Overview
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2022
Where the money goes
Where each dollar of revenue went, fiscal 2022
- Other costs51¢$15.3M
- Income tax25¢$7.6M
- Profit24¢$7.1M
Out of $30.0M in revenue.3
Where each dollar of operating cash went, fiscal 2022
- Capital spending3¢$1.8M
- Kept or used elsewhere97¢$71.3M
Out of $73.2M of cash from operations.3
Financial statements
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|
| Revenue | $4.1M4 | $2.4M5 | $875.8K6 | $3.4M7 | $10.6M8 | $30.1M3 | $30.0M3 |
| Operating expenses | $41.9M3 | $21.7M3 | |||||
| Operating income | -$5.2M4 | -$2.7M4 | |||||
| Income before tax | -$11.9M3 | $8.4M3 | |||||
| Income tax | $06 | $234.2K7 | $1.6M8 | $4.8M3 | $7.6M3 | ||
| Net income | -$3.8M4 | -$2.7M5 | -$5.1M6 | -$5.7M7 | -$12.4M8 | -$16.6M3 | $7.1M3 |
| Earnings per share | -$0.226 | -$4.997 | -$4.888 | -$4.453 | $1.913 | ||
| Earnings per share (diluted) | -$0.016 | -$4.987 | -$4.428 | -$4.453 | $1.883 | ||
| Shares (weighted, basic) | 3.7M shares3 | 3.7M shares3 | |||||
| Shares (weighted, diluted) | 3.7M shares3 | 3.8M shares3 |
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|
| Cash | $661.5K5 | $951.5K5 | $2.8M6 | $43.7M7 | $151.7M8 | $142.0M3 | $191.4M3 |
| Property, plant and equipment | $386.0K3 | $1.9M3 | |||||
| Intangible assets | $700.0K8 | ||||||
| Total assets | $47.3M4 | $49.7M5 | $66.5M6 | $219.9M7 | $726.4M8 | $1.2B3 | $1.9B3 |
| Long-term debt | $18.9M6 | ||||||
| Total liabilities | $43.0M4 | $47.4M5 | $69.1M6 | $205.8M7 | $640.1M8 | $1.1B3 | $1.9B3 |
| Retained earnings | -$70.2M3 | -$63.0M3 | |||||
| Shareholders’ equity | $4.3M5 | $2.2M5 | -$4.1M6 | $14.0M7 | $86.3M8 | $70.8M3 | $23.9M3 |
| Shares outstanding | 22.6M shares4 | 22.9M shares5 | 22.9M shares6 | 2.0M shares7 | 3.7M shares8 | 3.7M shares3 | 3.7M shares3 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|
| Cash from operations | -$927.1K4 | -$7.7M5 | -$20.4M6 | -$2.5M7 | -$16.2M8 | -$25.3M3 | $73.2M3 |
| Depreciation and amortization | $50.0K3 | $338.0K3 | |||||
| Stock-based compensation | $5.0M3 | $29.0K3 | |||||
| Capital spending | $33.2K4 | $32.6K5 | $12.7K6 | $45.6K7 | $69.0K8 | $331.0K3 | $1.8M3 |
| Free cash flow | -$960.3K | -$7.7M | -$20.4M | -$2.5M | -$16.3M | -$25.7M | $71.3M |
| Cash from investing | -$452.4M3 | -$708.7M3 | |||||
| Dividends paid | $43.1K4 | $30.5K5 | |||||
| Share buybacks | $175.0K8 | ||||||
| Cash from financing | $468.1M3 | $684.9M3 |
Corporate structure
MIDWEST HOLDING INC. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of MIDWEST HOLDING INC.
