Form 4: Palomar Holdings CEO Sells $681K in Pre-Planned Stock

Palomar Holdings CEO Mac Armstrong reported pre-planned sales of 5,000 shares of common stock totaling approximately $681,344, while also acquiring shares through an employee plan.

Summary

• Mac Armstrong, CEO and Chairman of Palomar Holdings, Inc., reported changes in his beneficial ownership.
• He acquired 2,652 shares of common stock through the Palomar Holdings, Inc. 2019 Employee Stock Purchase Plan (ESPP).
• The Armstrong Family Trust, an indirect holding associated with Mac Armstrong, sold a total of 5,000 shares of Palomar Holdings common stock on December 22, 2025.
• The sales were executed in multiple transactions at weighted average prices ranging from $135.0375 to $137.64 per share.
• The total value of the shares sold by the Armstrong Family Trust was approximately $681,343.93.
• These transactions were conducted pursuant to a Rule 10b5-1 trading plan, indicating they were pre-scheduled.
• Following these transactions, Mac Armstrong directly owns 76,374 shares and indirectly owns 353,388 shares through the Armstrong Family Trust.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While a significant insider sale occurred, it was pre-planned under a Rule 10b5-1 plan, mitigating concerns of opportunistic selling. The CEO also acquired shares through an ESPP, demonstrating continued commitment. The overall ownership remains substantial.

Positives

• Acquisition of 2,652 shares through the Employee Stock Purchase Plan (ESPP) indicates continued participation and belief in the company's value by the CEO.
• The sales were conducted under a Rule 10b5-1 plan, suggesting they were pre-planned for diversification or liquidity purposes rather than a reaction to negative company-specific news.

Negatives

• The sale of 5,000 shares by the Armstrong Family Trust represents a reduction in the CEO's indirect beneficial ownership, which could be perceived as a slight decrease in insider alignment, although mitigated by the 10b5-1 plan.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Sale of 5,000 shares of common stock by the Armstrong Family Trust, an entity indirectly controlled by CEO Mac Armstrong, for approximately $681,343.93. These transactions were executed under a Rule 10b5-1 trading plan.

Stakeholder Impact

• Shareholders: The sale by a key executive, even if pre-planned, might be viewed with slight caution, but the Rule 10b5-1 plan and continued significant ownership should temper negative interpretations. The ESPP purchase is a positive signal of continued insider investment.

Key Dates

Recommendation

The filing reports routine insider transactions, including both sales under a pre-planned 10b5-1 program and purchases via an employee stock plan. These actions do not suggest a significant change in the company's fundamental outlook or the CEO's long-term commitment, thus a 'hold' recommendation is appropriate as there's no new information to warrant a change in investment thesis.

Keywords

Palomar Holdings, PLMR, Mac Armstrong, Insider Trading, Form 4, Stock Sale, ESPP, Rule 10b5-1, CEO, Director, Common Stock