Stenberg Jon 4

What Happened

• Jon Stenberg, President & CEO and a director of Citizens, Inc. (CIA), converted 45,249 restricted stock units (RSUs) into Class A common shares on March 18, 2026. As part of the transaction, 11,944 shares were withheld to satisfy tax withholding obligations at $4.63 per share (total withholding value $55,301), leaving a net issuance of 33,305 shares to Stenberg.
• The Form 4 shows derivative conversion/exercise activity (code M) for the RSUs and a tax-withholding disposition (code F). One reporting line lists the derivative conversion at a $0.00 exercise price, which is typical for RSUs (they convert to shares without an exercise payment).

Key Details

• Transaction date: March 18, 2026. Filing date: March 20, 2026 (appears timely).
• Gross shares converted: 45,249 RSUs → 45,249 shares.
• Shares withheld for taxes: 11,944 shares at $4.63 each = $55,301.
• Net shares received by insider: 33,305 shares (45,249 − 11,944).
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Relevant footnotes: F1–F4 confirm these were RSUs (each RSU = right to one share) and describe grant and vesting schedules (grants from March 2024 and March 2025 with three-year vesting schedules).
• Transaction codes: M = exercise/conversion of derivative (RSU conversion); F = payment of exercise price or tax liability (share withholding).

Context

• This appears to be a standard RSU vest/settlement event, not an open-market buy or sale. RSU conversions commonly show a $0 exercise price because no cash option exercise is required; shares are simply issued and a portion withheld for taxes (a cashless or share-withholding settlement).
• Such routine RSU settlements are common for executives and do not, by themselves, indicate a bullish or bearish signal about the company.