Sheryl L. Kinlaw - 05 Apr 2024 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: 05 Apr 2024
Net transactions value: -$2,640
Form type: 4
Filing time: 02 Jul 2024, 16:39:54 UTC
Previous filing: 02 Apr 2024
Next filing: 10 Oct 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	Small acquisition under Rule 16a-6	$491	+231	+0.77%	$2.13	30,077	05 Apr 2024	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Small acquisition under Rule 16a-6	$490	+237	+0.79%	$2.07	30,314	19 Apr 2024	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Small acquisition under Rule 16a-6	$492	+201	+0.66%	$2.45	30,515	10 May 2024	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Small acquisition under Rule 16a-6	$492	+176	+0.58%	$2.80	30,690	24 May 2024	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Small acquisition under Rule 16a-6	$493	+168	+0.55%	$2.94	30,858	07 Jun 2024	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Small acquisition under Rule 16a-6	$492	+162	+0.52%	$3.04	31,020	21 Jun 2024	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Options Exercise		+8,000	+26%		39,020	01 Jul 2024	Direct	F2
transaction	CIA	Citizens, Inc. Class A Common Stock	Tax liability	$5,591	-1,948	-5%	$2.87	37,072	01 Jul 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	-8,000	-100%	$0.000000^*	0	01 Jul 2024	Class A Common Stock	8,000		Direct	F2, F3
holding	CIA	Restricted Stock Units						3,171	05 Apr 2024	Class A Common Stock	3,171		Direct	F2, F4
holding	CIA	Restricted Stock Units						17,071	05 Apr 2024	Class A Common Stock	17,071		Direct	F2, F5
holding	CIA	Restricted Stock Units						45,518	05 Apr 2024	Class A Common Stock	45,518		Direct	F2, F6
holding	CIA	Restricted Stock Units						32,710	05 Apr 2024	Class A Common Stock	32,710		Direct	F2, F7

* 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 contribution.
F2	Each restricted stock unit represents a contingent right to receive one share of Citizens, Inc. Class A common stock.
F3	On July 1, 2021, the reporting person was granted an award of restricted stock units (RSUs), 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)
F4	On March 31, 2022, 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, 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).
F5	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).
F6	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. 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).
F7	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).