- David M. Knott Jr. Filed SC 13D/A on MIDWEST HOLDING INC., latest Dec 22, 2023 (3 filings since May 20, 2022)
- Douglas K. Bratton Filed SC 13D/A on MIDWEST HOLDING INC., latest May 3, 2023
- Michael Minnich Filed SC 13D/A on MIDWEST HOLDING INC., latest May 3, 2023
- WELLINGTON TRUST Co N A Filed SC 13G/A on MIDWEST HOLDING INC., latest Feb 6, 2023 (2 filings since Feb 4, 2022)
- Wellington Management Company Filed SC 13G/A on MIDWEST HOLDING INC., latest Feb 6, 2023 (2 filings since Feb 4, 2022)
- Wellington Trust Company, National Association Multiple Common Trust Funds Trust, Micro Cap Equity Portfolio Filed SC 13G/A on MIDWEST HOLDING INC., latest Feb 6, 2023 (2 filings since Feb 4, 2022)
- Anthony Michael Salem Filed SC 13D/A on MIDWEST HOLDING INC., latest Apr 12, 2022
- KNOTT PARTNERS LP Filed SC 13G/A on MIDWEST HOLDING INC., latest Feb 11, 2022 (2 filings since Dec 7, 2021)
- MIDWEST HOLDING INC. Lincoln, Nebraska
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What MIDWEST HOLDING INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Accumulated depreciation | $1.4M3 Dec 31, 2022 | $1.1M3 Dec 31, 2021 | +27.3% |
| Property and equipment, net | $1.9M3 Dec 31, 2022 | $386.0K3 Dec 31, 2021 | +391.5% |
| Operating-lease assets (leased space) | $2.1M3 Dec 31, 2022 | $2.4M3 Dec 31, 2021 | −10.2% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $191.4M3 Dec 31, 2022 | $142.0M3 Dec 31, 2021 | +34.8% |
| Debt securities available for sale | $1.2B3 Dec 31, 2022 | $683.3M3 Dec 31, 2021 | +77.8% |
| Equity securities at fair value | $5.1M3 Dec 31, 2022 | $21.9M3 Dec 31, 2021 | −76.6% |
Intangibles and goodwill
Leadership
Who has led MIDWEST HOLDING INC., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
201520202025
- Chief executive officerGeorgette C. Nicholas Dec 23, 2021 to Dec 21, 202312
- Chief executive officerAnthony Michael Salem Aug 5, 2020 to Nov 18, 202013
- Chief executive officerMichael Minnich Nov 18, 2020 to Jan 6, 202114
- Chief executive officerMark A. Oliver Jan 18, 2013 to Mar 16, 201615
- ChairMichael Minnich May 1, 2020 to Nov 12, 202016
- ChairRick D. Meyer Feb 10, 2012 to Mar 12, 201517
- PresidentGeorgette C. Nicholas Sep 16, 2021 to Sep 20, 202118
- PresidentMark A. Oliver Jul 19, 2019 to Feb 8, 202119
- PresidentTravis Meyer Feb 10, 2012 to May 3, 201220
- Chief financial officerEric N. Berg Apr 4, 2022 to Apr 4, 202221
- Chief financial officerDebra Havranek Apr 21, 2021 to Apr 21, 202122
- Chief financial officerGeorgette C. Nicholas Sep 16, 2021 to Sep 20, 202118
- Chief operating officerTodd Boeve Jan 5, 2016 to Mar 16, 201623
Board members and other officers (33)
- OfficerElliot Sperber Dec 21, 2023 to Dec 21, 202324
- OfficerThomas Bumbolow Dec 21, 2023 to Dec 21, 202325
- EVP-Accounting & Finance (PAO)Daniel Scott Maloney Jul 8, 2022 to Dec 21, 202326
- Chief Risk OfficerEoin Elliffe Jul 28, 2022 to Dec 21, 202327
- Chief Accounting OfficerSteven Oss Aug 7, 2020 to Aug 7, 202028
- Chief Risk OfficerMonaco Eric J. Del Nov 18, 2020 to Nov 19, 202029
- Vice President - FinanceJennifer Hegemann Dec 6, 2019 to Dec 6, 201930
