Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 5, 2026, the Board of Directors (the “Board”) of Citizens, Inc. (“Citizens” or the “Company”) approved an amendment (the “Amendment”) to the Executive Employment Agreement (the “Employment Agreement”), by and between the Company and Jon Stenberg, the Company’s Chief Executive Officer. The Amendment is intended to better align Mr. Stenberg's compensation with peer group and market compensation data in order for retention and motivation purposes. The Amendment provides for the following changes to Mr. Stenberg's compensation: Base Salary: Effective April 1, 2026, the Base Salary shall be increased from $500,000 to $600,000. Short-Term Incentive : The target bonus for the Annual Bonus Opportunity beginning in 2026 shall be increased from $400,000 to $480,000. Long-Term Incentive : The target bonus for the LTI beginning in 2026 shall be increased from $450,000 to $540,000. All other terms of the Employment Agreement remain in full force and effect. The foregoing description is not a complete description of the Amendment and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached hereto as Exhibit 10.1 and incorporated by reference in this Item 5.02.
CIA Citizens, Inc. - 8-K
Accession
0000024090-26-0000055.029.01
Item 5.02 - Departure/Election of Directors or Certain Officers
211 words
Item 9.01 - Financial Statements and Exhibits
41 words
Item 9.01 Financial Statements and Exhibits (d) Exhibits 10.1 Amendment, dated March 5, 2026, to Executive Employment Agreement by and between Citizens, Inc. a nd Jon Stenberg. 104 Inline XBRL for the cover page of this Current Report on Form 8-K