FG (FGH) Form 4 1347 Property Insurance / Kyle Cerminara ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Fundamental Global Investors, LLC

(Last) (First) (Middle)

4201 CONGRESS STREET, SUITE 140

(Street)

CHARLOTTE NC 28209

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
1347 Property Insurance Holdings, Inc. [ PIH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/01/2018

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $0.001 par value	01/01/2018		J(4)		2,000	A	$7.2499	700,687(1)(2)(3)	I	Fundamental Activist Fund I, LP
Common Stock, $0.001 par value	01/01/2018		J(5)		207,769	D	$7.2499	0(1)(2)(3)	I	Fundamental Global Partners, LP
Common Stock, $0.001 par value	01/01/2018		J(5)		207,769	A	$7.2499	403,156(1)(2)(3)	I	Fundamental Global Partners Master Fund, LP
Common Stock, $0.001 par value								5,296(1)(2)(3)	I	FGI Global Asset Allocation Fund, Ltd.
Common Stock, $0.001 par value								4,532(1)(2)(3)	I	FGI Global Asset Allocation Master Fund, LP
Common Stock, $0.001 par value								1,038,409(1)(2)(3)	I	Ballantyne Strong, Inc.

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Fundamental Global Investors, LLC

(Last) (First) (Middle)

4201 CONGRESS STREET, SUITE 140

(Street)

CHARLOTTE NC 28209

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

BALLANTYNE STRONG, INC.

(Last) (First) (Middle)

11422 MIRACLE HILLS DRIVE

SUITE 300

(Street)

OMAHA NE 68154

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

Cerminara Kyle

(Last) (First) (Middle)

C/O FUNDAMENTAL GLOBAL INVESTORS, LLC

4201 CONGRESS STREET, SUITE 140

(Street)

CHARLOTTE NC 28209

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

Johnson Lewis M

(Last) (First) (Middle)

C/O FUNDAMENTAL GLOBAL INVESTORS, LLC

4201 CONGRESS STREET, SUITE 140

(Street)

CHARLOTTE NC 28209

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

MOGLIA JOSEPH H

(Last) (First) (Middle)

C/O FUNDAMENTAL GLOBAL INVESTORS, LLC

4201 CONGRESS STREET, SUITE 140

(Street)

CHARLOTTE NC 28209

(City) (State) (Zip)

Explanation of Responses:

1. The Reporting Persons beneficially own in the aggregate 2,152,080 shares of Common Stock, which represent approximately 36.0% of the Company's outstanding shares of Common Stock. Fundamental Global Investors, LLC may be deemed to be a beneficial owner of the shares of Common Stock that are directly owned by Fundamental Global Partners, LP ("FGPP"), Fundamental Global Partners Master Fund, LP ("FGPM"), FGI Global Asset Allocation Fund, Ltd. ("FGAA"), FGI Global Asset Allocation Master Fund, LP ("FGGM"), Fundamental Activist Fund I, LP ("FAFI") and Ballantyne Strong, Inc. ("BTN").

2. CWA Asset Management Group, LLC, of which 50% is owned by Fundamental Global Investors, LLC, holds 63,898 shares of Common Stock for the accounts of individual investors, which represent approximately 1.1% of the Company's outstanding shares of Common Stock. Messrs. Cerminara and Johnson also hold shares of Common Stock.

3. Due to their positions with Fundamental Global Investors, LLC and affiliated entities, Messrs. Cerminara, Lewis M. Johnson and Joseph H. Moglia may be deemed to be beneficial owners of the shares of Common Stock disclosed as directly owned by FGPP, FGPM, FGAA, FGGM and FAFI. Due to their positions with BTN, Fundamental Global Investors, LLC and affiliated entities, Messrs. Cerminara and Johnson may be deemed to be beneficial owners of the shares of Common Stock disclosed as directly owned by BTN. Each Reporting Person disclaims beneficial ownership of the shares referred to herein except to the extent of his or its pecuniary interest therein.

4. Investor contributions in-kind.

5. Transfer in connection with FGPP becoming a feeder fund to FGPM. Accordingly, there was no change in the aggregate beneficial ownership of the Reporting Persons.

	FUNDAMENTAL GLOBAL INVESTORS, LLC, /s/ D. Kyle Cerminara, Chief Executive Officer, Partner and Manager	01/03/2018
	BALLANTYNE STRONG, INC., /s/ D. Kyle Cerminara, Chief Executive Officer	01/03/2018
	/s/ D. Kyle Cerminara	01/03/2018
	/s/ Lewis M. Johnson	01/03/2018
	/s/ Joseph H. Moglia	01/03/2018
	** Signature of Reporting Person	Date
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