Uchida T Christopher 4
4 · Palomar Holdings, Inc. · Filed May 20, 2026
Research Summary
AI-generated summary of this filing
Palomar (PLMR) CFO Uchida Sells Shares After RSU Vesting
What Happened
Palomar Holdings CFO T. Christopher Uchida had 1,530 restricted stock units (RSUs) convert to 1,530 shares on 2026-05-18 (reported as a derivative exercise/conversion). Of those shares, 783 were sold in the open market at $115.26 each for proceeds of $90,249. The conversion showed a $0.00 exercise price, consistent with RSU vesting rather than a paid option.
Key Details
- Transaction date: 2026-05-18; Form 4 filed 2026-05-20 (timely filing).
- Sale: 783 shares disposed at $115.26/share = $90,249.
- Conversion: 1,530 shares acquired via derivative conversion/exercise at $0.00 (RSU vesting).
- Shares owned after transaction: Not specified in the provided summary filing.
- Footnote F1: 783 shares were automatically sold by the company to cover required tax withholding (mandatory sell-to-cover).
- Footnote F2: The original RSU grant was 30,594 shares (11/18/2021); vesting schedule updated — includes quarterly vesting of 1,530 units after the third anniversary.
Context
This was not an out-of-pocket purchase but an RSU vesting event followed by a routine sell-to-cover for tax obligations. Such automatic sales are common for covering withholding and do not necessarily indicate managerial sentiment about the stock. The filing shows a conversion of RSUs into shares (derivative exercise) with a partial automatic sale rather than a discretionary open-market sale.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-05-18+1,530→ 16,282 total - Sale
Common Stock
[F1]2026-05-18$115.26/sh−783$90,249→ 15,499 total - Exercise/Conversion
Restricted Stock Units (RSUs)
[F2]2026-05-18−1,530→ 3,060 totalExercise: $0.00→ Common Stock (1,530 underlying)
Footnotes (2)
- [F1]Represents shares automatically sold by the Company on behalf of the Reporting Person pursuant to a mandatory sell-to-cover provision in the RSU award agreement required to cover minimum statutory tax withholding obligations that became due upon the RSU vesting event.
- [F2]The original RSU grant was for 30,594 shares on 11/18/2021. Subject to continuing service with the Company, the restricted stock units shall vest as follows: 6,118 units shall vest on the first year anniversary of the date of the grant; 6,118 units shall vest on the second year anniversary of the date of the grant; 6,118 units shall vest on the third year anniversary of the date of grant; and 1,530 units shall vest quarterly following the third anniversary date of the grant. These vesting terms reflect updates from the vesting terms stated on the original form 4, filed November 18, 2021, due to erroneous vesting terms being stated on the original form 4.