Business Context and Reporting Period
This Form 8-K Current Report was filed by Citizens, Inc. on March 5, 2026. The filing discloses an amendment to the Executive Employment Agreement of Jon Stenberg, the Company's Chief Executive Officer, approved by the Board of Directors on the same date.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation adjustments.
Material Changes
The Board approved an amendment to Mr. Stenberg's compensation package effective April 1, 2026, intended to align with peer group and market data for retention and motivation. The specific changes are:
- Base Salary: Increased from $500,000 to $600,000.
- Short-Term Incentive (Annual Bonus): Target increased from $400,000 to $480,000 for the 2026 opportunity.
- Long-Term Incentive (LTI): Target increased from $450,000 to $540,000 for the 2026 opportunity.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future business performance. No specific risks or contingencies are disclosed in this report other than the standard reference to the full text of the Amendment (Exhibit 10.1) for complete terms.
Investor Verification Checklist
- Review the full text of the Amendment to the Executive Employment Agreement attached as Exhibit 10.1 for complete terms and conditions.
- Verify the effective date of the compensation changes (April 1, 2026).
- Confirm the total annualized compensation impact of the increases ($300,000 base + $80,000 short-term + $90,000 long-term targets).