KINNARD INVESTMENTS INC
8-K, 1999-12-10
SECURITY BROKERS, DEALERS & FLOTATION COMPANIES
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<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549




                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported): December 8, 1999



                            KINNARD INVESTMENTS, INC.
             (Exact name of registrant as specified in its charter)


           MINNESOTA                     0-9377                41-0972952
(State or other jurisdiction of       (Commission             (IRS Employer
incorporation or organization)         File No.)            Identification No.)


                             920 Second Avenue South
                          Minneapolis, Minnesota 55402
                    (Address of principal executive offices)

                                 (612) 370-2700
              (Registrant's telephone number, including area code)


<PAGE>

Items 1-4.        Not Applicable.

Item 5.           OTHER EVENTS.

         Information contained in a Press Release dated December 8, 1999 is
incorporated herein by reference to Exhibit 99.1 attached hereto.


Item 6.           Not Applicable.

Item 7.           FINANCIAL STATEMENTS AND EXHIBITS.

(a)-(b)           Not Applicable.

(c)               Exhibits

                  99.1       Press Release, dated December 8, 1999

Item 8.           Not Applicable


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<PAGE>

                                   Signatures

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                       KINNARD INVESTMENTS, INC.



Dated:  December 10, 1999              By:    /s/ George F. Stroebel
                                          --------------------------------------
                                          George F. Stroebel
                                          Senior Vice President of Corporate
                                          Development and Corporate Secretary


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<PAGE>

                                  EXHIBIT INDEX


Exhibit      Description                                Method of Filing
- -------      -----------                                ----------------
   99.1      Press Release, dated December 8, 1999      Electronic Transmission


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<PAGE>

                                                                    EXHIBIT 99.1



                       KINNARD SPECIAL COMMITTEE TO REVIEW
                   UNSOLICITED TENDER OFFER FROM STOCKWALK.COM


MINNEAPOLIS, December 8/PR Newswire/ -- Kinnard Investments, Inc. (NASDAQ:KINN)
today urged all of its shareholders to take no action with respect to the
unsolicited tender offer announced by Stockwalk.com Group, Inc. to acquire all
of Kinnard's outstanding common stock for $7.50 per share until the special
committee of its board of directors has reviewed the unsolicited offer and made
its recommendation to shareholders.

Kinnard also announced that the special committee of the board will make its
recommendation to shareholders within 10 business days of Stockwalk.com's filing
of tender offer documents with the Securities and Exchange Commission.

The special committee of the board has retained U.S. Bancorp Piper Jaffray as
its financial adviser and Kaplan, Strangis and Kaplan, P.A. as its legal
counsel.

Kinnard investments, Inc. is a Minneapolis-based financial services holding
company engaged in securities brokerage, investment banking, fixed income
products, asset management and related financial services.


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