X0306 4 2019-04-05 0 0001029730 LADENBURG THALMANN FINANCIAL SERVICES INC. LTS 0001766109 Liebowitz Michael 4400 BISCAYNE BOULEVARD SUITE 818 MIAMI FL 33137 1 0 0 0 Common Stock 2019-04-05 4 P 0 10000 2.92 A 183496 D The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.90 to $2.94, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote (1) to this Form 4. /s/ Michael Liebowitz 2019-04-08