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
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Alimco Financial Corp		 2. Issuer Name and Ticker or Trading Symbol

Kaspien Holdings Inc. [ KSPN ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                    __X__ 10% Owner
_____ Officer (give title below)    __X__ Other (specify below)
Member of 10% owner group
(Last)          (First)          (Middle)

2336 SE OCEAN BLVD, SUITE 400		 3. Date of Earliest Transaction (MM/DD/YYYY)

2/11/2021
(Street)

STUART, FL 34996
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
 6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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 2/11/2021  M  127208 A (1)152893 I By Alimco Re Ltd. 
Common Stock 2/11/2021  F(2)  39 D (1)(2)152854 I By Alimco Re Ltd. 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)		2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Warrant for Common Stock $0.01 (1)2/11/2021  M     1  3/30/2020 3/31/2025 Common Stock 127208  (3)0 I By Alimco Re Ltd. 
Warrant for Common Stock $0.01 (4)3/2/2022  P   1    3/2/2022 3/2/2027 Common Stock 320000 (4)(5)(6) (6)1 I By Alimco Re Ltd. 
Explanation of Responses:
(1) The reported transaction involved the conversion by Alimco Re Ltd. of a warrant to purchase a total of 127,208 shares of Kaspien Holdings Inc. common stock at a price equal to $0.01 per share (the "2020 Warrant"). Alimco Re Ltd. is a wholly owned subsidiary of Alimco Financial Corporation ("Alimco"). Alimco may be deemed to have voting and dispositive control over shares held by Alimco Re Ltd. Alimco disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein.
(2) The 2020 Warrant was exercised on a cashless basis.
(3) Alimco Re Ltd. acquired the 2020 Warrant in connection with a $2,718,000 secured term loan made on March 30, 2020 by Alimco Re Ltd. to Etailz Inc., a wholly owned subsidiary of Kaspien Holdings Inc.
(4) The reported transaction involved the acquisition by Alimco Re Ltd. of a warrant to purchase a total of 320,000 shares of Kaspien Holdings Inc. common stock at a price equal to $0.01 per share (the "2022 Warrant").
(5) Alimco disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein. This filing shall not be deemed an admission that Alimco is, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of any equity securities covered by this filing.
(6) Alimco Re Ltd. acquired the 2022 Warrant in connection with a $5,000,000 secured term loan made on March 2, 2022 by Alimco Re Ltd. to Kaspien Inc., a subsidiary of Kaspien Holdings Inc.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Alimco Financial Corp
2336 SE OCEAN BLVD
SUITE 400
STUART, FL 34996
X
Member of 10% owner group
Signatures
/s/ Jonathan Marcus, Chief Executive Officer3/7/2022
**Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*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).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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