Knutzen Jonathan 4/A
Research Summary
AI-generated summary
Palomar (PLMR) CRO Jonathan Knutzen Sells Shares After RSU Vest
What Happened
Jonathan Knutzen, Chief Risk Officer of Palomar Holdings (PLMR), had restricted stock units vest on 2026-01-29 and converted/received a total of 2,664 shares (1,230 + 1,434) at $0 per share. To cover tax withholding, 1,230 shares were automatically sold (sell-to-cover). In addition, 381 shares were sold in an open-market transaction at $122.04 per share for proceeds of $46,498. The filings were amended to correct the transaction date.
Key Details
- Transaction date: 2026-01-29 (amended filing submitted 2026-02-04 to correct date originally reported on 2026-02-02).
- Derivative conversions (code M): 1,230 shares acquired at $0.00 and 1,230 shares disposed (sell-to-cover); 1,434 shares disposed at $0.00 — these reflect RSU vesting/conversion.
- Open-market sale (code S): 381 shares sold at $122.04 for $46,498.
- Footnotes: F1 = mandatory sell-to-cover to satisfy statutory tax withholding; F3/F4 = these amounts represent one-third vesting portions from RSU grants dated 1/29/2024 (3,692 shares) and 1/29/2025 (4,302 shares). F2 notes 1,386 shares were purchased under the company ESPP (disclosed in the filing). F5 = this is an amended filing correcting a clerical error in the original filing.
- Shares owned after the transactions: not specified in the provided filing excerpt.
Context
The M-code transactions reflect RSU vesting/conversion (no cash exercise price) with an automatic sell-to-cover for taxes plus an additional open-market sale. These are routine administrative transactions tied to compensation vesting rather than an outright, discretionary buy signal; purchases (when present) tend to be more informative about insider confidence. The amended Form 4 corrected the transaction date in an earlier timely filing.