Christianson Jon 4

What Happened

• Jon Christianson, President of Palomar Holdings (PLMR), had restricted stock units (RSUs) vest in late Jan 2026 and converted those derivatives into 4,109 common shares (exercise/conversion, code M). The company sold 1,673 of those shares in open-market transactions (code S) to cover required tax withholding, generating approximately $204,026 in proceeds (sales priced ~$121.75–$122.04 per share).
• This sequence is a routine vest-and-sell-to-cover: shares were acquired via RSU vesting at $0 exercise price and a portion immediately sold to satisfy statutory tax obligations rather than a voluntary market sell decision.

Key Details

• Transaction dates & prices:
  • 2026-01-29: Converted 1,327 and 1,787 RSU shares; sold 481 shares @ $122.04 ($58,703) and 677 shares @ $122.04 ($82,623).
  • 2026-01-31: Converted 995 RSU shares; sold 515 shares @ $121.75 ($62,700).
• Proceeds: reported total ≈ $204,026.
• Net retained from these vesting events: 4,109 acquired − 1,673 sold = 2,436 shares retained from these grants.
• Footnotes of interest:
  • F1: Sales were mandatory sell-to-cover by the company to satisfy minimum statutory tax withholding upon RSU vesting.
  • F2–F5: Provide details on other holdings and original RSU grant schedules (including ESPP shares and vesting schedules for 2023–2025 grants).
• Filing: Report filed 2026-02-02 for transactions occurring late Jan 2026. No late-filing flag noted.

Context

• Code M indicates conversion/exercise of derivative awards (here, RSUs vesting at $0 cost). The immediate open-market sales were a tax-withholding mechanism (commonly called a "sell-to-cover"), not necessarily a discretionary sale by the insider.
• For retail investors: purchases by insiders tend to be more informative about bullish sentiment; routine sell-to-cover transactions are common after vesting and should be interpreted accordingly.