Robert M. Mauldin III - 28 Mar 2024 Form 4 Insider Report for CITIZENS, INC. (CIA)

Role: VP, Chief Marketing Officer
Signature: /s/Robert M. Maudlin III
Issuer symbol: CIA
Transactions as of: 28 Mar 2024
Net transactions value: -$11,682
Form type: 4
Filing time: 02 Apr 2024, 17:40:51 UTC
Previous filing: 31 Jan 2024
Next filing: 01 Apr 2025
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		+6,187	+7.5%		88,976	31 Mar 2024	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Tax liability	$3,835	-1,792	-2%	$2.14	87,184	31 Mar 2024	Direct
transaction	CIA	Citizens, Inc. Class A Common Stock	Options Exercise		+12,668	+15%		99,852	31 Mar 2024	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Tax liability	$7,847	-3,667	-3.7%	$2.14	96,185	31 Mar 2024	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	-50%	$0.000000	6,187	31 Mar 2024	Class A Common Stock	6,187		Direct	F1, F2
transaction	CIA	Restricted Stock Units	Options Exercise	$0	-12,688	-33%	$0.000000	25,317	31 Mar 2024	Class A Common Stock	12,688		Direct	F1, F3
transaction	CIA	Restricted Stock Units	Award	$0	+57,391		$0.000000	57,391	28 Mar 2024	Class A Common Stock	57,391		Direct	F1, F4
transaction	CIA	Restricted Stock Units	Award	$0	+32,710		$0.000000	32,710	28 Mar 2024	Class A Common Stock	32,710		Direct	F1, F5

* 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 (RSUs), 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 March 31, 2023, the reporting person was granted an award of RSUs, 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).
F4	On March 28, 2024, the reporting person was granted an award of restricted stock units (RSUs) under the Citizens, Inc. Omnibus Incentive Plan for 2023 pay-for-performance. The RSUs vest in three equal annual installments on the first anniversary of the date of the grant (March 28, 2025) and the second anniversary of the date of the grant (March 28, 2026) and the third anniversary of the date of the grant (March 28, 2027).
F5	On March 28, 2024, the reporting person was granted an award of RSUs under the Citizens, Inc. Omnibus Incentive Plan for 2024 long-term incentive. The RSUs vest in three equal annual installments on the first anniversary of the date of the grant (March 28, 2025) and the second anniversary of the date of the grant (March 28, 2026) and the third anniversary of the date of the grant (March 28, 2027).