DAVIS CYNTHIA H 4

What Happened

• Cynthia H. Davis, a director of Citizens, Inc. (CIA), had multiple insider transactions: she converted 12,012 restricted stock units (RSUs) into shares on June 17, 2026, made two small payroll purchases in May, and received a new RSU grant on June 17, 2026. The payroll purchases were 54.421 shares at $5.48 ($298) on May 5, 2026, and 57.013 shares at $5.23 ($298) on May 29, 2026. The 12,012‑share conversion from RSUs involved no cash consideration; a separate grant of 7,042 RSUs was reported the same day.

Key Details

• Transaction dates and prices:
  • 2026-05-05: Acquired 54.421 shares @ $5.48 (~$298) via payroll purchase (Stock Investment Plan). (F1)
  • 2026-05-29: Acquired 57.013 shares @ $5.23 (~$298) via payroll purchase. (F1)
  • 2026-06-17: Converted/exercised 12,012 RSUs into 12,012 shares (no cash paid; listed as derivative conversion). (F2, F3)
  • 2026-06-17: Granted 7,042 RSUs (no immediate cash; vests 6/17/2027). (F4)
• Shares owned after these transactions: not specified in the provided filing extract.
• Notable footnotes:
  • F1: Payroll purchases through the Citizens Stock Investment Plan (regular monthly payroll deductions).
  • F2: Each RSU represents a contingent right to one share of Class A common stock.
  • F3: The 12,012 RSUs were originally granted on 6/17/2025 and vested on 6/17/2026 (converted to shares).
  • F4: The 7,042 RSUs granted on 6/17/2026 vest on 6/17/2027.
• Filing timeliness: Form 4 was filed on 2026-06-22 while some transactions occurred as early as 2026-05-05 and 2026-05-29; the filing date is more than a few weeks after those purchases (may indicate a delayed filing for earlier trades).

Context

• The 12,012‑share activity reflects RSU vesting/conversion (typical compensation event) rather than an open‑market purchase or sale; no proceeds were received as part of the conversion. The new 7,042 RSU grant is a future‑vesting compensation award and does not reflect an immediate purchase or sale. The small payroll purchases are routine contributions under the company’s stock purchase plan. There were no open‑market sales reported in this filing.