- VP, Financial ReportingDebra Havranek Jan 5, 2016 to Jul 19, 201931
- SecretaryTodd Boeve Mar 11, 2015 to Jul 19, 201932
- Vice chairTravis Meyer Jan 17, 2013 to Mar 11, 201533
- VP, Financial ReportingChance M. Klasek Jan 22, 2013 to Jan 22, 201334
- Secretary/TreasurerMark A. Oliver Feb 10, 2012 to May 3, 201235
- Board memberGeorgette C. Nicholas Dec 21, 2023 to Dec 21, 202336
- Board memberYadin Rozov Jun 16, 2022 to Dec 21, 202337
- Board memberDiane C. Davis Nov 15, 2021 to Dec 21, 202338
- Board memberNancy Lyons Callahan Nov 15, 2021 to Dec 21, 202339
- Board memberDouglas K. Bratton May 4, 2020 to Jun 16, 202240
- Board memberAnthony Michael Salem Aug 5, 2020 to Nov 18, 202013
- Board memberMichael Minnich Nov 18, 2020 to Jan 6, 202114
- Board memberSachin Goel Jul 22, 2019 to Nov 15, 202141
- Board memberDana Stapleton Jul 29, 2019 to Jul 29, 201942
- Board memberFirman Leung Jan 10, 2017 to Dec 21, 202343
- Board memberJohn T. Hompe Jan 5, 2016 to Dec 21, 202344
- Board memberKevin Feder Apr 28, 2016 to Apr 28, 201645
- Board memberSteve C. Conner Nov 9, 2015 to Nov 9, 201546
- Board memberDouglas R. Clark Feb 10, 2012 to May 3, 201247
- Board memberJames M. Ballard Feb 10, 2012 to Oct 29, 201548
- Board memberLes Meyer Feb 10, 2012 to Oct 29, 201549
- Board memberMark A. Oliver Feb 10, 2012 to Jul 19, 201935
- Board memberMilton G. Tenopir Feb 10, 2012 to Mar 18, 201650
- Board memberTravis Meyer Feb 10, 2012 to Mar 11, 201520
- Board memberJack Theeler Jun 20, 2012 to Nov 15, 202151
- General counselStephen Alan Mace Jun 11, 2021 to Jun 11, 202152
Former names
- MIDWEST HOLDING INCNov 18, 2003 to Jul 31, 20062
Timeline
- Dec 21, 20238-K Entered a material agreement; Completed an acquisition or sale; Listing notice or transfer53
- Nov 13, 20238-K Results of operations54
- Aug 11, 20238-K Results of operations55
- Jul 26, 20238-K Shareholder vote; Other events56
- Jul 17, 20238-K Other events57
- Jun 9, 20238-K Executive or director change; Shareholder vote58
- May 15, 20238-K Results of operations59
- May 1, 20238-K Entered a material agreement; Other events60
- Mar 27, 20238-K Results of operations61
- Nov 25, 20228-K New debt or obligation62
- Oct 4, 20228-K Executive or director change63
- Sep 22, 20228-K Entered a material agreement; Executive or director change64
- Dec 23, 2021New chief executive Georgette C. Nicholas becomes CEO12
- Nov 18, 2020New chief executive Michael Minnich becomes CEO14
- Aug 5, 2020New chief executive Anthony Michael Salem becomes CEO13
- Jan 18, 2013New chief executive Mark A. Oliver becomes CEO15
Calendar
When it reported results
- Nov 13, 2023Reported quarterly or annual results54
- Aug 11, 2023Reported quarterly or annual results55
- May 15, 2023Reported quarterly or annual results59
- Mar 27, 2023Reported quarterly or annual results61
- Aug 15, 2022Reported quarterly or annual results65
- May 16, 2022Reported quarterly or annual results66
- Mar 25, 2022Reported quarterly or annual results67
- Nov 12, 2021Reported quarterly or annual results68
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
126 filings to the SEC since October 2021: 2 annual reports, 7 quarterly reports, 28 major events, 54 insider forms, 14 large holders, 21 other. The latest 20:
- Jan 5, 2024S-8 POS EDGAR
- Jan 5, 2024S-8 POS EDGAR
- Jan 5, 2024S-8 POS EDGAR
- Jan 2, 202415-12G EDGAR
- Dec 22, 2023SC 13D/A EDGAR
- Dec 22, 20234 OWNERSHIP DOCUMENT EDGAR
- Dec 21, 202325-NSE EDGAR
- Dec 21, 20234 OWNERSHIP DOCUMENT EDGAR
- Dec 21, 20234 OWNERSHIP DOCUMENT EDGAR
- Dec 21, 20234 OWNERSHIP DOCUMENT EDGAR
- Dec 21, 20234 OWNERSHIP DOCUMENT EDGAR
- Dec 21, 20234 OWNERSHIP DOCUMENT EDGAR
- Dec 21, 20234 OWNERSHIP DOCUMENT EDGAR
- Dec 21, 20234 OWNERSHIP DOCUMENT EDGAR
- Dec 21, 20234 OWNERSHIP DOCUMENT EDGAR
- Dec 21, 20234 OWNERSHIP DOCUMENT EDGAR
- Dec 21, 20234 OWNERSHIP DOCUMENT EDGAR
- Dec 21, 20234 OWNERSHIP DOCUMENT EDGAR
- Dec 21, 20234 OWNERSHIP DOCUMENT EDGAR
- Dec 21, 20233 OWNERSHIP DOCUMENT EDGAR
The 126 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
17 open-market trades by officers, directors and large owners since October 2021: 16 buys and 1 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Dec 22, 2023 | Knott David M Jr10% owner | Sale | 390,241 | $27.00 | $10.5M | Form 4 |
| Sep 23, 2022 | KNOTT PARTNERS LP10% owner | Buy | 8,075 | $14.55 | $117.5K | Form 4 |
| Sep 23, 2022 | Knott David M Jr10% owner | Buy | 8,075 | $14.55 | $117.5K | Form 4 |
| Sep 22, 2022 | KNOTT PARTNERS LP10% owner | Buy | 2,037 | $14.60 | $29.7K | Form 4 |
| Sep 22, 2022 | Knott David M Jr10% owner | Buy | 2,037 | $14.60 | $29.7K | Form 4 |
| Aug 31, 2022 | KNOTT PARTNERS LP10% owner | Buy | 1,900 | $14.60 | $27.7K | Form 4 |
| Aug 31, 2022 | Knott David M Jr10% owner | Buy | 1,900 | $14.60 | $27.7K | Form 4 |
| Aug 24, 2022 | KNOTT PARTNERS LP10% owner | Buy | 927 | $14.50 | $13.4K | Form 4 |
| Aug 24, 2022 | Knott David M Jr10% owner | Buy | 927 | $14.50 | $13.4K | Form 4 |
| Aug 15, 2022 | KNOTT PARTNERS LP10% owner | Buy | 4,039 | $14.02 | $56.6K | Form 4 |
| Aug 15, 2022 | 10% owner | Buy | 4,039 | $14.02 | $56.6K | Form 4 |
| Aug 11, 2022 | KNOTT PARTNERS LP10% owner | Buy | 11,179 | $12.91 | $144.3K | Form 4 |
| Aug 11, 2022 | 10% owner | Buy | 11,179 | $12.91 | $144.3K | Form 4 |
| Aug 9, 2022 | KNOTT PARTNERS LP10% owner | Buy | 8,147 | $11.32 | $92.2K | Form 4 |
| Aug 9, 2022 | 10% owner | Buy | 8,147 | $11.32 | $92.2K | Form 4 |
| Nov 26, 2021 | Minnich Michael W.See Remarks | Buy | 4,154 | $14.16 | $58.8K | Form 4 |
| Nov 24, 2021 | Minnich Michael W.See Remarks | Buy | 4,730 | $13.58 | $64.3K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- David M. Knott Jr.SC 13D/A, 3 filings May 20, 2022 to Dec 22, 202369
- Douglas K. BrattonSC 13D/A, 1 filing May 3, 202370
- Michael MinnichSC 13D/A, 1 filing May 3, 202371
- WELLINGTON TRUST Co N ASC 13G/A, 2 filings Feb 4, 2022 to Feb 6, 202372
- Wellington Management CompanySC 13G/A, 2 filings Feb 4, 2022 to Feb 6, 202373
- Wellington Trust Company, National Association Multiple Common Trust Funds Trust, Micro Cap Equity PortfolioSC 13G/A, 2 filings Feb 4, 2022 to Feb 6, 202374
- Anthony Michael SalemSC 13D/A, 1 filing Apr 12, 202275
- KNOTT PARTNERS LPSC 13G/A, 2 filings Dec 7, 2021 to Feb 11, 202276
