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

Palomar Holdings, Inc. CEO and Chairman Mac Armstrong reported sales of company common stock totaling 5,000 shares under a pre-arranged 10b5-1 trading plan.

Summary

• Mac Armstrong, CEO and Chairman of Palomar Holdings, Inc. (PLMR), reported transactions involving company common stock on January 21, 2026.
• The transactions were executed under a Rule 10b5-1(c) trading plan, indicating pre-scheduled sales.
• Armstrong sold a total of 5,000 shares of common stock indirectly held by the Armstrong Family Trust.
• The sales occurred at weighted average prices ranging from $127.8419 to $130.2893 per share.
• Armstrong also acquired 2,652 shares directly through the Palomar Holdings, Inc. 2019 Employee Stock Purchase Plan (ESPP).
• Following these transactions, Armstrong directly owns 80,314 shares and indirectly owns 348,388 shares through the Armstrong Family Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While there is insider selling, it is conducted under a pre-arranged 10b5-1 plan, which mitigates the negative signal often associated with opportunistic insider sales. The simultaneous purchase through an ESPP also balances the perception.

Positives

• The transactions were made pursuant to a Rule 10b5-1(c) plan, indicating pre-scheduled sales rather than opportunistic selling.
• The CEO acquired 2,652 shares through the Employee Stock Purchase Plan, demonstrating continued participation in employee ownership programs.

Negatives

• The CEO sold a total of 5,000 shares of common stock, which represents a reduction in indirect beneficial ownership.

Risks

• Insider selling, even under a 10b5-1 plan, can sometimes be perceived negatively by investors, potentially signaling a lack of confidence or a desire to diversify holdings.

Future Outlook

NA

Management Comments

• The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $127.18 to $128.17 (weighted average of $127.8419), inclusive, $128.24 to $129.15 (weighted average of $128.6661), $129.24 to $130.21 (weighted average of $129.7523), and $130.26 to $130.29 (weighted average of $130.2893).
• The Reporting Person undertakes to provide to Palomar Holdings, Inc., any security holder of Palomar Holdings, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.

Industry Context

This Form 4 filing is a routine disclosure of insider trading activity and does not provide specific information related to broader industry trends or competitive landscape. Insider transactions are common across all industries, and the use of a 10b5-1 plan is a standard practice for executives to manage personal finances while complying with insider trading regulations.

Stakeholder Impact

• Shareholders: May view the insider selling with caution, although the 10b5-1 plan context and ESPP purchase may temper concerns.

Key Dates

Keywords

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