CITIZENS, INC. 10-K

Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Item 5(a) Market Information. Our Class A common stock is traded on the New York Stock Exchange ("NYSE") under the symbol CIA. Our Class B common stock is not registered with the SEC nor traded on any exchange. We hold 100% of our Class B common stock in treasury and thus there are no Class B shares outstanding. Holders. The number of stockholders of record as of March 6, 2024 was as follows: • Class A Common Stock - 84,212 • Class B Common Stock - — Dividend Policy. We have never paid cash dividends on our Class A or B common stock and do not expect to pay cash dividends in the foreseeable future, as it is our policy to retain earnings for use in the operation and expansion of our business. Securities Authorized for Issuance Under Equity Compensation Plans. See Item 15, Note 13 Stock Compensation for equity compensation plan information. Recent Sales of Unregistered Securities; Use of Proceeds. None. Item 5(c) Issuer Purchases of Equity Securities. In May 2022, the Board of Directors authorized an equity repurchase plan for up to $8.0 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 December 31, 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] October 2023 66,805 $ 2.99 66,805 November 2023 — — — December 2023 — — — Total 66,805 66,805 $ 4,380,000 [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 December 31, 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 6. [ RESERVED] December 31, 2023 | 10-K 26 Table of Contents CITIZENS, INC.