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Filing Details

Accession Number:: 0001209191-10-040892
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-08-03 13:00:00
Reporting Period:: 2010-06-11

Filing Date:: 2010-08-03
Accepted Time:: 2010-08-03 17:51:07
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
38984	Signature Group Holdings Inc	SGGH.PK	State Commercial Banks (6022)	952815260

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
922294	S Kenneth Grossman	18 Norfolk Road Great Neck NY 11020		Yes	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2010-06-11	612,500	$0.80	2,697,772	No	4	P	Indirect	Kenneth Grossman Pension Plan
Common Stock	Acquisiton	2010-06-11	475,000	$0.80	475,000	No	4	P	Indirect	Partnership
Common Stock	Acquisiton	2010-06-11	237,500	$0.80	237,500	No	4	P	Indirect	Jeanne Grossman - Mother
Trust Originated Preferred Securities 9%	Disposition	2010-06-11	27,995	$24.78	0	Yes	4	J	Indirect	Kenneth Grossman Pension Plan
Common Stock	Acquisiton	2010-06-11	146,974	$0.72	146,974	Yes	4	J	Indirect	Kenneth Grossman Pension Plan
Note @ 9%	Acquisiton	2010-06-11	55	$5,000.00	55	Yes	4	J	Indirect	Kenneth Grossman Pension Plan

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	Kenneth Grossman Pension Plan
No	4	P	Indirect	Partnership
No	4	P	Indirect	Jeanne Grossman - Mother
Yes	4	J	Indirect	Kenneth Grossman Pension Plan
Yes	4	J	Indirect	Kenneth Grossman Pension Plan
Yes	4	J	Indirect	Kenneth Grossman Pension Plan

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Signature Group Holdings, Inc. - Common Shares	Warrants	Acquisiton	2010-06-01	620,000	$0.02	620,000	$1.03
Signature Group Holdings, Inc. - Common Shares	Warrants	Acquisiton	2010-06-11	620,000	$0.02	620,000	$1.03
Signature Group Holdings, Inc. - Common Shares	Warrants	Acquisiton	2010-06-11	620,000	$0.02	620,000	$1.03
Signature Group Holding, Inc. - Common Shares	Warrants	Acquisiton	2010-06-11	620,000	$0.02	620,000	$1.03
Signature Group Holding, Inc. - Common Shares	Warrants	Acquisiton	2010-06-11	620,000	$0.02	620,000	$1.03

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
3,100,000	2010-06-11	2020-06-11	No	4	P	Direct
3,100,000	2011-06-11	2020-06-11	No	4	P	Direct
3,100,000	2012-06-11	2020-06-11	No	4	P	Direct
3,100,000	2013-06-11	2020-06-11	No	4	P	Direct
3,100,000	2014-06-11	2020-06-11	No	4	P	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	100,000	Direct
Common Stock	221,301	Indirect	Grossman Family Limited Partnership
Common Stock	390,000	Indirect	Kenneth Grossman IRA

Footnotes

On June 11, 2010 Atlantic Beach Partners purchased 475,000 common shares of Signature Group Holdings, Inc (SGGH.PK) at $0.80 per share. Kenneth Grossman is a partner in Atlantic Beach with his brother.
On June 11, 2010, pursuant to a Chapter 11 Plan of Reorganization of Fremont General Corporation, the Kenneth Grossman Pension Plan exchanged 27,995 shares of Trust Originated Preferred Securities (TOPrS) for cash of $11.25 per TOPrS share, 5.25 common shares of Signature Group Holdings, Inc. (SGGH.PK) per TOPrS share and 9% Notes of $9.75 in principal per TOPrS share in denonimations of $5,000.
The TOPrS disposition price per share on conversion is calculated as follows: Cash of $11.25 per TOPrS share + Notes of $9.75 in principal per TOPrS share + $3.78 (5.25 Common Shares per TOPrS share @ $.72 per common share) = $24.78
The Closing Price of SGGH.PK on the Plan effective date of June 11, 2010 was $.72
The Notes acquisition price is based on denominations of $5,000 units @ $9.75 in prinicpal per TOPrS share. (27,995 x 9.75) / $5,000 = 54.59 Notes in denominations of $5,000 each.
On June 11, 2010, Kenneth Grossman acquired 3,100,000 Warrants for $0.02 per warrant share to purchase common shares in Signature Group Holdings, Inc. (SGGH.PK) at $1.03 per share. The Warrants vest as to common stock as follows: 20% on the Effective Date June 11, 2010, and 20% each year in annual installments thereafter until the Warrants are fully vested on the fourth anniversary date of the Effective Date.