---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-129164"
form_type: "8-K"
ticker: null
cik: "0000819913"
company_name: "HALLMARK FINANCIAL SERVICES INC"
filed_at: "2023-12-26T23:59:59+00:00"
generated_at: "2026-06-07T07:40:06.339317+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Hallmark Financial to voluntarily delist from Nasdaq on Jan 5, 2024 due to listing deficiencies

## Summary
- Failure to meet minimum MVPHS ($5M) and stockholders' equity ($10M) requirements; no viable remediation plan.
- Board approved delisting; last trading day on Nasdaq expected Jan 5, 2024.
- Company expects shares to be quoted on OTC Pink Markets but no guarantee of continued trading.
- Company intends to continue reporting under Securities Exchange Act.

## SEC filing metadata
- accession: 0001104659-23-129164
- form_type: 8-K
- cik: 0000819913
- company_name: HALLMARK FINANCIAL SERVICES INC
- filed_at: 2023-12-26T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 3.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/819913/000110465923129164/0001104659-23-129164-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/819913/000110465923129164/tm2333681d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-129164
- JSON: https://secwatch.observer/filing/0001104659-23-129164.json
- Plain text: https://secwatch.observer/filing/0001104659-23-129164.txt

## Key facts
- Listing & Compliance Notices
  HALLMARK FINANCIAL SERVICES INC received a nasdaq delisting notice notice regarding market value (rules 5450(b)(1)(c)).
  - Exchange: nasdaq
  - Notice: delisting notice
  - Deficiency: market value
  - Rules: 5450(b)(1)(c)
  source text: quirements for continued listing on the exchange and the lack of a viable plan to remediate both such deficiencies within their established grace periods. On September 28, 2023, Hallmark Financial Services, Inc. (the “ Company ”) was notified by Nasdaq Regulation that the Company no longer met Rule 5450(b)(1)(c), which requires listed companies on the Nasdaq Global Market to maintain a minimum “Market Value of Publicly Held Shares” (or “ MVPHS ”) of at least $5,000,000 in the last 30 consecutive business days. The Rules provide the Company a period of 180 calendar days to regain compliance wit
  evidence_url: https://www.sec.gov/Archives/edgar/data/819913/000110465923129164/0001104659-23-129164-index.htm
- Listing & Compliance Notices
  HALLMARK FINANCIAL SERVICES INC received a nasdaq deficiency notice notice regarding stockholders equity (rules 5450(b)(1)(A)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: stockholders equity
  - Rules: 5450(b)(1)(A)
  source text: d regain compliance with this Rule if the MVPHS of its common stock closes at $5,000,000 or above for at least 10 consecutive business days before the compliance period expires on March 26, 2024. On November 16, 2023, the Company was notified by Nasdaq Regulation that the Company no longer met Rule 5450(b)(1)(A), which requires companies listed on the Nasdaq Global Market to maintain a minimum of $10,000,000 in stockholders’ equity for continued listing. Under Nasdaq Rules, the Company has 45 calendar days, or until January 2, 2024, to submit a plan to regain compliance. (a “ Remediation Plan
  evidence_url: https://www.sec.gov/Archives/edgar/data/819913/000110465923129164/0001104659-23-129164-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.