Carter Timothy 4

What Happened

• Timothy Carter, Chief People Officer of Palomar Holdings (PLMR), had 610 restricted stock units (RSUs) convert to common shares on 2026-01-29 (recorded as an exercise/conversion of a derivative at $0.00). On the same day, 254 shares were sold in an open-market sale at $122.04 each, generating $30,999. The sale was a disposition reported on the Form 4.
• The filing also lists a prior derivative entry dated 2025-01-29 for 610 shares (related to the RSU activity).

Key Details

• Transaction dates and prices:
  • 2026-01-29: 610 shares acquired via exercise/conversion of derivative (RSU vest) at $0.00.
  • 2026-01-29: 254 shares sold (open market) at $122.04 per share, total proceeds $30,999.
  • 2025-01-29: 610-share derivative transaction also reported (disposition).
• Shares owned after the transaction: not specified in the provided data.
• Notable footnotes:
  • F1 — The 254 shares sold were automatically sold by the company to cover minimum statutory tax withholding upon the RSU vesting (mandatory sell-to-cover).
  • F2 — Holdings include 105 shares purchased under Palomar’s 2019 ESPP.
  • F3 — The original RSU grant was 1,829 shares on 1/29/2025, vesting in three equal annual installments (≈610 shares each year).
• Filing timeliness: Form filed 2026-02-02 for the 2026-01-29 transaction — filed within the typical two business-day Form 4 reporting window.

Context

• This was not an open-market purchase but an RSU vesting event with an automatic sell-to-cover for taxes. Such mandatory withholding sales are routine and do not necessarily signal insider sentiment about the company’s prospects.
• For derivative entries: “exercise/conversion of derivative” here refers to RSUs converting into common shares at no purchase price; a portion was sold immediately to satisfy tax obligations.