Gerald Shields - 01 Apr 2024 Form 4 Insider Report for CITIZENS, INC. (CIA)

Role: Director
Signature: /s/Sheryl Kinlaw, Attorney-in-Fact
Issuer symbol: CIA
Transactions as of: 01 Apr 2024
Net transactions value: -$72,287
Form type: 4
Filing time: 02 Jul 2024, 16:32:10 UTC
Previous filing: 02 Apr 2024
Next filing: 02 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	Small acquisition under Rule 16a-6	$1,969	+903	+0.49%	$2.18	185,598	01 Apr 2024	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Small acquisition under Rule 16a-6	$1,972	+888	+0.48%	$2.22	186,487	03 May 2024	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Small acquisition under Rule 16a-6	$1,980	+662	+0.36%	$2.99	187,149	31 May 2024	Direct	F1
transaction	CIA	Citizens, Inc. Class A Common Stock	Options Exercise		+42,230	+23%		229,379	28 Jun 2024	Direct	F2
transaction	CIA	Citizens, Inc. Class A Common Stock	Tax liability	$27,972	-10,284	-4.5%	$2.72	219,095	28 Jun 2024	Direct
transaction	CIA	Citizens, Inc. Class A Common Stock	Options Exercise		+75,845	+35%		294,940	28 Jun 2024	Direct	F2
transaction	CIA	Citizens, Inc. Class A Common Stock	Tax liability	$50,236	-18,469	-6.3%	$2.72	276,471	28 Jun 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	-42,230	-100%	$0.000000^*	0	28 Jun 2024	Class A Common Stock	42,230		Direct	F2, F3
transaction	CIA	Restricted Stock Units	Options Exercise	$0	-75,845	-100%	$0.000000^*	0	28 Jun 2024	Class A Common Stock	75,845		Direct	F2, F4
holding	CIA	Restricted Stock Units						46,729	01 Apr 2024	Class A Common Stock	46,729		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).