Form 4: Citizens, Inc. Executive Bryon Matthew Lewis Reports Stock Transactions
SEC Form 4
Bryon Matthew Lewis, Chief Operations Officer of Citizens, Inc., reports the vesting of restricted stock units and subsequent disposition of shares to cover tax obligations.
Summary
- Bryon Matthew Lewis, Chief Operations Officer of Citizens, Inc., filed a Form 4 detailing changes in beneficial ownership.
- On July 15, 2025, 1,278 shares of Class A Common Stock were acquired through the vesting of restricted stock units (RSUs).
- Also on July 15, 2025, 312 shares were disposed of to cover tax obligations at a price of $3.3 per share.
- Following these transactions, Lewis directly owns 12,694.8062 shares of Citizens, Inc. Class A Common Stock.
- Lewis also holds various restricted stock units that vest in future years: 5,251 units vesting from August 15, 2024, to August 15, 2026; 5,176 units vesting from March 28, 2025, to March 28, 2027; 9,346 units vesting from March 28, 2025, to March 28, 2027; and 6,593 units vesting from March 31, 2026, to March 31, 2028.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing primarily reports routine stock transactions related to executive compensation.
Positives
- Executive's holdings in company stock remain significant, indicating continued alignment with shareholder interests.
- Vesting of restricted stock units suggests the executive is meeting performance or tenure-based milestones.
Negatives
- Disposition of shares to cover tax obligations reduces the executive's direct holdings, although this is a common practice.
Future Outlook
The reporting person holds additional restricted stock units that will vest in the coming years, as per the vesting schedules outlined in the explanation of responses.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies and are closely monitored by investors to gauge management's confidence in the company's future prospects.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units to align management's interests with those of shareholders.
- Vesting schedules for RSUs typically range from three to five years, with annual or quarterly vesting installments.
- Disposition of shares to cover tax obligations is a standard practice among executives who receive equity compensation.
Stakeholder Impact
- Shareholders: Provides transparency into executive compensation and ownership.
- Employees: Demonstrates the company's commitment to incentivizing and rewarding its executives.
- Potential Investors: Offers insights into management's alignment with shareholder interests.
Key Dates
| Date | Description |
|---|---|
| 07/15/2022 | Reporting person was granted an award of restricted stock units, vesting in three equal annual installments on the first anniversary date of the grant (July 15, 2023) and the second anniversary date of the grant (July 15, 2024) and the third anniversary date of the grant (July 15, 2025) |
| 08/15/2023 | Reporting person was granted an award of restricted stock units, vesting in three equal annual installments on the first anniversary date of the grant (August 15, 2024) and the second anniversary date of the grant (August 15, 2025) and the third anniversary date of the grant (August 15, 2026) |
| 03/28/2024 | Reporting person was granted an award of restricted stock units (RSUs) under the Citizens, Inc. Omnibus Incentive Plan for 2023 pay-for-performance. The RSUs vest in three equal annual installments on the first anniversary of the date of the grant (March 28, 2025) and the second anniversary of the date of the grant (March 28, 2026) and the third anniversary of the date of the grant (March 28, 2027). |
| 03/28/2024 | Reporting person was granted an award of RSUs under the Citizens, Inc. Omnibus Incentive Plan for the 2024 long-term incentive. The RSUs vest in three equal annual installments on the first anniversary of the date of the grant (March 28, 2025) and the second anniversary of the date of the grant (March 28, 2026) and the third anniversary of the date of the grant (March 28, 2027). |
| 03/31/2025 | Reporting person was granted an award of RSUs under the Citizens, Inc. Omnibus Incentive Plan for the 2025 long-term incentive. The RSUs vest in three equal annual installments on the first anniversary of the date of the grant (March 31, 2026) an dthe second anniversary of the date of the grant (March 31, 2027) and the third anniversary of the date of the grant (March 31, 2028). |
| 07/15/2025 | Date of transaction: vesting of restricted stock units and disposition of shares for tax obligations. |
| 07/17/2025 | Date of Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Restricted Stock Units, Class A Common Stock, Citizens, Inc., Bryon Matthew Lewis, Executive Compensation, Stock Vesting, Tax Obligations
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