SEC filer profile
How MIDWEST HOLDING INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARMIDWEST HOLDING INC.1
- CIK0000355379
- Employer ID (EIN)20-03624261
- Filer statusNon-accelerated filer<br>smaller reporting company1
- Incorporated inNebraska1
- Fiscal year endsDecember 311
- Industry code (SIC)6311 Life Insurance1
- SEC reviewing officeOffice of Finance, Division of Corporation Finance1
- Business address2900 South 70Th Street, Suite 400, Lincoln, NE 685061
- Phone402-489-82661
- Shares outstanding3,744,645 as of Nov 13, 202311
- Public float$44.4M as of Jun 30, 20223
- On EDGAR sinceNov 18, 20031
- Filings434 in all: 8-K (97), 4 (94), 3 (37), 10-Q (36), UPLOAD (19), CORRESP (14), 10-K (12), DEF 14A (12)1
All 47 form types
5 (11), SC 13D/A (10), DEFA14A (9), 10-12G/A (5), SC 13D (5), SC 13G/A (5), 10-Q/A (4), D (4), EFFECT (4), NT 10-Q (4), SC 13G (4), 424B3 (3), 8-K/A (3), NT 10-K (3), REGDEX (3), S-1/A (3), S-4 (3), S-4/A (3), S-8 (3), S-8 POS (3), 4/A (2), PRE 14A (2), 10-12G (1), 10-K/A (1), 15-12G (1), 25-NSE (1), 3/A (1), 424B4 (1), 8-A12B (1), ARS (1), CERT (1), CT ORDER (1), DEFM14A (1), FWP (1), PREM14A (1), PRER14A (1), REGDEX/A (1), S-1 (1), SC 14N (1)
- Latest filingsAnnual report (10-K) Mar 27, 2023
Quarterly report (10-Q) Nov 13, 2023
Proxy statement (DEF 14A) Apr 24, 2023
Latest 8-K (8-K) Dec 21, 2023
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- 16SEC EDGARMichael Minnich, Chair
- 17SEC EDGARRick D. Meyer, Chair
- 18SEC EDGARGeorgette C. Nicholas, President
- 19SEC EDGARMark A. Oliver, President
- 20SEC EDGARTravis Meyer, President
- 21
- 22
- 23SEC EDGARTodd Boeve, Chief operating officer
- 24SEC EDGARElliot Sperber, Officer
- 25SEC EDGARThomas Bumbolow, Officer
- 26
- 27SEC EDGAREoin Elliffe, Chief Risk Officer
- 28SEC EDGARSteven Oss, Chief Accounting Officer
- 29
- 30
- 31
- 32SEC EDGARTodd Boeve, Secretary
- 33SEC EDGARTravis Meyer, Vice chair
- 34
- 35SEC EDGARMark A. Oliver, Secretary/Treasurer
- 36SEC EDGARGeorgette C. Nicholas, Board member
- 37SEC EDGARYadin Rozov, Board member
- 38SEC EDGARDiane C. Davis, Board member
- 39SEC EDGARNancy Lyons Callahan, Board member
- 40SEC EDGARDouglas K. Bratton, Board member
- 41SEC EDGARSachin Goel, Board member
- 42SEC EDGARDana Stapleton, Board member
- 43SEC EDGARFirman Leung, Board member
- 44SEC EDGARJohn T. Hompe, Board member
- 45SEC EDGARKevin Feder, Board member
- 46SEC EDGARSteve C. Conner, Board member
- 47SEC EDGARDouglas R. Clark, Board member
- 48SEC EDGARJames M. Ballard, Board member
- 49SEC EDGARLes Meyer, Board member
- 50SEC EDGARMilton G. Tenopir, Board member
- 51SEC EDGARJack Theeler, Board member
- 52SEC EDGARStephen Alan Mace, General counsel
- 53
- 54SEC EDGARResults of operations
- 55SEC EDGARResults of operations
- 56SEC EDGARShareholder vote; Other events
- 57SEC EDGAROther events
- 58
- 59SEC EDGARResults of operations
- 60
- 61SEC EDGARResults of operations
- 62SEC EDGARNew debt or obligation
- 63SEC EDGARExecutive or director change
- 64
- 65
- 66
- 67
- 68
- 69
- 70
- 71
- 72
- 73
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- 76