Palomar CEO reports 118,750-share award vesting, tax sales
Palomar Holdings CEO and Chairman Mac Armstrong reported equity award activity on July 15, 2026.
Rhea-AI Filing Summary
Palomar Holdings CEO and Chairman Mac Armstrong reported equity award activity on July 15, 2026. He acquired 118,750 shares of common stock through vesting and conversion of PSU and RSU grants, while 60,741 shares were automatically sold at $131.66 under mandatory sell-to-cover provisions to satisfy minimum tax withholding. After these events he held 102,059 common shares directly and 329,388 shares indirectly via the Armstrong Family Trust. A 225,000-share PSU grant from July 2021 resulted in 112,500 shares vesting and 112,500 PSUs being forfeited.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
8 txns
Insider
Armstrong Mac
Role
CEO and Chairman
Sold
60,741 shs ($8.00M)
Approx. gross sale proceeds
$8.00M
Approx. exercise cost
$0.00
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units (RSUs) F6 | 6,250 | $0.00 | $0.00 |
| Exercise | Performance Share Units (PSUs) F7 | 112,500 | $0.00 | $0.00 |
| Exercise | Common Stock (RSUs) F1 | 6,250 | $0.00 | $0.00 |
| Sale | Common Stock (RSUs) F2, F1 | 3,197 | $131.66 | $421K |
| Exercise | Common Stock (PSUs) F3, F4, F1 | 112,500 | $0.00 | $0.00 |
| Sale | Common Stock (PSUs) F5, F1 | 57,544 | $131.66 | $7.58M |
| holding | Common Stock F1 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units (RSUs) — 0 contracts (Direct);
Performance Share Units (PSUs) — 0 contracts (Direct);
Common Stock (RSUs) — 105,112 shares (Direct);
Common Stock (PSUs) — 160,068 shares (Direct);
Common Stock — 102,059 shares (Direct);
Common Stock — 329,388 shares (Indirect, By Armstrong Family Trust)
Footnotes (7)
- F1. Includes 2,754 shares purchased pursuant to the Palomar Holdings, Inc. 2019 Employee Stock Purchase Plan (ESPP).
- F2. 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.
- F3. Represents the vesting date of previously granted performance stock unit ("PSU") awards, which vested based on the applicable per-share market price thresholds having been achieved and the grantee completing the required service period through such date.
- F4. Represents the number of shares determined to have been earned and vested from a previously granted PSU award. The PSU award was granted on 7/15/2021 and the number of shares that vested was based on achievement of the applicable per-share market price thresholds and the grantee completing the required service period through 7/15/2026.
- F5. 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.
- F6. The original RSU grant was for 125,000 shares on 7/15/2021. Subject to the Reporting Person's continuing service with the Company, the RSUs shall vest as follows: 25,000 shares shall vest on the first year anniversary of the Grant Date/Vesting Base Date; 25,000 shares shall vest on the second year anniversary of the Grant Date/Vesting Base Date; 25,000 shares shall vest on the third year anniversary of the Grant Date/Vesting Base Date; after the third anniversary of the Grant Date/Vesting Base Date, 6,250 shares shall vest on a quarterly basis thereafter, until fully vested.
- F7. The original PSU grant was for 225,000 shares on 7/15/2021, vesting in eight equal installments, of which four installments (112,500 shares) vested as reported in this Form 4 and the remaining four installments (112,500 shares) were forfeited as described below. Subject to the Reporting Person's continuing service with the Company as an Employee and/or Director of the Issuer and the achievement of the applicable per-share market price threshold for each individual installment, the PSUs shall vest on July 15, 2026. If the applicable market price thresholds have not been achieved by July 15, 2026 or such earlier date that the Reporting Person ceases to be an Employee before December 31, 2025 or ceases to be either an Employee or a Director (or both) before the fifth anniversary of the Grant Date/Vesting Start Date, all unvested PSUs will be forfeited.
Key Figures
Shares sold for tax withholding: 60,741 shares
Shares acquired via vesting: 118,750 shares
Sale price: $131.66 per share
+4 more
7 metrics
Shares sold for tax withholding
60,741 shares
Total shares automatically sold at $131.66 to cover RSU and PSU tax obligations on July 15, 2026
Shares acquired via vesting
118,750 shares
Common shares received through PSU and RSU vesting and conversion on July 15, 2026
Sale price
$131.66 per share
Price for RSU and PSU shares sold under mandatory sell-to-cover provisions
Direct common shares held
102,059 shares
Direct Palomar common stock holdings reported after the transactions
Indirect common shares held
329,388 shares
Common shares held indirectly through the Armstrong Family Trust after the transactions
Original PSU grant
225,000 shares
Performance Share Units granted on July 15, 2021; 112,500 vested and 112,500 were forfeited
Original RSU grant
125,000 shares
Restricted Stock Units granted on July 15, 2021 with annual and then quarterly vesting
Key Terms
mandatory sell-to-cover provision, Performance Share Units (PSUs), Restricted Stock Units (RSUs), per-share market price thresholds, +1 more
5 terms
mandatory sell-to-cover provision financial
"shares automatically sold by the Company pursuant to a mandatory sell-to-cover provision"
Restricted Stock Units (RSUs) financial
"The original RSU grant was for 125,000 shares on 7/15/2021"
Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.
Employee Stock Purchase Plan (ESPP) financial
"shares purchased pursuant to the Palomar Holdings, Inc. 2019 Employee Stock Purchase Plan (ESPP)"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What transactions did Palomar Holdings (PLMR) CEO Mac Armstrong report on July 15, 2026?
Mac Armstrong reported PSU and RSU equity award vesting and related share sales. He received 118,750 Palomar common shares from performance and restricted stock units, and 60,741 shares were automatically sold to cover tax withholding tied to those vesting events.
What were the original PSU and RSU grants to Palomar (PLMR) CEO Mac Armstrong?
A PSU grant originally covered 225,000 shares and an RSU grant covered 125,000 shares, both dated July 15, 2021. Footnotes state 112,500 PSUs vested and 112,500 were forfeited, while RSUs vest annually and then quarterly, subject to continued service.
AI-generated analysis. How Rhea-AI works. Not financial advice.
