Sheryl L. Kinlaw - 06 Jan 2023 Form 4 Insider Report for CITIZENS, INC. (CIA)

Role: Chief Legal Officer
Signature: /s/ Sheryl Kinlaw, Chief Legal Officer
Issuer symbol: CIA
Transactions as of: 06 Jan 2023
Net transactions value: -$1,390
Form type: 4
Filing time: 04 Apr 2023, 17:45:28 UTC
Previous filing: 09 Feb 2023
Next filing: 05 Jul 2023
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	Small acquisition under Rule 16a-6	$492	+220	+2.6%	$2.24	8,793	06 Jan 2023	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Small acquisition under Rule 16a-6	$492	+197	+2.2%	$2.50	8,990	10 Feb 2023	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Small acquisition under Rule 16a-6	$493	+150	+1.7%	$3.29	9,140	10 Mar 2023	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Options Exercise		+3,171	+35%		12,311	31 Mar 2023	Direct	F2
transaction	CIA	Citizens, Inc. Class A Common Stock	Tax liability	$2,868	-773	-6.3%	$3.71	11,538	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	-3,171	-33%	$0.000000	6,342	31 Mar 2023	Class A Common Stock	3,171		Direct	F2, F3
transaction	CIA	Restricted Stock Units	Award	$0	+25,606		$0.000000	25,606	31 Mar 2023	Class A Common Stock	25,606		Direct	F2, F5
holding	CIA	Restricted Stock Units						16,000	06 Jan 2023	Class A Common Stock	16,000		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	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).
F4	On July 1, 2021, the reporting person was granted an award of restricted stock units, vesting in three equal annual installments on the first anniversary date of the grant (July 1, 2022) and the second anniversary date of the grant (July 1, 2023) and the third anniversary date of the grant (July 1, 2024)
F5	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).