Edgar Filing: Noell Craig Forrest

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 ^*

Noell Craig Forrest

2. Issuer Name and Ticker or Trading Symbol
SIGNATURE GROUP HOLDINGS INC [SGGH.PK]

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)

15303 VENTURA BLVD., SUITE 1510

3. Date of Earliest Transaction (Month/Day/Year)
07/02/2010

(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	06/11/2010	06/11/2010	P		1,250,000	A	$ 0.8	1,250,000	I	IRA

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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

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Warrants

$ 1.03

06/11/2010

1,100,000 ⁽¹⁾

06/11/2010

06/11/2020

Signature Group holdings, Inc. - Common Shares

1,100,000 ⁽¹⁾

$ 0.02

5,500,000 ⁽¹⁾

Signature Group Holdings, LLC

Warrants

$ 1.03

06/11/2010

1,100,000 ⁽¹⁾

06/11/2011

06/11/2020

Signature Group Holdings, Inc. - Common Shares

1,100,000 ⁽¹⁾

$ 0.02

5,500,000 ⁽¹⁾

Signature Group Holdings, LLC

Warrants

$ 1.03

06/11/2010

1,100,000 ⁽¹⁾

06/11/2012

06/11/2020

Signature Group Holdings, Inc. - Common Shares

1,100,000 ⁽¹⁾

$ 0.02

5,500,000 ⁽¹⁾

Signature Group Holdings, LLC

Warrants

$ 1.03

06/11/2010

1,100,000 ⁽¹⁾

06/11/2013

06/11/2020

Signature Group Holdings, Inc. - Common Shares

1,100,000 ⁽¹⁾

$ 0.02

5,500,000 ⁽¹⁾

Signature Group Holdings, Inc.

Warrants

$ 1.03

06/11/2010

1,100,000 ⁽¹⁾

06/11/2014

06/11/2020

Signature Group Holdings, Inc. - Common Shares

1,100,000 ⁽¹⁾

$ 0.02

5,500,000 ⁽¹⁾

Signature Group Holdings, Inc.

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Noell Craig Forrest 15303 VENTURA BLVD. SUITE 1510 SHERMAN OAKS, CA 91403	X

Signatures

/s/ Craig Forrest Noell		07/02/2010
^**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)	On June 11, 2010, Signature Group Holdings, LLC acquired 8,800,000 Warrants for $.02 per warrant share to purchase common shares in Signature Group Holdings, Inc. (SGGH.PK) at $1.03 per share. The Warrants vest as to shares of the underlying common stock as follows: 20% on the Effective Date June 11, 2010, and 20% each year in annual installments thereafter until the Warrants are fully vested on the fourth anniversary of the Effective Date. The amounts disclosed represent Mr. Noell's 62.5% benefical ownership share of Signature Group Holdings, LLC.

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