Palomar CRO exercises RSUs, auto-sale covers tax
Palomar Holdings, Inc.’s Chief Risk Officer Jonathan Knutzen reported routine equity compensation activity.
Rhea-AI Filing Summary
Palomar Holdings, Inc.’s Chief Risk Officer Jonathan Knutzen reported routine equity compensation activity. On May 18, 2026, 612 Restricted Stock Units converted into an equal number of Palomar common shares at an exercise price of $0.0000 per share.
To satisfy minimum statutory tax withholding obligations from this vesting, the company automatically sold 281 shares on his behalf at $115.26 per share under a mandatory sell-to-cover provision, rather than a discretionary open-market trade. After these transactions, Knutzen directly holds 27,934 common shares and 1,224 RSUs, including 1,410 shares acquired through the 2019 Employee Stock Purchase Plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
3 txns
Insider
Knutzen Jonathan
Role
Chief Risk Officer
Sold
281 shs ($32K)
Approx. gross sale proceeds
$32K
Approx. exercise cost
$0.00
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 612 | $0.00 | $0.00 |
| Exercise | Common Stock (RSUs) | 612 | $0.00 | $0.00 |
| Sale | Common Stock (RSUs) | 281 | $115.26 | $32K |
Holdings After Transaction:
Restricted Stock Units — 1,224 contracts (Direct);
Common Stock (RSUs) — 27,934 shares (Direct)
Footnotes (3)
- 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 1,410 shares purchased pursuant to the Palomar Holdings, Inc. 2019 Employee Stock Purchase Plan (ESPP).
- F3. The original RSU grant was for 12,238 shares on 11/18/2021. Subject to continuing service with the Company, the restricted stock units shall vest as follows: 2,448 units shall vest on the first year anniversary of the date of the grant; 2,447 units shall vest on the second year anniversary of the date of the grant; 2,447 units shall vest on the third year anniversary of the date of grant; and 612 units shall vest quarterly following the third anniversary date of the grant.
Key Figures
Shares sold to cover tax: 281 shares at $115.26
RSUs vested and converted: 612 shares at $0.0000
Common shares held after transaction: 27,934 shares
+5 more
8 metrics
Shares sold to cover tax
281 shares at $115.26
Automatic sell-to-cover on May 18, 2026
RSUs vested and converted
612 shares at $0.0000
RSU vesting on May 18, 2026
Common shares held after transaction
27,934 shares
Direct ownership following May 18, 2026 events
RSUs remaining after transaction
1,224 units
Restricted Stock Units position after vesting and conversion
Original RSU grant size
12,238 units
Grant dated November 18, 2021
ESPP shares included in holdings
1,410 shares
Purchased under 2019 Employee Stock Purchase Plan
First-year RSU vesting tranche
2,448 units
Vest on first anniversary of November 18, 2021 grant
Second and third-year RSU tranches
2,447 units each year
Vest on second and third anniversaries of grant date
Key Terms
sell-to-cover, Restricted Stock Units, minimum statutory tax withholding obligations, Employee Stock Purchase Plan (ESPP), +1 more
5 terms
sell-to-cover financial
"Represents shares automatically sold by the Company on behalf of the Reporting Person pursuant to a mandatory sell-to-cover provision"
Sell-to-cover is when part of newly issued or exercised company stock is immediately sold to pay required taxes and fees, so the recipient keeps the remaining shares. For investors this matters because it reduces the number of shares insiders or employees actually hold after a grant, can create small, routine share sales that aren’t signal of cashing out, and slightly increases share supply on the market—like selling a portion of a paycheck to cover the tax bill.
Restricted Stock Units financial
"The original RSU grant was for 12,238 shares on 11/18/2021. Subject to continuing service with the Company, the restricted stock units shall vest"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
minimum statutory tax withholding obligations financial
"required to cover minimum statutory tax withholding obligations that became due upon the RSU vesting event"
Employee Stock Purchase Plan (ESPP) financial
"Includes 1,410 shares purchased pursuant to the Palomar Holdings, Inc. 2019 Employee Stock Purchase Plan (ESPP)"
derivative exercise/conversion financial
"transaction_action": "derivative exercise/conversion", "transaction_code_description": "Exercise or conversion of derivative security"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Palomar (PLMR) report for Jonathan Knutzen?
Palomar reported that Chief Risk Officer Jonathan Knutzen had 612 RSUs vest into common shares and 281 of those shares were automatically sold to cover tax withholding. These actions reflect routine equity compensation mechanics, not a discretionary open-market trading decision.
How many Palomar (PLMR) RSUs vested for Jonathan Knutzen in this filing?
A total of 612 Restricted Stock Units vested for Knutzen and converted into the same number of Palomar common shares at an exercise price of $0.0000. These RSUs are part of a larger 12,238-unit grant with a multi-year, service-based vesting schedule.
What are Jonathan Knutzen’s Palomar (PLMR) holdings after the reported transactions?
Following the transactions, Knutzen directly holds 27,934 Palomar common shares and 1,224 remaining RSUs. His common share position includes 1,410 shares previously purchased through the Palomar Holdings, Inc. 2019 Employee Stock Purchase Plan, according to the filing footnotes.
What is the vesting schedule for Jonathan Knutzen’s 2021 Palomar (PLMR) RSU grant?
The original RSU grant was 12,238 units dated November 18, 2021. 2,448 units vest on the first anniversary, 2,447 on the second, 2,447 on the third, and 612 units vest quarterly following the third anniversary, all subject to continued service with the company.
AI-generated analysis. How Rhea-AI works. Not financial advice.
