Mac Armstrong - 26 Jan 2023 Form 4 Insider Report for Palomar Holdings, Inc. (PLMR)

Role: CEO and Chairman, Director
Signature: /s/ Angela Grant, Attorney-in-Fact
Issuer symbol: PLMR
Transactions as of: 26 Jan 2023
Transactions value $: $-144,226
Form type: 4
Filing time: 30 Jan 2023, 19:00:53 UTC
Previous filing: 20 Sep 2022
Next filing: 09 Aug 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PLMR	Common Stock (RSUs)	Options Exercise	$0	+5,398	+30.4%	$0.000000	23,159	26 Jan 2023	Direct	F2
transaction	PLMR	Common Stock (RSUs)	Tax liability	$-98,982	-1,998	-8.63%	$49.54	21,161	26 Jan 2023	Direct	F1, F2
transaction	PLMR	Common Stock (RSUs)	Options Exercise	$0	+2,629	+12.4%	$0.000000	23,790	26 Jan 2023	Direct	F2
transaction	PLMR	Common Stock (RSUs)	Tax liability	$-45,244	-920	-3.87%	$49.18	22,870	26 Jan 2023	Direct	F1, F2
holding	PLMR	Common Stock						569,388	26 Jan 2023	By Armstrong Family Trust
holding	PLMR	Common Stock						17,761	26 Jan 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	-5,398	-33.3%	$0.000000	10,795	26 Jan 2023	Common Stock	5,398	$0.000000	Direct	F3
transaction	PLMR	Restricted Stock Units	Options Exercise	$0	-2,629	-50%	$0.000000	2,630	26 Jan 2023	Common Stock	2,629	$0.000000	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 1,666 shares purchased pursuant to the Palomar Holdings, Inc. 2019 Employee Stock Purchase Plan (ESPP).
F3	The original RSU grant was for 16,193 shares on 1/26/2022. 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.
F4	The original RSU grant was for 7,889 shares on 1/27/2021. 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.