Sec Form 4 Filing - CORRELL JESSE T @ UTG INC - 2021-12-31

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 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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1. Name and Address of Reporting Person CORRELL JESSE T 2. Issuer Name and Ticker or Trading Symbol UTG INC [ UTGN] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chairman & CEO (Last) (First) (Middle) FIRST SOUTHERN BANCORP, P. O. BOX 328 3. Date of Earliest Transaction (MM/DD/YY) 12/31/2021 (Street) STANFORD, KY40484 4. If Amendment, Date Original Filed (MM/DD/YY) 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 (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 07/21/2021 G V 19 D $ 0 54,803 D Common Stock 400,000 I By First Southern Funding, LLC( 1 ) Common Stock 72,750 I By WCorrell, Limited Partnership( 2 ) Common Stock 07/21/2021 G V 1,039 D $ 0( 4 ) 204,909 I By First Southern Bancorp, Inc.( 3 )( 4 ) Common Stock 12/31/2021 S 701 D $ 0( 5 ) 204,909 I By First Southern Bancorp, Inc.( 3 )( 5 ) Common Stock 1,201,876 I By First Southern Holdings, LLC( 6 )

3. Transaction Date (MM/DD/YY) 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 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 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

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other CORRELL JESSE T FIRST SOUTHERN BANCORP P. O. BOX 328 STANFORD, KY40484 X X Chairman & CEO Signatures /s/ Jill Martin, Attorney-in-Fact 01/04/2022 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The reporting person is President and Manager of First Southern Funding, LLC. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. ( 2 )The reporting person is the managing general partner of WCorrell, Limited Partnership. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. ( 3 )The reporting person is Chairman and President of First Southern Bancorp, Inc. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. ( 4 )This transaction is being reported to reflect a gift of First Southern Bancorp, Inc. shares by the reporting person. On July 21, 2021 the reporting person gifted 14,881 shares (0.51% of those outstanding) of First Southern Bancorp, Inc. The shares of UTG, Inc. reported as gifted represent 0.51% of the UTG shares owned by First Southern Bancorp, Inc. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. ( 5 )This transaction is being reported to reflect sales of First Southern Bancorp, Inc. shares by the reporting person. On December 31, 2021 the reporting person sold 24,670 shares (0.84% of those outstanding) at a price of $68.91 per First Southern Bancorp, Inc. share, decreasing his percentage ownership of First Southern Bancorp, Inc. by 0.34%. The shares of UTG, Inc. reported as sold represent 0.34% of the UTG shares owned by First Southern Bancorp, Inc. No separate price was stated for those shares. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. ( 6 )The reporting person is the President and First Southern Bancorp, Inc. is a 99% member of First Southern Holdings, LLC. See note (3). The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

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).

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