Form 4: Palomar Holdings President Exercises, Sells Stock

Palomar Holdings President Jon Christianson exercised stock options and subsequently sold shares on December 23, 2025, as part of a Rule 10b5-1 plan.

Summary

• Jon Christianson, President of Palomar Holdings, Inc. (PLMR), reported multiple transactions on December 23, 2025, under a Rule 10b5-1(c) plan.
• He exercised employee stock options to acquire a total of 1,691 shares of common stock at various prices: 1,291 shares at $98.95, 100 shares at $49.53, 100 shares at $97.87, and 200 shares at $87.51.
• Concurrently, he disposed of a total of 1,691 shares of common stock at a price of $139.5 per share.
• Following these transactions, Christianson's direct beneficial ownership of common stock decreased by 1,291 shares, from an initial reported 60,922 shares to 59,631 shares.
• The reported beneficial ownership includes 2,410 shares purchased through the Palomar Holdings, Inc. 2019 Employee Stock Purchase Plan (ESPP).

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions (exercise of options and subsequent sale of shares) executed under a pre-planned Rule 10b5-1 program. This is a common event for executives and does not inherently indicate a positive or negative sentiment towards the company's future prospects.

Positives

• The transactions were executed under a Rule 10b5-1(c) plan, indicating a pre-arranged and systematic approach to stock sales, which can mitigate concerns about opportunistic insider trading.
• The reporting person realized a gain by selling shares at a market price of $139.5, which was significantly higher than the exercise prices of the options ($98.95, $49.53, $97.87, $87.51).

Negatives

• The net effect of the reported transactions was a decrease in the President's direct beneficial ownership of common stock by 1,291 shares, which some investors might interpret as a reduction in insider alignment, although it is a common practice for executives to diversify holdings or cover tax obligations.

Future Outlook

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

Industry Context

NA

Stakeholder Impact

• Shareholders: The net decrease in the President's direct beneficial ownership of common stock by 1,291 shares might be noted by investors, though it's a routine liquidity event for executives.
• Employees: The filing highlights the existence and utilization of employee stock options and an Employee Stock Purchase Plan (ESPP) as part of executive compensation.

Next Steps

• Remaining employee stock options (2,434 shares with $49.53 exercise price, 1,678 shares with $97.87 exercise price, and 12,675 shares with $87.51 exercise price) are subject to vesting schedules, with 25% vesting on the first year anniversary of the Grant Date/Vesting Base Date, and the remainder vesting in equal monthly installments over the subsequent twenty-four or thirty-six month periods, contingent on continuing service with the company.

Key Dates

Keywords

Palomar Holdings, PLMR, Insider Trading, Form 4, Stock Options, Executive Compensation, Rule 10b5-1, Share Sale, Beneficial Ownership