Carter Timothy 4

What Happened
Timothy Carter, Chief People Officer of Palomar Holdings (PLMR), had restricted/derivative awards convert to 1,312 shares (two conversions of 492 and 820 shares) on 2026-06-28 and sold a total of 480 shares in open-market transactions that same day (180 shares and 300 shares) at $124.29 each, bringing in $59,661. Some of the converted shares were also disposed of at $0 to satisfy tax withholding obligations.

Key Details

• Transaction date: 2026-06-28; Form filed 2026-06-30 (appears timely).
• Conversions/exercises (code M): +492 shares and +820 shares at $0.00 (total 1,312 shares converted/vested).
• Automatic derivative disposals (code M, $0): 492 and 820 shares — these reflect shares withheld/removed to cover taxes. (See F2.)
• Open-market sales (code S): 180 shares @ $124.29 = $22,373; 300 shares @ $124.29 = $37,288; combined proceeds = $59,661.
• Footnotes: F1 notes 163 shares were purchased under the company ESPP; F2 indicates mandatory sell-to-cover for RSU tax withholding; F3/F4 describe original RSU grants and multi-year vesting schedule (grants from 6/28/2024).
• Shares owned after the transactions: not specified in the provided filing details.

Context

• The M-code conversions at $0 typically reflect RSU vesting or a non-cash stock conversion rather than an option exercise requiring cash payment. The simultaneous $0 disposals indicate automatic sell-to-cover for tax withholding, while the separate S-code sales were open-market transactions generating cash proceeds.
• These transactions are routine for employees receiving RSUs and exercising/vesting shares; they are factual disclosures and do not by themselves indicate the insider’s view of the company.