CITIZENS, INC.

Overview

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• TickerCIA on NYSE¹
• IndustryLife Insurance¹
• HeadquartersAustin, Texas¹
• Incorporated inCO²
• Business address11815 Alterra Pkwy, Suite 1500, Austin, Tx 78758²
• Filer categoryAccelerated filer²

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Incorporated in Colorado and based in Austin, Texas, Citizens, Inc. ("Citizens" or the "Company") is an insurance holding company. Since 1969 it has addressed the life insurance needs of people in the United States, and since 1975, it has extended life insurance offerings to clients worldwide. Through our international insurance subsidiary, we provide insurance benefits to residents in over 80 different countries, and through our domestic insurance subsidiaries, we are licensed to issue insurance products in 43 U.S. states. We pursue a strategy of offering insurance products in niche markets where we believe we are able to achieve competitive advantages. We had approximately $1.8 billion of assets and over $5.4 billion of direct insurance in force at December 31, 2025.⁴ From its latest annual report

Corporate structure

CITIZENS, INC. sits at the top of its group. 9 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What CITIZENS, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Investments

Properties, in its own words

We lease our principal office at the Domain in Austin, Texas. We also lease space in Puerto Rico for CICA International and offices in Louisiana, Arkansas and Mississippi related to our SPLIC operations. We also own a small amount of property in Louisiana.

Item 2 of the 10-K filed Mar 12, 2026.⁴

Leadership

Who has led CITIZENS, INC., and when. Pick a name to see everywhere that person has worked.

• Chief executive officerJon Stenberg Jul 12, 2024 to now¹³
• Chief executive officerGerald Shields Jun 4, 2021 to Apr 2, 2024¹⁴
• Chief executive officerGeoffrey Martin Kolander Feb 20, 2018 to Aug 7, 2020¹⁵
• Chief executive officerHarold E. Riley Feb 13, 2008 to Jan 15, 2015¹⁶
• Chief executive officerRick D. Riley Aug 20, 2003 to May 19, 2016¹⁷
• ChairRick D. Riley Feb 4, 2016 to May 19, 2016¹⁸
• ChairHarold E. Riley Feb 13, 2004 to Aug 24, 2015¹⁹
• PresidentJon Stenberg Mar 19, 2024 to now²⁰
• PresidentGerald Shields Jun 4, 2021 to Apr 2, 2024¹⁴
• PresidentKay E. Osbourn Jan 19, 2016 to Jan 19, 2017²¹
• PresidentRick D. Riley Oct 1, 2007 to Jan 16, 2015²²
• PresidentMark A. Oliver Jan 30, 2004 to Feb 28, 2007²³
• Chief financial officerJeffery P. Conklin Feb 4, 2020 to now²⁴
• Chief financial officerGregory A. Rooney Oct 20, 2015 to Oct 20, 2015²⁵
• Chief financial officerDavid S. Jorgensen Nov 23, 2015 to Jan 19, 2017²⁶
• Chief financial officerKay E. Osbourn Jan 11, 2011 to Apr 22, 2019²⁷
• Chief financial officerThomas Frank Kopetic Feb 13, 2008 to Jan 15, 2009²⁸
• Chief financial officerLarry E. Carson Feb 12, 2007 to Feb 12, 2007²⁹
• Chief operating officerTerry B. Festervand Feb 10, 2017 to Feb 20, 2018³⁰
• Chief operating officerRay A. Riley Feb 14, 2005 to Feb 18, 2005³¹

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

• CICA Life Insurance Company of America Colorado³
• CICA Life Ltd. Bermuda³
• CICA Life, A.I. Puerto Rico³
• Computing Technology, Inc. Colorado³
• Magnolia Guaranty Life Insurance Company Mississippi³
• Nexo Enrollment Services, LLC Puerto Rico³
• Nexo Global Services, LLC Puerto Rico³
• Security Plan Life Insurance Company Louisiana³

