L. Kinlaw - Apr 8, 2022 Form 4 Insider Report for CITIZENS, INC. (CIA)

Role: Chief Legal Officer
Signature: /s/ Sheryl Kinlaw, Chief Legal Officer
Stock symbol: CIA
Transactions as of: Apr 8, 2022
Transactions value $: -$6,580
Form type: 4
Date filed: 7/5/2022, 01:09 PM
Previous filing: Apr 4, 2022
Next filing: Feb 9, 2023

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	$496	+115	+9.91%	$4.30	1.28K	Apr 8, 2022	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Small acquisition under Rule 16a-6	$495	+199	+15.53%	$2.49	1.48K	May 6, 2022	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Small acquisition under Rule 16a-6	$494	+128	+8.67%	$3.85	1.61K	Jun 10, 2022	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Options Exercise		+8K	+497.93%		9.61K	Jul 1, 2022	Direct	F2
transaction	CIA	Citizens, Inc. Class A Common Stock	Tax liability	-$8.06K	-1.95K	-20.28%	$4.14	7.66K	Jul 1, 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	-8K	-33.33%	$0.00	16K	Jul 1, 2022	Class A Common Stock	8K		Direct	F2, F3
holding	CIA	Restricted Stock Units						9.51K	Apr 8, 2022	Class A Common Stock	9.51K		Direct	F2, F4

* 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 1/3 on the first anniversary of the date of the grant (July 1, 2022), 1/3 on the second anniversary of the grant (July 1, 2023) and 1/3 on the third anniversary of the grant (July 1, 2024).
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).