[Form 4] Citizens, Inc. Insider Trading Activity

Rhea-AI Filing Summary

CITIZENS, INC. (CIA) reporting person Bryon Matthew Lewis, Chief Operations Officer, reported stock unit vesting and a small sale on August 15, 2025. The filing shows 2,625 restricted stock units (RSUs) deemed acquired on that date (each RSU converts to one Class A share) and a separate disposition of 640 Class A shares sold at $5.10, leaving the reporting person with 14,679.8062 shares after the sale. The derivative table details existing RSU awards from grants dated August 15, 2023; March 28, 2024; and March 31, 2025, with vesting schedules in three equal annual installments. The form is signed and dated August 19, 2025.

Insights

Financial Analyst

TL;DR: Routine executive RSU vesting with a small open-market sale; not materially dilutive or transaction-size significant.

The report documents scheduled vesting events and a modest disposition of 640 shares at $5.10 on August 15, 2025, consistent with compensation plan vesting timelines. Aggregate post-transaction beneficial ownership is reported as 14,679.8062 Class A shares. The RSU awards originate from three grant dates with standard three-year annual vesting, indicating ongoing retention-based compensation rather than extraordinary equity actions. No new grants, buybacks, financing, or unusual insider activity are disclosed.

Corporate Governance Expert

TL;DR: Disclosure aligns with compensation program rules and Section 16 reporting obligations; governance implications are routine.

The Form 4 shows compliance with reporting requirements for an officer receiving and vesting RSUs and effecting a sale. The multiple RSU grant schedules and documented vesting dates support structured long-term incentive alignment. The small sale at $5.10 appears to be a discrete disposition and is fully disclosed. There are no indications of policy breaches, exception plans, or transactions executed under an explicit 10b5-1 plan in this filing.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lewis Bryon Matthew

(Last) (First) (Middle)

11815 ALTERRA PARKWAY, SUITE 1500

(Street)

AUSTIN TX 78758

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CITIZENS, INC. [ CIA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operations Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Citizens, Inc. Class A Common Stock	08/15/2025		M		2,625	A	(1)	15,319.8062	D
Citizens, Inc. Class A Common Stock	08/15/2025		F		640	D	$5.1	14,679.8062	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	08/15/2025		M			2,625	(2)	(2)	Class A Common Stock	2,625	$0	2,626	D
Restricted Stock Units	(1)							(3)	(3)	Class A Common Stock	5,176		5,176	D
Restricted Stock Units	(1)							(4)	(4)	Class A Common Stock	9,346		9,346	D
Restricted Stock Units	(1)							(5)	(5)	Class A Common Stock	6,593		6,593	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of Citizens, Inc. Class A common stock.

2. On August 15, 2023, the reporting person was granted an award of restricted stock units, vesting in three equal annual installments on the first anniversary date of the grant (August 15, 2024) and the second anniversary date of the grant (August 15, 2025) and the third anniversary date of the grant (August 15, 2026)

3. On March 28, 2024, the reporting person was granted an award of restricted stock units (RSUs) under the Citizens, Inc. Omnibus Incentive Plan for 2023 pay-for-performance. 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).

4. On March 28, 2024, the reporting person was granted an award of RSUs under the Citizens, Inc. Omnibus Incentive Plan for the 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).

5. On March 31, 2025, the reporting person was granted an award of RSUs under the Citizens, Inc. Omnibus Incentive Plan for the 2025 long-term incentive. The RSUs vest in three equal annual installments on the first anniversary of the date of the grant (March 31, 2026) an dthe second anniversary of the date of the grant (March 31, 2027) and the third anniversary of the date of the grant (March 31, 2028).

Remarks:

	/s/Bryon Matthew Lewis	08/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transactions did CITIZENS, INC. (CIA) report for Bryon Matthew Lewis on August 15, 2025?

The filing reports 2,625 RSUs deemed acquired and a sale of 640 Class A shares at $5.10 on August 15, 2025.

How many Class A shares does the reporting person beneficially own after the transactions?

The report states the reporting person beneficially owned 14,679.8062 Class A shares following the transactions.

What are the vesting schedules for the RSU grants disclosed in the Form 4?

Grants dated August 15, 2023; March 28, 2024; and March 31, 2025 vest in three equal annual installments beginning on each grant's first anniversary.

Was the disposition executed at market price and what was the price?

Yes; the Form 4 lists a disposition of 640 shares at $5.10 per share.

Does the filing indicate the transactions were part of a 10b5-1 plan?

The filing does not indicate that these transactions were made pursuant to a 10b5-1 plan; no 10b5-1 checkbox or plan reference is stated.