---
schema_version: "secwatch.filing_event.v1"
accession: "0000024090-23-000115"
form_type: "8-K"
ticker: "CIA"
cik: "0000024090"
company_name: "CITIZENS, INC."
filed_at: "2023-11-15T23:59:59+00:00"
generated_at: "2026-06-08T02:50:27.740906+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Citizens extends CEO Gerald Shields' term to June 30, 2024 as board searches for successor

## Summary
- Employment Agreement extended from Dec 31, 2023 to June 30, 2024 to allow CEO search and smooth transition.
- Base salary of $400,000 for the 6-month Extended Term.
- Eligible for up to $300,000 cash bonus and $125,000 RSUs (based on 2024 pay-for-performance goals).
- All unvested RSUs from initial term vest at end of Extended Term; any new RSUs vest March 31, 2025.
- Board is actively searching for a successor; Shields will assist transition.

## SEC filing metadata
- accession: 0000024090-23-000115
- form_type: 8-K
- ticker: CIA
- cik: 0000024090
- company_name: CITIZENS, INC.
- filed_at: 2023-11-15T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/24090/000002409023000115/0000024090-23-000115-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/24090/000002409023000115/cia-20231109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000024090-23-000115
- JSON: https://secwatch.observer/filing/0000024090-23-000115.json
- Plain text: https://secwatch.observer/filing/0000024090-23-000115.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.