Robert M. Mauldin III - Apr 15, 2022 Form 4 Insider Report for CITIZENS, INC. (CIA)

Role: VP, Chief Marketing Officer
Signature: /s/Robert M. Mauldin III
Stock symbol: CIA
Transactions as of: Apr 15, 2022
Transactions value $: -$29,662
Form type: 4
Date filed: 4/19/2022, 03:50 PM
Previous filing: Apr 4, 2022
Next filing: Jan 31, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CIA	Citizens, Inc. Class A Common Stock	Options Exercise		+23.6K	+50.48%		70.5K	Apr 15, 2022	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Tax liability	-$29.7K	-6.96K	-9.88%	$4.26	63.5K	Apr 15, 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	-23.6K	-100%	$0.00^*	0	Apr 15, 2022	Class A Common Stock	23.6K		Direct	F1, F2
holding	CIA	Restricted Stock Units						22.7K	Apr 15, 2022	Class A Common Stock	22.7K		Direct	F1, F3
holding	CIA	Restricted Stock Units						18.6K	Apr 15, 2022	Class A Common Stock	18.6K		Direct	F1, F4

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

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents a contingent right to receive one share of Citizens, Inc. Class A common stock.
F2	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).
F3	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.
F4	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).