Uchida T Christopher 4

What Happened

• T. Christopher Uchida, Chief Financial Officer of Palomar Holdings (PLMR), had 1,530 restricted stock units (RSUs convert/derivatives) vest on 2026-02-18. The RSUs converted to common shares at $0.00 (no cash exercise). To satisfy mandatory tax withholding, 783 of those shares were sold in an open-market sell-to-cover transaction at $128.04 per share, generating $100,255. The remaining vested shares were issued to Uchida.

Key Details

• Transaction date: 2026-02-18 (Form 4 filed 2026-02-20; filing appears timely)
• Shares acquired via derivative conversion: 1,530 shares at $0.00
• Shares sold (open market/sell-to-cover): 783 shares at $128.04, proceeds $100,255
• Additional derivative entry: 1,530 shares disposed at $0.00 reflecting the RSU conversion/cancellation per the filing
• Shares owned after the transaction: not disclosed in this filing
• Footnotes: F1 — the 783-share sale was an automatic mandatory sell-to-cover to satisfy minimum statutory tax withholding; F2 — original RSU grant was 30,594 shares (11/18/2021) with updated vesting schedule, including quarterly vesting of 1,530 units after the third anniversary.

Context

• This was a routine RSU vesting and automatic sell-to-cover for taxes (not an open-market discretionary sale by the insider). The derivative entries reflect RSUs converting to common stock; a portion was sold immediately to cover withholding. Such transactions generally reflect compensation vesting rather than a traded-based investment decision.