Form 4: Palomar CEO Sells Shares Under 10b5-1 Plan

Palomar Holdings CEO Mac Armstrong sold a total of 5,000 shares of common stock on October 21, 2025, through an indirect holding, under a Rule 10b5-1 trading plan.

Summary

• Mac Armstrong, CEO and Chairman of Palomar Holdings, Inc. (PLMR), reported transactions on October 21, 2025.
• A total of 5,000 shares of common stock were sold indirectly through the Armstrong Family Trust.
• These sales were executed under a pre-arranged Rule 10b5-1(c) trading plan.
• The sales occurred in three separate transactions at weighted average prices of $113.10 (63 shares), $114.9364 (2,037 shares), and $115.6152 (2,900 shares).
• Following these transactions, Mr. Armstrong's indirect beneficial ownership through the Armstrong Family Trust is 367,388 shares.
• His direct beneficial ownership is 76,374 shares, which includes 2,652 shares purchased through the Palomar Holdings, Inc. 2019 Employee Stock Purchase Plan (ESPP).

Sentiment

Score: 5

Explanation: The filing reports insider sales by the CEO, which can sometimes be perceived negatively. However, the sales were conducted under a Rule 10b5-1 plan, indicating they were pre-scheduled and not necessarily a reaction to new information, thus mitigating the negative sentiment to a neutral level.

Positives

• The transactions were conducted under a Rule 10b5-1 plan, indicating they were pre-scheduled and not a reaction to immediate company performance or market conditions.
• Direct ownership includes 2,652 shares purchased via the Employee Stock Purchase Plan, demonstrating continued employee investment in the company.

Negatives

• Insider selling by a CEO, even under a 10b5-1 plan, can sometimes be perceived negatively by investors, though the pre-scheduled nature mitigates this concern.

Related Party Transactions

• Sales of common stock were made indirectly through the Armstrong Family Trust, which is a related party to the reporting person.

Stakeholder Impact

• Shareholders may observe insider selling, but the pre-arranged nature of the Rule 10b5-1 plan suggests these transactions are routine and not based on new, undisclosed negative information about the company.

Key Dates

Recommendation

The filing details routine insider sales by the CEO under a pre-arranged 10b5-1 plan. This type of transaction is generally not indicative of a change in the company's fundamental outlook or a signal for immediate action. While insider selling can sometimes be a bearish signal, the pre-scheduled nature mitigates this concern. There is no new information in this Form 4 to warrant a change from a 'hold' position, assuming the investor's existing thesis on Palomar Holdings remains unchanged.

Keywords

Palomar Holdings, PLMR, insider trading, Form 4, stock sale, CEO, Mac Armstrong, 10b5-1 plan, common stock