Christianson Jon 4

What Happened Jon Christianson, President of Palomar Holdings (PLMR), had 5,345 shares convert/vest from previously granted performance stock units (PSUs) on 2026-01-28 and immediately realized proceeds by selling 1,991 of those shares in the open market for $119.88 each (total $238,681). On the same date he was also granted 7,912 restricted stock units (RSUs) (no cash cost), subject to future vesting. The small open-market sale was an automatic sell-to-cover to satisfy tax withholding obligations, rather than an opportunistic discretionary sale.

Key Details

• Transaction date: 2026-01-28 (Form 4 filed 2026-01-30; appears timely).
• PSU vest/conversion: 5,345 shares acquired at $0.00 (footnotes F2–F3).
• Sell-to-cover: 1,991 shares sold @ $119.88 for $238,681 to cover tax withholding (footnote F4).
• New grant: 7,912 RSUs granted @ $0.00 on 1/28/2026 (footnote F5); vesting schedule: 1/3 each year over 3 years.
• ESPP note: filing includes 2,410 shares purchased under the company ESPP (footnote F1).
• Shares owned after the transactions: not specified in the provided summary — see the full Form 4 for total post-transaction holdings.

Context

• The M-code (exercise/conversion) reflects conversion/vesting of derivative awards (PSUs) rather than a cash purchase; the $0.00 acquisition price indicates the shares were awarded upon vesting.
• The sale was a routine, automatic sell-to-cover to meet tax obligations (not necessarily a bearish signal).
• The RSU grant is time-based and vests over three years (one-third each year), so those shares are subject to future service-based vesting.