CITIZENS, INC. 10-Q

Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS Issuer Purchases of Equity Securities In May 2022, the Board of Directors authorized an equity repurchase plan for $8 million. The timing of any share repurchases under the repurchase authorization is dependent upon several factors, including market price of the Company's securities, the Company’s cash on hand, cash flows from operations, general market conditions, the Company's blackout periods, and other considerations. This program has no set termination date and may be suspended or discontinued by the Company’s Board of Directors at any time. The Company purchased the following shares of its Class A common stock during the three months ended June 30, 2023. Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs [2] April 2023 — $ — — May 2023 147,097 2.1202 147,097 June 2023 178,327 2.3214 178,327 Total 325,424 325,424 $ 4,580,000 [1] The stock repurchase program was publicly announced on May 10, 2022. [2] The Company was authorized to repurchase up to $8.0 million of its outstanding shares of Class A common stock. [3] The stock repurchase program does not have an expiration date. [4] No stock repurchase program has expired during the three months ended June 30, 2023. [5] There is no stock repurchase program that the Company has determined to terminate prior to expiration, or under which the Company does not intend to make further purchases. Item 3 . DEFAULTS UPON SENIOR SECURITIES Not applicable. Item 4. MINE SAFETY DISCLOSURES Not applicable. June 30, 2023 | 10-Q 63 Table of Contents CITIZENS, INC.