Citizens Inc SEC Filings

Citizens (NYSE:CIA) filed a Form 3 — an initial statement of beneficial ownership — for newly appointed director Peter M. Carlson.

The filing reports zero directly held Class A common shares and the grant of 12,012 restricted stock units on June 17, 2025. These RSUs, each convertible into one share, are scheduled to vest on June 17, 2026. No other derivative or non-derivative securities were disclosed.

Citizens (NYSE:CIA) filed an 8-K reporting the final voting results of its 2025 Annual Meeting held on June 17, 2025.

Shareholders elected all eight director nominees, with votes “FOR” ranging from 2.86 million to 3.43 million. Grant Thornton LLP was ratified as independent auditor with 6.46 million votes (97%) in favor. The non-binding Say-On-Pay proposal passed with 80% support. No additional proposals or material matters were presented, and the filing contains no new financial, strategic, or risk disclosures.

Cynthia H. Davis, a director of Citizens, Inc. (CIA), reported multiple equity transactions on Form 4 covering activity from 1 January to 20 June 2025.

• Open-market/plan purchases: Six monthly purchases under the Citizens Stock Investment Plan added a combined 398.80 shares at prices between $3.77 and $5.00, increasing direct ownership to 31,506.38 shares prior to the June events.
• RSU vesting & share issuance: On 18 June 2025, 14,035 restricted stock units (RSUs) vested and were automatically converted to Class A common shares at a zero exercise price (code “M”), lifting total directly held shares to 45,541.38.
• Fractional share sale: 0.3809 fractional shares were sold for $3.40 (code “J”) to clear the plan account; net proceeds to the insider were $0.00.
• New equity incentive grant: On 17 June 2025, Davis received a new award of 12,012 RSUs that will vest on 17 June 2026. After the grant, she holds 12,012 derivative RSUs in addition to the common shares above.

Post-transaction beneficial ownership now stands at 45,541 common shares directly plus 12,012 unvested RSUs. The filings indicate a continued increase in insider equity exposure, aligning director incentives with shareholder interests. Given Citizens’ modest share price (recent transactions executed around $3.77-$5.00), the cumulative dollar value of new ownership (~$200k) is immaterial to the company’s capitalization but may signal confidence from the board member.

Citizens, Inc. (CIA) Form 4 filing – Director equity activity

The report covers two equity transactions by director Christopher W. Claus. On 17 June 2025 he received 12,012 restricted stock units (RSUs) that will vest on 17 June 2026 (Code A). One day later, on 18 June 2025, he converted 14,035 previously granted RSUs into Class A common shares (Code M). No shares were sold and no cash price was paid for either transaction, reflecting routine equity compensation rather than open-market buying or selling.

Following the conversion, Claus’ direct ownership increased to 72,393.492 Class A shares. The filing shows he remains a non-executive director and is not a 10% owner. The additional equity raises his direct stake in the company and maintains board-level alignment with shareholder interests, but does not represent a fresh cash outlay by the insider nor signal a valuation view.

Citizens, Inc. (CIA) – Form 4 insider filing

Director James Keith Morgan reported two equity transactions on 17-18 Jun 2025:

• 12,012 Restricted Stock Units (RSUs) granted on 17 Jun 2025 (Code A). These RSUs vest 17 Jun 2026 and represent contingent rights to one share of Class A common stock each.
• 14,035 RSUs converted into 14,035 Class A shares on 18 Jun 2025 (Code M). The underlying award was originally granted 18 Jun 2024 and fully vested on 18 Jun 2025. No cash consideration was paid (exercise price $0).

Following the conversion, the director’s direct beneficial ownership rises to 94,182 Class A shares. There were no open-market sales; all activity reflects compensation-related grants and vesting.

Key takeaways for investors:

• The filing shows share accumulation, not disposition, which may be interpreted as insider confidence, though it is routine for RSU vesting cycles.
• The newly issued shares are dilutive in a technical sense, but the total amount (< 0.1 % of outstanding shares) is immaterial to overall float.
• No information is provided on company fundamentals or earnings; this filing is administrative rather than a signal of operational performance.

CITIZENS, INC. (CIA) – Form 4 insider activity for Director Jerry Davis

The filing discloses two separate equity transactions and one new equity award:

• 05/30/2025 (Code L): Davis purchased 526.9977 Class A shares through the Stock Investment Plan at $3.77 per share.
• 06/18/2025 (Code M): 14,035 shares were issued on settlement of previously granted Restricted Stock Units (RSUs) that vested on 06/18/2025.
• 06/17/2025 (Code A): Davis received a new grant of 12,012 RSUs that will vest on 06/17/2026.

Following the reported acquisitions, Davis’ direct ownership of Class A common stock increased to 70,327.6676 shares. The director now holds 12,012 un-vested RSUs and no other derivative securities from prior grants. No dispositions of common shares occurred.

Citizens, Inc. (CIA) – Form 4 insider activity for Director Mary Taylor

The filing details a series of seven reportable transactions executed between 1 January 2025 and 18 June 2025. Six of the transactions (coded “L”) represent small, regular monthly purchases of Class A common stock through the company’s Stock Investment Plan, totaling 664.5 shares acquired at prices ranging from $3.77-$5.00. The largest change occurred on 18 June 2025, when 14,035 shares were acquired upon the vesting and settlement (code “M”) of previously granted restricted stock units (RSUs). As a result, Taylor’s direct beneficial ownership of Citizens, Inc. common stock rose from 33,062.4732 shares at the beginning of the period to 47,655.9855 shares, an increase of roughly 14,593 shares (+44%).

Derivative activity shows:

• Grant of 12,012 new RSUs on 17 June 2025, which will vest on 17 June 2026.
• Exercise of 14,035 RSUs on 18 June 2025, exhausting that grant.

No shares were disposed of, and there were no sales corresponding to tax withholding. All transactions were filed by one reporting person and were made under the company’s stock plans; no 10b5-1 plan was indicated.

The absence of sales combined with incremental open-market accumulation and RSU settlement increases management’s equity stake, a signal that can be interpreted as director confidence, though the majority of the increase stems from routine equity compensation vesting rather than discretionary buying.

On June 17–18, 2025, Citizens, Inc. (CIA) director Terry Sam Maness filed a Form 4 disclosing routine equity incentive activity:

• New grant: 12,012 restricted stock units (RSUs) awarded on June 17, 2025, scheduled to vest on June 17, 2026.
• RSU conversion: 14,035 RSUs granted on June 18, 2024 converted into an equal number of Class A common shares on June 18, 2025 (transaction code M).
• Post-transaction ownership: 48,164 Class A shares held directly plus 12,012 unvested RSUs.

The filing reflects internal compensation events with no open-market buying or selling. While the director’s direct share count increased, the transactions are non-cash and typical for equity-based compensation, implying only a modestly positive alignment signal for shareholders.