Citizens, Inc. Reports Director Departure

TL;DR

Citizens Inc director David Miller out, filing includes financial docs.

AI Summary

Citizens, Inc. announced on March 18, 2024, the departure of Director David M. Miller. The company also reported on compensatory arrangements for certain officers and filed financial statements and exhibits. No specific dollar amounts or new appointments were detailed in the provided text.

Why It Matters

The departure of a director can signal changes in company strategy or governance, potentially impacting investor confidence.

Risk Assessment

Risk Level: low — The filing primarily reports a director's departure and standard financial disclosures, with no immediate negative financial implications.

Key Players & Entities

• Citizens, Inc. (company) — Registrant
• David M. Miller (person) — Departing Director
• March 18, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $450,000 — year renewal provisions. Base Salary. $450,000 per year while serving as President. $
• $500,000 — 0 per year while serving as President. $500,000 per year while serving as Chief Executi
• $350,000 — r the Annual Bonus Opportunity shall be $350,000. 2. While he is serving as Chief Execu
• $400,000 — r the Annual Bonus Opportunity shall be $400,000. In each case, the amount of the Annu
• $300,000 — n Bonus. Grant of RSUs in the amount of $300,000, vesting over 3 years in equal 1/3 incr
• $35,000 — ment, including reimbursement for up to $35,000 of closing costs, up to $5,000 per mont
• $5,000 — r up to $35,000 of closing costs, up to $5,000 per month for temporary housing for up
• $50,000 — up to 6 months, reimbursement for up to $50,000 for moving expenses and a $10,000 lump
• $10,000 — up to $50,000 for moving expenses and a $10,000 lump sum for miscellaneous relocation e

Filing Documents

• cia-20240318.htm (8-K) — 39KB
• exhibit101-jstenbergagreem.htm (EX-10.1) — 145KB
• exhibit991-jstenberg.htm (EX-99.1) — 12KB
• cia-20240318_g1.jpg (GRAPHIC) — 34KB
• image_1a.jpg (GRAPHIC) — 10KB
• jstenbergimage_0a.jpg (GRAPHIC) — 3KB
• 0000024090-24-000036.txt ( ) — 464KB
• cia-20240318.xsd (EX-101.SCH) — 2KB
• cia-20240318_def.xml (EX-101.DEF) — 14KB
• cia-20240318_lab.xml (EX-101.LAB) — 25KB
• cia-20240318_pre.xml (EX-101.PRE) — 15KB
• cia-20240318_htm.xml (XML) — 3KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On March 18, 2024, the Company issued a press release announcing the appointment of Jon Stenberg as the Company's President. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1. The information in this Item 7.01 is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall the information be deemed incorporated by reference in any filing with the Securities and Exchange Commission (the "SEC") made by Citizens under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits 10.1 Executive Employment Agreement, effective March 18, 2024, by and between Citizens, Inc. and Jon Stenberg. 99.1 Citizens, Inc. press release, dated March 18, 2024 104 Inline XBRL for the cover page of this Current Report on Form 8-K SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CITIZENS, INC. By: /s/ Sheryl Kinlaw Vice President and Chief Legal Officer Date: March 18, 2024

View Full Filing

View this 8-K filing on SEC EDGAR