Palomar Holdings (PLMR) CEO awarded RSUs as PSU shares vest and tax shares sold
Rhea-AI Filing Summary
Palomar Holdings, Inc. CEO and Chairman Mac Armstrong reported several equity-related transactions dated January 28, 2026. He received 21,539 restricted stock units (RSUs) that vest in three equal annual installments starting one year after the grant date, subject to continued service.
A previously granted performance stock unit (PSU) award vested after the Compensation Committee confirmed achievement of company financial performance goals, resulting in 22,907 shares of common stock being earned. In connection with this vesting, 11,484 shares were automatically sold by the company at $119.88 per share under a mandatory sell-to-cover feature to satisfy minimum tax withholding obligations.
After these transactions, Armstrong held 91,737 shares of common stock directly, including shares acquired through the employee stock purchase plan, and 348,388 shares indirectly through the Armstrong Family Trust, as well as 21,539 RSUs outstanding.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units (RSUs) | 21,539 | $0.00 | -- |
| Exercise | Common Stock (PSUs) | 22,907 | $0.00 | -- |
| Sale | Common Stock (PSUs) | 11,484 | $119.88 | $1.38M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Includes 2,652 shares purchased pursuant to the Palomar Holdings, Inc. 2019 Employee Stock Purchase Plan (ESPP). Represents the date on which the Compensation Committee ratified the achievement of certain company financial performance criteria related to a previously granted performance stock unit ("PSU") award causing the award to become vested. Represents the number of shares of common stock determined to have been earned and vested from a previously granted PSU award. The PSU award was granted on 1/31/2023 and vested based on i. the grantee completing the required service period through 1/1/2026 and ii. the Compensation Committee ratifying the number of shares earned based on the achievement of certain company financial performance criteria. Represents shares automatically sold by the Company on behalf of the Reporting Person pursuant to a mandatory sell-to-cover provision in the PSU award agreement required to cover minimum statutory tax withholding obligations that became due upon the PSU vesting event. The original RSU grant was for 21,539 shares on 1/28/2026. Subject to continuing service with the Company, the restricted stock units shall vest as follows: one-third (1/3) shall vest on the first year anniversary of the date of the grant; an additional one-third (1/3) shall vest on the second year anniversary of the date of the grant; and the final one-third (1/3) shall vest on the third year anniversary of the date of grant.
