Form 4: UTG Inc. CEO Jesse Correll Increases Indirect Stake Through Entity Redemption

UTG Inc.'s Chairman and CEO, Jesse T. Correll, increased his indirect beneficial ownership of 12,039 common shares through a redemption of membership interests in First Southern Funding, LLC, effective July 18, 2025.

Summary

• Jesse T. Correll, Chairman and CEO of UTG Inc., acquired 12,039 shares of UTG Inc. common stock indirectly.
• The acquisition occurred on July 18, 2025, and was a result of a redemption of membership interests within First Southern Funding, LLC.
• First Southern Funding, LLC redeemed 22.94 units (2.86% interest) from two members.
• This redemption increased Mr. Correll's (and his spouse's) membership interest in First Southern Funding, LLC by 2.47%.
• The 12,039 acquired shares represent 2.47% of the UTG shares held by First Southern Funding, LLC.
• No separate price was stated for these shares, indicating it was not a direct cash purchase but a re-allocation of ownership within an existing entity.
• Following the transaction, Mr. Correll's total beneficial ownership includes 81,562 direct shares and 1,966,492 indirect shares through various entities (First Southern Funding, LLC; WCorrell, Limited Partnership; First Southern Bancorp, Inc.; and First Southern Holdings, LLC).

Sentiment

Score: 8

Explanation: The increase in beneficial ownership by a key insider (Chairman & CEO, 10% Owner) is generally viewed positively by the market as it indicates strong confidence in the company's future performance. While the acquisition was not a direct cash purchase of shares, it still consolidates the insider's stake.

Positives

• Increased beneficial ownership by a key insider (Chairman & CEO, 10% Owner) signals confidence in the company's future.
• The acquisition of shares without a direct cash outlay for the shares themselves (due to a structural change in an investment vehicle) can be seen as an efficient way to consolidate ownership.

Future Outlook

NA

Industry Context

This transaction is an internal ownership adjustment for a key executive and does not directly reflect broader industry trends, though increased insider ownership can generally be seen as a positive signal within any industry.

Related Party Transactions

• The transaction involves First Southern Funding, LLC, where the reporting person, Jesse T. Correll, is President and Manager.
• The redemption of membership interests from other members of First Southern Funding, LLC directly increased Mr. Correll's pecuniary interest and beneficial ownership of UTG Inc. shares held by that entity.

Stakeholder Impact

• Shareholders: May view the increased insider ownership as a positive signal of management's confidence in the company's future value.

Key Dates

Recommendation

Keywords

UTG Inc., UTGN, Jesse T. Correll, SEC Form 4, beneficial ownership, insider transaction, common stock, First Southern Funding, LLC, corporate governance, CEO, Chairman, 10% owner