Form 4: Palomar Holdings CEO Mac Armstrong Reports Stock Transactions

CEO Mac Armstrong reports acquisition and disposal of Palomar Holdings stock, including transactions related to restricted stock units and employee stock purchase plan.

Summary

• Mac Armstrong, CEO and Chairman of Palomar Holdings, Inc., filed a Form 4 detailing changes in beneficial ownership.
• On January 29, 2025, Armstrong acquired 4,787 shares of common stock through the vesting of Restricted Stock Units (RSUs).
• Also on January 29, 2025, Armstrong sold 2,444 shares to cover tax withholding obligations related to the RSU vesting at a price of $108.34 per share.
• Armstrong also acquired 17,156 RSUs on January 29, 2025, which will vest in three equal installments annually.
• Armstrong directly owns 64,982 shares of common stock and indirectly owns 412,388 shares through the Armstrong Family Trust.
• He also directly owns 9,573 RSUs and 17,156 newly acquired RSUs.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of stock transactions by a company executive, with no inherent positive or negative sentiment.

Future Outlook

The newly granted RSUs will vest over the next three years, subject to continuing service with the company.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track management's alignment with shareholder interests.

Stakeholder Impact

• The transactions provide transparency to shareholders regarding executive compensation and stock ownership.

Key Dates