol":"KWY"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":3,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":5,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":6,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2025-07-01T21:52:11.000Z","date":"2025-06-27","kind":"sale","planned":false,"acquired":false,"shares":85191,"price":14.0327,"value":1195459.7457,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"This Form 4 reports the following sales: on June 27, 2025  (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 85,191 shares at $14.0327; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 11,224 shares at $14.0327; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 31,828 shares at $14.0327; and on June 30, 2025 (a) Stilwell Activist Investments, L.P. (\"SAI\") sold 8,319 shares at $13.90497; (b) Stilwell Activist Fund, L.P. (\"SAF\") sold 5,896 shares at $13.90497; and (c) Stilwell Value Partners VII, L.P. (\"SVP VII\") sold 18,763 shares at $13.90497."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These are shares owned directly by SAI and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC (\"Value\"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":3701629,"source":{"system":"sec-edgar","filing":"0001104659-25-064846","document":"tm2519640-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/913960/000110465925064846/tm2519640-1_4seq1.xml","form_type":"4"}},{"id":1112484,"issuer":{"id":8666,"kind":"organization","name":"Wheeler Real Estate Investment Trust, Inc.","symbol":"WHLR"},"owners":[{"id":23076,"kind":"person","name":"Stilwell Joseph","position":1,"cik":"0001113303","reported_name":"STILWELL JOSEPH","relationship":{"director":true,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23077,"kind":"organization","name":"Stilwell Value LLC","position":2,"cik":"0001397076","reported_name":"Stilwell Value LLC","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23080,"kind":"organization","name":"Stilwell Activist Investments, L.P.","position":3,"cik":"0001573720","reported_name":"Stilwell Activist Investments, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23079,"kind":"organization","name":"Stilwell Activist Fund, L.P.","position":4,"cik":"0001564452","reported_name":"Stilwell Activist Fund, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23081,"kind":"organization","name":"Stilwell Value Partners VII, L.P.","position":5,"cik":"0001555931","reported_name":"Stilwell Value Partners VII, L.P.","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}},{"id":23078,"kind":"organization","name":"Stilwell Associates, L.P.","position":6,"cik":"0000913960","reported_name":"STILWELL ASSOCIATES L P","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Series D Cumulative Convertible Preferred Stock","published_at":"2025-06-13T23:00:28.000Z","date":"2025-06-12","kind":"sale","planned":false,"acquired":false,"shares":2414,"price":33.2264,"value":80208.5296,"ownership":{"direct":false,"nature":"See footnote"},"footnotes":[{"field":"derivative.exercise_price","element":"conversionOrExercisePrice","label":"F9","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"shares","element":"transactionShares","label":"F10","text":"This Form 4 reports the following sales of Series D Preferred Stock on June 12, 2025: (i) SAI sold 13,193 shares at $33.2264 per share, (ii) SAF sold 1,893 shares at $33.2264 per share, and (iii) SVP VII sold 2,414 shares at $33.2264 per share."},{"field":"derivative.exercise_date","element":"exerciseDate","label":"F9","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.expiration_date","element":"expirationDate","label":"F9","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"derivative.underlying_shares","element":"underlyingSecurityShares","label":"F9","text":"Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock). Series D Preferred Stock has no expiration date."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"These securities are owned directly by Stilwell Value Partners VII, L.P. (\"SVP VII\") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein."}],"balance_after":12683,"derivative":{"exercise_price":17095680,"underlying":"Common Stock","underlying_shares":0},"source":{"system":"sec-edgar","filing":"0001213900-25-054414","document":"ownership.xml","document_sequence":1,"table":"derivative","row_type":"transaction","position":11,"url":"https://www.sec.gov/Archives/edgar/data/913960/000121390025054414/ownership.xml","form_type":"4"}}],"next_cursor":"2025-06-13T23:00:28.000000Z,1112484"}