Gerald Shields - Apr 1, 2024 Form 4 Insider Report for CITIZENS, INC. (CIA)

Role: Director
Signature: /s/Sheryl Kinlaw, Attorney-in-Fact
Stock symbol: CIA
Transactions as of: Apr 1, 2024
Transactions value $: -$72,287
Form type: 4
Date filed: 7/2/2024, 04:32 PM
Previous filing: Apr 2, 2024

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	$1.97K	+903	+0.49%	$2.18	186K	Apr 1, 2024	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Small acquisition under Rule 16a-6	$1.97K	+888	+0.48%	$2.22	186K	May 3, 2024	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Small acquisition under Rule 16a-6	$1.98K	+662	+0.36%	$2.99	187K	May 31, 2024	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Options Exercise		+42.2K	+22.56%		229K	Jun 28, 2024	Direct	F2
transaction	CIA	Citizens, Inc. Class A Common Stock	Tax liability	-$28K	-10.3K	-4.48%	$2.72	219K	Jun 28, 2024	Direct
transaction	CIA	Citizens, Inc. Class A Common Stock	Options Exercise		+75.8K	+34.62%		295K	Jun 28, 2024	Direct	F2
transaction	CIA	Citizens, Inc. Class A Common Stock	Tax liability	-$50.2K	-18.5K	-6.26%	$2.72	276K	Jun 28, 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	-42.2K	-100%	$0.00^*	0	Jun 28, 2024	Class A Common Stock	42.2K		Direct	F2, F3
transaction	CIA	Restricted Stock Units	Options Exercise	$0	-75.8K	-100%	$0.00^*	0	Jun 28, 2024	Class A Common Stock	75.8K		Direct	F2, F4
holding	CIA	Restricted Stock Units						46.7K	Apr 1, 2024	Class A Common Stock	46.7K		Direct	F2, F5

* 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, 2023, the reporting person was granted an award of restricted stock units (RSUs). These RSUs fully accelerated and vested upon the reporting person's retirement on June 30, 2024.
F4	On March 28, 2024, the reporting person was granted an award of RSUs under the Citizens, Inc. Omnibus Incentive Plan for 2023 pay-for-performance. These RSUs fully accelerated and vested upon the reporting person's retirement on June 30, 2024.
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).