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Palomar Holdings, Inc.·4

Jan 30, 6:14 PM ET

Knutzen Jonathan 4

Research Summary

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Updated

Palomar (PLMR) CRO Jonathan Knutzen Exercises Options, Sells Shares

What Happened
Jonathan Knutzen, Chief Risk Officer of Palomar Holdings (PLMR), had multiple equity transactions on January 28, 2026. He converted/exercised a derivative for 4,779 shares (acquired at $0), received a new grant of 5,897 restricted stock units (RSUs) (grant value reported as $0), and disposed of 1,535 shares in a sale at $119.88 per share for proceeds of $184,016. The sale appears related to tax withholding from a vesting/settlement event rather than a discretionary open-market trade.

Key Details

  • Transaction date: 2026-01-28 (filed 2026-01-30) — filing appears timely (within two business days).
  • Sale: 1,535 shares at $119.88 each, total $184,016. (Code S)
  • Conversion/Exercise: 4,779 shares acquired via derivative conversion/exercise at $0. (Code M)
  • Grant: 5,897 RSUs granted (reported as $0) on 1/28/2026; vesting schedule: 1/3 each year over three years. (Code A)
  • Shares owned after the transactions: not specified in the provided excerpt of the filing.
  • Notable footnotes included in the filing:
    • F1: 1,386 shares purchased under the 2019 Employee Stock Purchase Plan (ESPP).
    • F2–F3: Compensation Committee ratified that certain performance stock units (PSUs) vested based on financial performance and service through 1/1/2026; F3 explains the PSU award grant date was 1/31/2023.
    • F4: Some shares were automatically sold by the company to satisfy mandatory sell-to-cover tax withholding obligations upon PSU vesting.
    • F5: The RSU grant (5,897 shares) vests in three equal installments over the next three years, subject to continued service.

Context

  • The filing shows a mix of events: PSUs/derivative conversion (vesting/settlement) and a contemporaneous RSU grant. The 1,535-share sale is described in the filing as a mandatory sell-to-cover for withholding taxes tied to the vesting/settlement—this is a common administrative action and not necessarily a signal of personal trading intent.
  • For derivative/PSU events: the filing indicates shares were issued/converted from awards rather than purchased on the open market. New RSUs have multi-year time-based vesting, so they are subject to continued employment.