Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Maheshwari Raj
   2. Issuer Name and Ticker or Trading Symbol
SIGNATURE GROUP HOLDINGS, INC. [SGRH] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
C/O SIGNATURE GROUP HOLDINGS, INC., 15301 VENTURA BLVD, SUITE 400		 3. Date of Earliest Transaction (Month/Day/Year)
02/27/2015
(Street)

SHERMAN OAKS, CA 91403		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
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 02/27/2015   M   12,457 A $ 5.64 34,619 D  
Common Stock 02/27/2015   X   64,479 A $ 5.64 179,309 I By Charlestown Capital Advisors LLC (1)
Common Stock 02/27/2015   X   9,643 A $ 5.64 34,059 (2) I Family custodial accounts and trusts

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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 Underlying Securities
(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 of Derivative Security: 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
Subscription Rights (right to buy) $ 5.64 02/27/2015   M     22,162 01/28/2015 02/20/2015 Common Stock 12,457 $ 0 0 D  
Subscription Rights (right to buy) $ 5.64 02/27/2015   X     114,730 01/28/2015 02/20/2015 Common Stock 64,479 $ 0 0 I By Charlestown Capital Advisors LLC (1)
Subscription Rights (right to buy) $ 5.64 02/27/2015   X     17,156 01/28/2015 02/20/2015 Common Stock 9,643 $ 0 0 I Family custodial accounts and trusts

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Maheshwari Raj
C/O SIGNATURE GROUP HOLDINGS, INC.
15301 VENTURA BLVD, SUITE 400
SHERMAN OAKS, CA 91403		   X      

Signatures

 /s/ Raj Maheshwari   03/03/2015
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Mr. Maheshwari is the managing director of Charlestown Capital Advisors, LLC.
(2) Includes additional 11 shares not reported previously due to administrative error.
 
Remarks:
As previously reported by the Issuer, each subscription right issued in its rights offering entitled the holder to purchase 0.562 shares of its common stock at an exercise price of $5.64 per share.  The issuance of shares in the rights offering was contingent on the Issuer closing its acquisition of the global recycling and specification alloys (GRSA) business from Aleris Corporation, which occurred on February 27, 2015.

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