Jonathan Knutzen - Nov 18, 2021 Form 4 Insider Report for Palomar Holdings, Inc. (PLMR)

Role
Chief Risk Officer
Signature
/s/ Christopher Uchida, Attorney-in-Fact
Stock symbol
PLMR
Transactions as of
Nov 18, 2021
Transactions value $
$0
Form type
4
Date filed
11/22/2021, 05:59 PM
Previous filing
Sep 10, 2021
Next filing
Jan 28, 2022

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 PLMR Restricted Stock Units (RSUs) Award $0 +12.2K $0.00 12.2K Nov 18, 2021 Common Stock 12.2K Direct F1, F2
transaction PLMR Performance Share Units (PSUs) Award $0 +22.7K $0.00 22.7K Nov 18, 2021 Common Stock 22.7K Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each RSU represents a contingent right to receive one share of Palomar Holdings, Inc. Common Stock.
F2 Subject to the Reporting Person's continuing service with the Company, the RSUs shall vest as follows: 2,448 shares shall vest on the first year anniversary of the Grant Date/Vesting Base Date; 2,447 shares shall vest on the second year anniversary of the Grant Date/Vesting Base Date; 2,447 shares shall vest on the third year anniversary of the Grant Date/Vesting Base Date; after the third anniversary of the Grant Date/Vesting Base Date, 612 shares shall vest on a quarterly basis thereafter, until fully vested.
F3 Each PSU represents a contingent right to receive one share of Palomar Holdings, Inc. Common Stock.
F4 The PSUs that become earned shall vest in eight equal installments provided that the applicable performance goal for each individual installment has been achieved, and shall vest on December 31, 2026 subject to the continuous service of the Reporting Person as an Employee of the Issuer through such date. The applicable performance goal for each tranche will be satisfied if the Issuer's Common Stock achieves a specified per share market price for such tranche for at least 30 consecutive trading days. If the applicable performance goals have not been achieved by December 31, 2026 or such earlier date that the Reporting Person ceases to be an Employee before December 31, 2026, all unvested PSUs will be forfeited.