Jeffery P. Conklin - 01 Apr 2022 Form 4 Insider Report for CITIZENS, INC. (CIA)

Role: VP, CFO & Treasurer
Signature: /s/Jeffery P. Conklin
Issuer symbol: CIA
Transactions as of: 01 Apr 2022
Net transactions value: -$29,313
Form type: 4
Filing time: 19 Apr 2022, 15:46:45 UTC
Previous filing: 04 Apr 2022
Next filing: 21 Nov 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CIA	Citizens, Inc. Class A Common Stock	Small acquisition under Rule 16a-6	$826	+190	+0.34%	$4.36	56,130	01 Apr 2022	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Options Exercise		+29,054	+52%		85,184	15 Apr 2022	Direct	F2
transaction	CIA	Citizens, Inc. Class A Common Stock	Tax liability	$30,140	-7,075	-8.3%	$4.26	78,109	15 Apr 2022	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CIA	Restricted Stock Units	Options Exercise	$0	-29,054	-100%	$0.000000^*	0	15 Apr 2022	Class A Common Stock	29,054		Direct	F2, F3
holding	CIA	Restricted Stock Units						23,632	01 Apr 2022	Class A Common Stock	23,632		Direct	F2, F4
holding	CIA	Citizens, Inc. Class A Common Stock						23,539	01 Apr 2022	Citizens, Inc. Class A Common Stock	23,539		Direct	F2, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These shares were purchased through the Citizens, Inc. Stock Investment Plan as part of regular monthly payroll deduction.
F2	Each restricted stock unit represents a contingent right to receive one share of Citizens, Inc. Class A common stock.
F3	Vesting is 1/2 on the first anniversary of the date of the grant (April 15, 2021), 1/2 on the second anniversary of the date of the grant (April 15, 2022).
F4	On January 29, 2021, the reporting person was granted an award of restricted stock units, vesting in three equal annual installments on the first anniversary of the date of the grant (January 29, 2022) and the second anniversary of the date of the grant (January 29, 2023) and the third anniversary of the date of the grant (January 29, 2024). The amount shown in the table above reflects the unvested amounts.
F5	On March 31, 2022, the reporting person was granted an award of restricted stock units, vesting in three equal annual installments on the first anniversary of the date of the grant (March 31, 2023) and the second anniversary of the date of the grant (March 31, 2024) and the third anniversary of the date of the grant (March 31, 2025).