Citizens, Inc. Insider Award: 12,012 RSUs to Director Carlson

Rhea-AI Filing Summary

Form 4 discloses that Peter M. Carlson, a director of Citizens, Inc. (ticker: CIA), received an equity award on June 17, 2025. The award consists of 12,012 restricted stock units (RSUs), each representing the contingent right to receive one share of Class A common stock. No shares were sold or otherwise disposed of. All RSUs will vest on June 17, 2026, after which Mr. Carlson may receive an equal number of Class A shares if vesting conditions are satisfied. Following the grant, his directly held derivative position equals 12,012 RSUs, and his direct ownership of non-derivative Class A common shares is reported as zero.

The filing is routine, reflecting a customary annual equity grant to a board member. The size of the grant is modest relative to Citizens, Inc.’s total shares outstanding and therefore does not materially affect the company’s capital structure or insider ownership concentration.

Insights

Financial Analyst

TL;DR Routine RSU grant of 12,012 units to director; no shares sold; negligible balance-sheet or ownership impact.

The Form 4 records a standard director compensation event. The single transaction code "A" denotes an award, not an open-market purchase or sale. Because RSUs convert one-for-one into common stock upon vesting, the ultimate dilution is immaterial given Citizens, Inc.’s multi-million-share float. The filing offers no insight into operating performance, liquidity, or strategy; thus, it has neutral investment significance.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Carlson Peter M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	12,012	$0.00	--
holding	Citizens, Inc. Class A Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 12,012 shares (Direct); Citizens, Inc. Class A Common Stock — 0 shares (Direct)

Footnotes (1)

1. Each restricted stock unit represents a contingent right to receive one share of Citizens, Inc. Class A common stock. On June 17, 2025, the reporting person was granted 12,012 restricted stock units, vesting on June 17, 2026.

Form 4 Insider Transactions: What Each Field Means →

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Carlson Peter M

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2025

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								0	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)	06/17/2025		A		12,012		(2)	(2)	Citizens, Inc. Class A Common Stock	12,012	$0	12,012	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 June 17, 2025, the reporting person was granted 12,012 restricted stock units, vesting on June 17, 2026.

Remarks:

	/s/Sheryl Kinlaw, Attorney-in-Fact	06/20/2025
	** 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

How many Citizens, Inc. (CIA) shares were granted to the director?

The director received 12,012 restricted stock units, each convertible into one Class A share upon vesting.

When will the RSUs granted on June 17, 2025 vest?

All RSUs vest on June 17, 2026, one year after the grant date.

Did the director buy or sell any Citizens, Inc. stock?

No. The Form 4 shows only an award (Code A); there were no purchases or sales of existing shares.

Is this Form 4 filing material to Citizens, Inc. investors?

Given the small size of the grant relative to total shares, the filing is considered not materially impactful.

What is the director’s ownership position after the reported transaction?

Mr. Carlson now holds 12,012 RSUs directly and reports no direct ownership of Class A common shares.