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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
819913	Hallmark Financial Services Inc	HALL	Insurance Carriers, Nec (6399)	870447375

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
932334	P L Partners Newcastle	200 Crescent Court Suite 1400 Dallas TX 75201		No	No	Yes	No
1208889	E Mark Schwarz	200 Crescent Court Suite 1400 Dallas TX 75201	Executive Chairman	Yes	Yes	Yes	No
1251293	Newcastle Capital Group Llc	200 Crescent Court Suite 1400 Dallas TX 75201		No	No	Yes	No
1251296	Newcastle Capital Management Lp	200 Crescent Court Suite 1400 Dallas TX 75201		No	No	Yes	No
1586760	Trust Family 2012 Schwarz	200 Crescent Court Suite 1400 Dallas TX 75201		No	No	Yes	No
1586784	Ncm Services, Inc.	200 Crescent Court Suite 1400 Dallas TX 75201		No	No	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2014-04-17	20,000	$8.10	154,376	No	4	P	Indirect	Shares directly owned by Newcastle Capital Management, L.P.
Common Stock	Acquisiton	2014-04-21	18,400	$8.11	172,776	No	4	P	Indirect	Shares directly owned by Newcastle Capital Management, L.P.

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	Shares directly owned by Newcastle Capital Management, L.P.
No	4	P	Indirect	Shares directly owned by Newcastle Capital Management, L.P.

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	130,805	Direct
Common Stock	949,702	Indirect	Shares directly owned by NCM Services, Inc.
Common Stock	3,730,432	Indirect	Shares directly owned by Newcastle Partners, L.P.

Reported Derivative Holdings

Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Director Stock Option (right to buy)	$12.52	2017-05-24	10,000	10,000	Direct
Common Stock	Director Stock Option (right to buy)	$11.46	2018-05-22	5,000	5,000	Direct
Common Stock	Director Stock Option (right to buy)	$6.61	2019-04-01	200,000	200,000	Direct
Common Stock	Director Stock Option (right to buy)	$6.99	2021-12-31	14,157	14,157	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2017-05-24	10,000	10,000	Direct
2018-05-22	5,000	5,000	Direct
2019-04-01	200,000	200,000	Direct
2021-12-31	14,157	14,157	Direct

Footnotes

Shares owned directly by Mr. Schwarz.
Represents the weighted average purchase price of transactions effected at prices ranging from $8.08 per share to $8.10 per share. Upon written request by the SEC, the Issuer or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares purchased at each separate price.
Represents the weighted average purchase price of transactions effected at prices ranging from $8.10 per share to $8.12 per share. Upon written request by the SEC, the Issuer or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares purchased at each separate price.
Mr. Schwarz is the sole trustee of the Schwarz 2012 Family Trust (the "Trust") and a director and officer of NCM Services, Inc. ("NCMS"). The Trust is the sole shareholder of NCMS, which is the sole member of Newcastle Capital Group, L.L.C. ("NCG"), which is the general partner of Newcastle Capital Management, L.P. ("NCM"), which is the general partner of Newcastle Partners, L.P. ("NP"). Accordingly, Mr. Schwarz may be deemed the beneficial owner of all shares held by any of the Trust, NCMS, NCG, NCM or NP, and each of these entities may be deemed the beneficial owner of all shares held by the entities which they directly or indirectly own or control.
Options are presently fully exercisable.
Options directly owned by Mr. Schwarz.
Options vest in seven equal annual installments commencing April 1, 2010.