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

• CITIZENS INCDec 5, 1995 to Jun 5, 2019²

Timeline

1. Oct 9, 20268-K Entered a material agreement⁹¹
2. Aug 6, 20268-K Results of operations⁹²
3. Jun 18, 20268-K Shareholder vote⁹³
4. May 7, 20268-K Results of operations⁹⁴
5. Mar 12, 20268-K Results of operations⁹⁵
6. Mar 10, 20268-K Executive or director change⁹⁶
7. Nov 7, 20258-K Results of operations; Executive or director change⁹⁷
8. Aug 7, 20258-K Results of operations⁹⁸
9. Jun 20, 20258-K Shareholder vote⁹⁹
10. May 8, 20258-K Results of operations¹⁰⁰
11. Apr 11, 20258-K Executive or director change¹⁰¹
12. Mar 13, 20258-K Results of operations¹⁰²
13. Jul 12, 2024New chief executive Jon Stenberg becomes CEO¹³
14. Jun 4, 2021New chief executive Gerald Shields becomes CEO¹⁴
15. Feb 20, 2018New chief executive Geoffrey Martin Kolander becomes CEO¹⁵
16. Feb 13, 2008New chief executive Harold E. Riley becomes CEO¹⁶
17. Aug 20, 2003New chief executive Rick D. Riley becomes CEO¹⁷

Calendar

Coming up

1. Nov 5, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.07 a share, on Nov 6, 2025.¹⁰³

When it reported results

1. Aug 6, 2026Reported quarterly or annual results⁹²
2. May 7, 2026Reported quarterly or annual results⁹⁴
3. Mar 12, 2026Reported quarterly or annual results⁹⁵
4. Nov 7, 2025Reported quarterly or annual results⁹⁷
5. Aug 7, 2025Reported quarterly or annual results⁹⁸
6. May 8, 2025Reported quarterly or annual results¹⁰⁰
7. Mar 13, 2025Reported quarterly or annual results¹⁰²
8. Nov 7, 2024Reported quarterly or annual results¹⁰⁴

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

298 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 36 major events, 209 insider forms, 5 large holders, 28 other. The latest 20:

1. Oct 9, 20268-K EDGAR
2. Sep 1, 20264 EDGAR
3. Aug 18, 20264 EDGAR
4. Aug 18, 20264 EDGAR
5. Aug 13, 20264 EDGAR
6. Aug 12, 20264 EDGAR
7. Aug 11, 20264 EDGAR
8. Aug 6, 202610-Q EDGAR
9. Aug 6, 20268-K EDGAR
10. Jul 27, 2026SCHEDULE 13G/A EDGAR
11. Jul 16, 20264 EDGAR
12. Jun 22, 20264 EDGAR
13. Jun 22, 20263 EDGAR
14. Jun 22, 20264 EDGAR
15. Jun 22, 20264 EDGAR
16. Jun 22, 20264 EDGAR
17. Jun 22, 20264 EDGAR
18. Jun 22, 20264 EDGAR
19. Jun 18, 20268-K EDGAR
20. Jun 17, 2026S-8 EDGAR

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

46 open-market trades by officers, directors and large owners since October 2021: 45 buys and 1 sales. Grants, option exercises and gifts are left out.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

• BlackRockSCHEDULE 13G/A, 4 filings Feb 1, 2022 to Jul 27, 2026¹⁰⁵
• CONTINENTAL GENERAL INSURANCE COSCHEDULE 13G, 1 filing Mar 25, 2026¹⁰⁶

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 75. Change is in shares since the quarter before.

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How CITIZENS, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

• Name on EDGARCITIZENS, INC.¹
• CIK0000024090
• Employer ID (EIN)84-0755371⁴
• Filer statusAccelerated filer not an emerging growth company; a smaller reporting company; not a shell company⁴
• Incorporated inColorado⁴
• Fiscal year endsDecember 31¹
• Industry code (SIC)6311 Life Insurance¹
• SEC reviewing officeOffice of Finance, Division of Corporation Finance¹
• Business address11815 Alterra Pkwy, Suite 1500, Austin, TX 78758¹
• Mailing addressP O Box 149151, Austin, TX 78714¹
• Phone5128377100¹
• Shares outstanding50,643,108 as of Jul 31, 2026¹⁰
• Public float$168.5M as of Jun 30, 2025⁴
• AuditorGRANT THORNTON LLP, Fort Lauderdale, Florida PCAOB ID 248; it also attests to the company’s internal control over financial reporting⁴
• On EDGAR sinceApr 20, 1995¹
• Filings1,287 in all: 4 (434), 8-K (219), 5 (146), 10-Q (95), 3 (54), DEF 14A (33), 10-K (27), 4/A (25)¹
  All 47 form types

