Grant Angela L. 4

What Happened
Angela L. Grant, Chief Legal Officer of Palomar Holdings (PLMR), had multiple equity events on 2026-01-28. She converted 3,827 vested performance stock units (PSUs) into common shares (no cash paid). The company sold 1,447 of those shares on her behalf at $119.88 each (total $173,466) to cover tax withholding. Separately, she received a new grant of 3,581 restricted stock units (RSUs) that vest over three years.

Key Details

• Transaction date: 2026-01-28; Form 4 filed 2026-01-30 (appears timely).
• Converted/Acquired: 3,827 shares from vested PSUs (derivative conversion) at $0.00.
• Sold (open market, automatic sell-to-cover): 1,447 shares @ $119.88 = $173,466 (to satisfy minimum statutory tax withholding).
• New grant: 3,581 RSUs (grant date 1/28/2026); no cash exchanged. Vesting: 1/3 each year for three years.
• Net shares retained from the PSU vesting: 3,827 − 1,447 = 2,380 shares (held after the automatic sell-to-cover).
• Footnotes: F1–F3 explain Committee ratification of PSU performance, PSU grant date (1/31/2023) and vesting conditions, and mandatory sell‑to‑cover for taxes. F4 details the RSU vesting schedule.
• Shares owned after transaction: not specified in the provided excerpt.

Context

• The 3,827 "M" transaction reflects conversion/vesting of PSUs rather than an option cash exercise; the immediate sale of 1,447 shares was an automatic, company‑facilitated sell‑to‑cover to satisfy withholding—common and not necessarily a discretionary insider sale.
• The new 3,581 RSUs are time‑based and will vest over three years, which is a retention-style award rather than an immediate purchase signal.
• For retail investors, purchases or voluntary sales by insiders can be informative; mandatory sell-to-cover transactions are routine tax-related events.