Robert M. Mauldin III - 31 Mar 2023 Form 4 Insider Report for CITIZENS, INC. (CIA)

Role: VP, Chief Marketing Officer
Signature: /s/Robert M. Mauldin III
Issuer symbol: CIA
Transactions as of: 31 Mar 2023
Net transactions value: -$6,704
Form type: 4
Filing time: 04 Apr 2023, 17:40:41 UTC
Previous filing: 31 Jan 2023
Next filing: 31 Jan 2024
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	Options Exercise	$0	+6,187	+8.7%	$0.000000	77,146	31 Mar 2023	Direct
transaction	CIA	Citizens, Inc. Class A Common Stock	Tax liability	$6,704	-1,807	-2.3%	$3.71	75,339	31 Mar 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	-6,187	-33%	$0.000000	12,374	31 Mar 2023	Class A Common Stock	6,187		Direct	F1, F2
transaction	CIA	Restricted Stock Units	Award	$0	+38,005		$0.000000	38,005	31 Mar 2023	Class A Common Stock	38,005		Direct	F1, F4
holding	CIA	Restricted Stock Units						11,331	31 Mar 2023	Class A Common Stock	11,331		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).