  CORRESP (23), 424B3 (22), SC 13G/A (22), DEFA14A (18), ARS (16), S-4/A (16), UPLOAD (15), SC 13D/A (11), 10-Q/A (10), EFFECT (9), S-3/A (8), S-4 (8), 5/A (7), NT 10-K (7), S-3 (7), 10-K/A (6), POS AM (6), 8-K/A (5), 10-K405 (4), 3/A (4), 424B5 (3), FWP (3), NT 10-Q (3), SC 13G (3), S-3D (2), S-8 (2), SCHEDULE 13G (2), 10-K405/A (1), 424B4 (1), 8-A12B (1), 8-A12B/A (1), CERTNYS (1), PRE 14A (1), PRER14A (1), PRES14A (1), RW (1), S-3DPOS (1), SC 13D (1), SCHEDULE 13G/A (1)

• Latest filingsAnnual report (10-K) Mar 12, 2026
  Quarterly report (10-Q) Aug 6, 2026
  Proxy statement (DEF 14A) Apr 30, 2026
  Latest 8-K (8-K) Oct 9, 2026

Securities registered for trading

From the cover page of the 10-K filed Mar 12, 2026 (Section 12(b) of the Exchange Act).⁴

Risk factors and legal proceedings

The risks CITIZENS, INC. names in Item 1A of its 10-K filed Mar 12, 2026: 25 risks under these headings, as written.⁴

• INTERNATIONAL BUSINESS RISKS
• Our sales to residents of foreign countries expose us to unknown risks related to foreign regulation, foreign currency restrictions, and political instability. A significant loss of sales in these foreign markets would have a material adverse effect on our results of operations and financial condition.
• International Regulatory Risks.
• International Political Risks.
• We face significant competition for customers and distributors in our international markets. If we are unable to compete effectively in these markets, our business, results of operations and profitability may be adversely affected.
• We face a greater risk of money laundering activity associated with sales derived from residents of certain foreign countries.
• INSURANCE RISKS
• Pricing accuracy depends upon our ability to project future losses based on historical loss experience, adjusted for known trends.
• The Company’s success depends on its ability to accurately underwrite risks in order to charge adequate premiums to policyholders.
• Inadequate claims processes, training, technology, or fraud detection—or higher fraudulent activity—could increase costs, trigger litigation or fines, and harm our reputation.
• Lower than expected policyholder retention can negatively affect our business operations and liquidity.
• Reinsurance may not be available or affordable, or reinsurers may be unwilling or unable to meet their obligations under our reinsurance contracts, which may adversely affect our results of operations or financial condition.

Legal proceedings

In the first quarter of 2024, a jury trial was held in the “trade secret lawsuit”. The trade secret lawsuit was filed in 2018 by Citizens, CICA Life Ltd. ("CICA Bermuda") and CICA Life Insurance Company of America ("CLOA") (collectively, the “Citizens Companies,” “we,” "us" or "our") against certain former employees and independent consultants who we alleged unlawfully took Citizens’ confidential information in order to unfairly compete with us. Our claims against these parties included various unfair competition, tortious interference, breach of contract and other related claims.

As previously disclosed, the jury found that Citizens should pay Alexis Delgado and Carlos Nalsen Landa, former independent consultants, approximately $1.3 million for “money had and received”, an equitable theory that claimed that the Citizens Companies would be unjustly enriched if they didn’t pay past and future commissions to Delgado and Landa. Additionally, the trial court awarded defendants Michael P. Buchweitz and Randall Riley approximately $3.5 million of their legal fees incurred during the trade secret lawsuit. On August 16, 2024, the judge signed a Final Judgment reflecting the jury decision and the court award of the legal fees. We do not believe the jury properly found that Delgado or Landa were entitled to any prior or future commissions as there was no evidence that we actually held any amount of commissions that they claim they should have received. We also do not believe that Riley and Buchweitz are entitled to legal fees because they were found to have breached the contracts whose fee shifting provisions they sought to invoke.

On September 17, 2024, we filed an appeal bond with the trial court in order to stay any execution of the judgment against us.

We have appealed the judgment against us and the appeal is currently pending in the Court of Appeals, Third District of Texas.

The opening of Item 3, Legal Proceedings.⁴