Jon Stenberg appointed President of Citizens; named CEO effective July 1, 2024

CITIZENS, INC.

Jon Stenberg appointed President effective March 18, 2024; to become CEO on July 1, 2024, succeeding Gerald Shields.
Stenberg brings 30+ years experience; previously EVP at Symetra Life Insurance and GM at Ameriprise Financial.
Employment agreement: base salary $450k (President) and $500k (CEO); annual bonus target $350k/$400k; LTI target $350k/$450k.
Sign-on RSUs of $300k vesting over 3 years; relocation benefits up to $100k+ grossed up.
Press release highlights no debt, positive net cash from operations since 2004, and AM Best rating for CICA Life.

item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Jon Stenberg

President

CIA · CITIZENS, INC.

Effective: 2024-03-18
Filed: March 18, 2024, 7:59 PM ET

On March 18, 2024, the Company announced that Jon Stenberg, age 58, has been appointed as President of the Company, reporting to Mr. Shields, until June 30, 2024

Appointed

Jon Stenberg

Chief Executive Officer

CIA · CITIZENS, INC.

Effective: 2024-07-01
Filed: March 18, 2024, 7:59 PM ET

and will become the Chief Executive Officer on July 1, 2024

Departed

Gerald W. Shields

Chief Executive Officer

CIA · CITIZENS, INC.

Effective: 2024-06-30
Successor: Jon Stenberg
Filed: March 18, 2024, 7:59 PM ET

extended Mr. Shields’ term as Chief Executive Officer to June 30, 2024 in order to facilitate a smooth transition to a new Chief Executive Officer

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jon Stenberg was appointed as President at CITIZENS, INC..

Action: appointed
Role: President

Exact text from the filing

On March 18, 2024, the Company announced that Jon Stenberg, age 58, has been appointed as President of the Company, reporting to Mr. Shields, until June 30, 2024

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jon Stenberg was appointed as Chief Executive Officer at CITIZENS, INC..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

and will become the Chief Executive Officer on July 1, 2024

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.85

Gerald W. Shields departed as Chief Executive Officer at CITIZENS, INC..

Action: departed
Role: Chief Executive Officer

Exact text from the filing

extended Mr. Shields’ term as Chief Executive Officer to June 30, 2024 in order to facilitate a smooth transition to a new Chief Executive Officer

View on SEC.gov

CITIZENS, INC. filing history →

Source: SEC EDGAR

accession 0000024090-24-000036

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