Uchida T Christopher 4

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.