XML 53 R19.htm IDEA: XBRL DOCUMENT
v3.22.4

Stock Compensation | 12 Months Ended
--- | ---
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Stock Compensation | In 2022 and 2021, the Company's Board of Directors approved awards of restricted stock units ("RSUs") under the Citizens, Inc. Omnibus Incentive Plan for non-employee directors and the executive management team. The RSUs granted to the directors vest one year from the date of the annual shareholders meeting, subject to continued service on the Board. RSUs to the executive management team are subject to achieving performance goals and once the goals are met, RSUs are awarded. These awarded RSUs have a time-based vesting component of three years, subject to continued employment. In addition, the Board also approved an allotment of RSUs for other employees with a delegation to the Chief Executive Officer to determine the participants and number of RSUs to be awarded. There were three million shares originally authorized to be granted under the plan. The following table provides a rollforward of restricted stock activity:
Restricted Stock Units | Units |  | Weighted Average Grant Price |  | Weighted Average Remaining Contractual Life |  | Aggregate Fair Value (1)
| (In thousands) |  |  |  | (In years) |  | (In thousands)
Outstanding at December 31, 2020 | 190 |  |  | $ | 6.03 |  |  | 0.88 |  | $ | 1,142 |
Granted | 178 |  |  | 5.83 |  |  |  |  | 1,040 |
Less: |  |  |  |  |  |  |
Vested | 147 |  |  | 6.21 |  |  |  |  | 913 |
Forfeited | 8 |  |  | 5.96 |  |  |  |  | 47 |
Outstanding at December 31, 2021 | 213 |  |  | 5.75 |  |  | 1.63 |  | 1,222 |
Granted | 184 |  |  | 4.00 |  |  |  |  | 734 |
Less: |  |  |  |  |  |  |
Vested | 119 |  |  | 5.63 |  |  |  |  | 669 |
Forfeited | 12 |  |  | 4.27 |  |  |  |  | 51 |
Outstanding at December 31, 2022 | 266 |  |  | $ | 4.65 |  |  | 1.61 |  | $ | 1,236 |
(1) Fair value per share of restricted stock units was equal to Grant Date fair value per share, which was calculated based on the closing price of the Company's Class A common stock on the NYSE on the grant date, in accordance with ASC Topic 718. As of December 31, 2022, we recognized $0.6 million of expense, while $0.8 million was unrecognized and is expected to be amortized up to three years. Restricted stock unit awards give the participant the right to receive common stock in the future, subject to certain restrictions and a risk of forfeiture. Forfeitures are recognized in the period they occur. Compensation expense of $0.5 million and $0.6 million was recognized in 2022 and 2021, respectively, related to these awards.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI https://asc.fasb.org/topic&trid=2228938 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (l) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration