Mac Armstrong - Sep 8, 2023 Form 4 Insider Report for Palomar Holdings, Inc. (PLMR)

Role: CEO and Chairman, Director
Signature: /s/ Angela Grant, Attorney-in-Fact
Stock symbol: PLMR
Transactions as of: Sep 8, 2023
Transactions value $: -$728,121
Form type: 4
Date filed: 9/22/2023, 05:38 PM
Previous filing: Aug 9, 2023
Next filing: Jan 3, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PLMR	Common Stock (RSUs)	Options Exercise	$0	+25K	+107.63%	$0.00	48.2K	Jul 15, 2023	Direct	F2
transaction	PLMR	Common Stock (RSUs)	Tax liability	-$697K	-12.6K	-26.16%	$55.26	35.6K	Jul 15, 2023	Direct	F1, F2
transaction	PLMR	Common Stock (RSUs)	Options Exercise	$0	+1.21K	+3.41%	$0.00	36.8K	Sep 8, 2023	Direct	F2
transaction	PLMR	Common Stock (RSUs)	Tax liability	-$30.9K	-602	-1.63%	$51.27	36.2K	Sep 8, 2023	Direct	F1, F2
holding	PLMR	Common Stock						489K	Sep 8, 2023	By Armstrong Family Trust
holding	PLMR	Common Stock						23.2K	Sep 8, 2023	Direct	F2

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	Options Exercise	$0	-25K	-25%	$0.00	75K	Jul 15, 2023	Common Stock	25K	$0.00	Direct	F3
transaction	PLMR	Restricted Stock Units	Options Exercise	$0	-1.21K	-100%	$0.00^*	0	Sep 8, 2023	Common Stock	1.21K	$0.00	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents shares automatically sold by the Company on behalf of the Reporting Person pursuant to a mandatory sell-to-cover provision in the RSU award agreement required to cover minimum statutory tax withholding obligations that became due upon the RSU vesting event.
F2	Includes 2,023 shares purchased pursuant to the Palomar Holdings, Inc. 2019 Employee Stock Purchase Plan (ESPP).
F3	The original RSU grant was for 125,000 shares on 7/15/2021. Subject to the Reporting Person's continuing service with the Company, the RSUs shall vest as follows: 25,000 shares shall vest on the first year anniversary of the Grant Date/Vesting Base Date; 25,000 shares shall vest on the second year anniversary of the Grant Date/Vesting Base Date; 25,000 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, 6,250 shares shall vest on a quarterly basis thereafter, until fully vested.
F4	The original RSU grant was for 3,638 shares on 9/8/2020. Subject to continuing service with the Company, the restricted stock units shall vest as follows: one-third (1/3) shall vest on the first year anniversary of the date of the grant; an additional one-third (1/3) shall vest on the second year anniversary of the date of the grant; and the final one-third (1/3) shall vest on the third year anniversary of the date of grant.