Robert M. Mauldin III - Mar 31, 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: Mar 31, 2023
Transactions value $: -$6,704
Form type: 4
Date filed: 4/4/2023, 05:40 PM
Previous filing: Jan 31, 2023
Next filing: Jan 31, 2024

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	$0	+6.19K	+8.72%	$0.00	77.1K	Mar 31, 2023	Direct
transaction	CIA	Citizens, Inc. Class A Common Stock	Tax liability	-$6.7K	-1.81K	-2.34%	$3.71	75.3K	Mar 31, 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	-6.19K	-33.33%	$0.00	12.4K	Mar 31, 2023	Class A Common Stock	6.19K		Direct	F1, F2
transaction	CIA	Restricted Stock Units	Award	$0	+38K		$0.00	38K	Mar 31, 2023	Class A Common Stock	38K		Direct	F1, F4
holding	CIA	Restricted Stock Units						11.3K	Mar 31, 2023	Class A Common Stock	11.3K		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 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).
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).
F4	On March 31, 2023, 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, 2024) and the second anniversary of the date of the grant (March 31, 2025) and the third anniversary of the date of the grant (March 31, 2026).