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

Palomar Holdings CEO and Chairman Mac Armstrong sold 5,000 shares of common stock on November 21, 2025, through a pre-arranged trading plan.

Summary

• Mac Armstrong, the CEO and Chairman of Palomar Holdings, Inc. (PLMR), reported the sale of 5,000 shares of the company's common stock.
• The transactions occurred on November 21, 2025, and were executed under a Rule 10b5-1 pre-arranged trading plan.
• The shares were sold in four separate transactions at weighted average prices ranging from $120.3434 to $123.9782 per share.
• Specifically, 300 shares were sold at $120.3434, 700 shares at $121.867, 3,124 shares at $123.0141, and 876 shares at $123.9782.
• Following these sales, Armstrong beneficially owns 358,388 shares indirectly through the Armstrong Family Trust.
• The reported beneficial ownership includes 2,652 shares previously purchased pursuant to the Palomar Holdings, Inc. 2019 Employee Stock Purchase Plan (ESPP).

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to insider selling by a key executive, but this is mitigated by the fact that the sales were conducted under a pre-arranged 10b5-1 trading plan, which suggests a planned rather than reactive disposition of shares.

Positives

• The sales were conducted under a Rule 10b5-1 trading plan, indicating pre-scheduled transactions rather than a reaction to recent events or material non-public information.

Negatives

• Insider selling by a key executive (CEO and Chairman) can sometimes be perceived negatively by the market, potentially signaling a lack of confidence, even when executed under a 10b5-1 plan.

Risks

• Potential for negative market sentiment if investors interpret the insider sale as a lack of confidence, despite the execution under a Rule 10b5-1 plan.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This insider transaction report reflects a routine disclosure of stock sales by a company executive and does not inherently provide broader industry context or trends. Such sales are common for executives for personal financial planning, diversification, or liquidity purposes.

Corporate Governance

Related Party Transactions

• The shares sold were held indirectly by the Armstrong Family Trust, which is considered a related party to Mac Armstrong.

Stakeholder Impact

• Shareholders may interpret the insider sale as a signal, potentially leading to minor shifts in investor confidence, though the 10b5-1 plan helps to temper negative interpretations.

Key Dates

Recommendation

While insider selling by a CEO can sometimes be a bearish signal, the execution of these sales under a Rule 10b5-1 plan suggests a pre-scheduled transaction for personal financial management rather than a reaction to new negative company developments. Without additional context or a pattern of significant insider selling, this single Form 4 filing does not warrant a strong buy or sell recommendation, thus a 'hold' is appropriate for existing investors to monitor future developments.

Keywords

Palomar Holdings, PLMR, Mac Armstrong, Insider Trading, Form 4, Stock Sale, CEO, Chairman, 10b5-1 Plan