CITIZENS, INC. SEC Filings

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

Chief Actuary Harvey J. Waite reported four open-market purchases of Class A common stock through the company’s Stock Investment Plan. The transactions occurred on 03/31/2025 (544.9828 shares at $4.56), 05/02/2025 (594.7455 shares at $4.17), 05/30/2025 (658.7451 shares at $3.77) and 06/27/2025 (676.1309 shares at $3.67). In total, Waite acquired 2,474.6043 shares for an aggregate cost of roughly $9,500 based on the disclosed prices. Following these purchases, his direct beneficial ownership stands at 81,161.298 shares. No derivative securities were involved and no sales were reported.

The filing reflects routine, payroll-deduction plan activity rather than a discretionary bulk purchase. While it indicates continued insider accumulation, the share count represents a small addition relative to Waite’s existing position and Citizens’ public float.

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.

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 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.