Form 4: Palomar CRO Knutzen Reports RSU Vesting, Tax Sales

Palomar Holdings' Chief Risk Officer, Jonathan Knutzen, reported the vesting of restricted stock units and subsequent sales to cover tax obligations.

Summary

• Jonathan Knutzen, Chief Risk Officer of Palomar Holdings, Inc. (PLMR), reported multiple transactions involving Restricted Stock Units (RSUs).
• On January 29, 2025, 1,230 shares of Common Stock from RSUs vested, followed by the disposition of 381 shares at $122.042 to cover tax withholding obligations.
• On January 29, 2026, 1,434 shares of Common Stock from RSUs vested, followed by the disposition of 444 shares at $122.0428 to cover tax withholding obligations.
• On January 31, 2026, 890 shares of Common Stock from RSUs vested, followed by the disposition of 290 shares at $121.7435 to cover tax withholding obligations.
• Following these transactions, Knutzen beneficially owns 27,248 shares of Common Stock directly.
• The reported beneficial ownership also includes 1,386 shares purchased pursuant to the Palomar Holdings, Inc. 2019 Employee Stock Purchase Plan (ESPP).
• Remaining derivative securities include 1,231 Restricted Stock Units (RSUs) from an original grant on January 29, 2024, and 2,868 Restricted Stock Units (RSUs) from an original grant on January 29, 2025.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. The transactions are routine RSU vesting and mandatory tax-related sales, which do not indicate a change in company fundamentals or management's discretionary sentiment towards the stock.

Positives

• The vesting of Restricted Stock Units (RSUs) represents earned compensation for the Chief Risk Officer, reflecting continued service to the company.
• The inclusion of 1,386 shares purchased through the Employee Stock Purchase Plan (ESPP) indicates ongoing investment by the officer in the company's equity.

Negatives

• The disposition of shares, totaling 1,115 shares across three dates, reduces the officer's direct equity stake in the company, although these sales were mandatory to cover tax obligations.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider transaction filings like Form 4 provide transparency into executive compensation and ownership changes, which can be a signal for investor sentiment, though these specific transactions are routine for RSU vesting and mandatory tax-related sales.

Stakeholder Impact

• Shareholders: Provides transparency into executive compensation and routine equity transactions, but is unlikely to have a significant direct impact on share price or company strategy.
• Employees: Reflects standard equity compensation practices for executives, which may be part of broader employee incentive programs.

Next Steps

• Future vesting of the remaining one-third portions of the RSU grants from January 29, 2024, and January 29, 2025, subject to continuing service with the company.

Key Dates

Keywords

Palomar Holdings, PLMR, Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Chief Risk Officer, Equity Compensation, Stock Sale, Tax Withholding