Form 4: Palomar CEO's Stock Activity: RSU Vesting & Tax Sale

Palomar Holdings CEO Mac Armstrong reported the vesting of restricted stock units and a subsequent sale to cover tax obligations, alongside an employee stock purchase plan acquisition.

Summary

• Mac Armstrong, CEO and Chairman of Palomar Holdings, Inc. (PLMR), reported transactions on October 15, 2025.
• 6,250 Restricted Stock Units (RSUs) vested, acquired at a price of $0.00 per share.
• 3,218 shares were automatically sold at $116.1042 per share to cover minimum statutory tax withholding obligations related to the RSU vesting event.
• 2,652 shares were purchased pursuant to the Palomar Holdings, Inc. 2019 Employee Stock Purchase Plan (ESPP).
• Following these transactions, Armstrong directly owns 76,374 shares of common stock and indirectly owns 372,388 shares through the Armstrong Family Trust.
• He also holds 18,750 unvested Restricted Stock Units.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions, including RSU vesting, a mandatory tax-related sale, and an ESPP purchase, which are standard events for executives with equity compensation.

Positives

• The vesting of 6,250 Restricted Stock Units (RSUs) indicates continued compensation and retention of the CEO.
• The purchase of 2,652 shares through the Employee Stock Purchase Plan (ESPP) demonstrates ongoing investment by the CEO in the company.

Negatives

• The sale of 3,218 shares, although mandatory for tax withholding, represents a reduction in direct beneficial ownership.

Future Outlook

The original RSU grant of 125,000 shares on July 15, 2021, is subject to a vesting schedule where 6,250 shares vest on a quarterly basis after the third anniversary of the grant date, until fully vested.

Industry Context

This filing reports routine insider transactions for an executive's equity compensation and does not provide information related to broader industry trends or competitive landscape.

Related Party Transactions

• Mac Armstrong's indirect beneficial ownership of 372,388 shares through the Armstrong Family Trust is noted.

Stakeholder Impact

• Shareholders: The reported transactions are routine insider activities and are unlikely to have a significant direct impact on the company's valuation or operational outlook.
• Employees: The Employee Stock Purchase Plan (ESPP) purchase indicates continued participation in employee stock plans, which can be a positive signal for employee alignment.

Next Steps

• Continued quarterly vesting of 6,250 RSUs until the original 125,000 shares are fully vested, subject to the Reporting Person's continuing service with the Company.

Key Dates

Keywords

Palomar Holdings, PLMR, Form 4, Insider Transaction, RSU Vesting, Employee Stock Purchase Plan, CEO Stock Activity, Mac Armstrong