Robert M. Mauldin III - Jan 29, 2023 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: Jan 29, 2023
Transactions value $: -$9,423
Form type: 4
Date filed: 1/31/2023, 04:07 PM
Previous filing: Apr 19, 2022
Next filing: Apr 4, 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		+11.3K	+17.84%		74.9K	Jan 29, 2023	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Tax liability	-$9.42K	-3.91K	-5.22%	$2.41	71K	Jan 29, 2023	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	-11.3K	-50%	$0.00	11.3K	Jan 29, 2023	Class A Common Stock	11.3K		Direct	F1, F2
holding	CIA	Restricted Stock Units						18.6K	Jan 29, 2023	Class A Common Stock	18.6K		Direct	F1, F3

* 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	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).
F3	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).