8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 1, 2017

CITIZENS, INC.

(Exact name of registrant as specified in its charter)

COLORADO	0-16509	84-0755371
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

400 East Anderson Lane

Austin, Texas 78752

(Address of principal executive offices) (Zip Code)

(512) 837-7100

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers	1
Item 9.01 - Financial Statements and Exhibits	1
Signature	2
Exhibit Index	3

Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On February 1, 2017, Citizens, Inc. (“Citizens”) announced the appointment of Terry Festervand, 64, as Chief Operating Officer. Ms. Festervand joins Citizens with over 18 years of insurance experience at American International Group, Inc. (“AIG”) in various capacities. During the last five years, she served at AIG Life and Retirement, first as Senior Vice President and Treasurer and later as Senior Vice President, Accounting Operations. Earlier in her career at AIG, she was the Director of Global Sarbanes Oxley (“SOX”) Compliance (AIG Corporate, New York) and led the development and implementation of a SOX compliance program throughout AIG’s worldwide operations. Ms. Festervand brings Citizens’ team expertise in coordinating publicly traded company responsibilities with insurance operations, having been an Executive Vice President, Chief Financial Officer at AIG (Advisor Group, Atlanta).

A copy of the press release issued by Citizens regarding this announcement is attached as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

99.1 News Release issued by Citizens, Inc. on February 1, 2017.

1

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CITIZENS, INC
By:	/s/ Geoffrey M. Kolander
	Geoffrey M. Kolander
	Chief Executive Officer

Date: February 1, 2017

2

EXHIBIT INDEX

Exhibit No.	Description
99.1	News Release issued by Citizens, Inc. on February 1, 2017.

3

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

February 1, 2017

For further information contact:

Investor Relations

PR@citizensinc.com

CITIZENS, INC. ANNOUNCES NEW CHIEF OPERATING OFFICER

AUSTIN, TX – February 1, 2017 – Citizens, Inc. (NYSE: CIA) today announced that its Board of Directors has unanimously appointed Terry Festervand as Chief Operating Officer (COO).

Ms. Festervand joins Citizens with over 18 years of insurance experience at American International Group, Inc. (“AIG”), where she was at one time the Director of Global Sarbanes Oxley (“SOX”) Compliance (AIG Corporate, New York) and led the development and implementation of a SOX compliance program throughout AIG’s world wide operations. Ms. Festervand brings Citizens’ team expertise in coordinating publicly traded company responsibilities with insurance operations, having been an EVP, CFO at AIG (Advisor Group, Atlanta). Other past roles within AIG include: VP Quality & Control (AIG ALICO, New York) and SVP, Treasurer and Accounting Operations (Life & Retirement, Houston), where she led the development of a compliance risk management program and the introduction of an operational risk management program.

Ms. Festervand will report to Citizens’ President, Kay Osbourn, but will be spending significant time with Geoff Kolander, Citizens’ CEO, implementing Citizens’ “winning with talent and execution” corporate strategy.

According to Mr. Kolander, “this strategic appointment is the first step in implementing the future vision of Citizens. Terry brings vast experience and knowledge of internal control best practices, financial reporting responsibilities and insurance operations to the Company. Further, I admire Terry’s proven track record as a beacon of integrity within an organization. Terry embodies the precise combination of talent and character we require within our executive team and organization. I look forward to working with Terry and the rest of our executive team as we shape Citizens for success.”

Citizens, Inc. is a financial services company listed on the New York Stock Exchange under the symbol CIA. The Company utilizes a three-pronged strategy for growth based upon worldwide sales of U.S. Dollar-denominated whole life cash value insurance policies, life insurance product sales in the U.S. and the acquisition of other U.S.-based life insurance companies. Citizens Class A common stock closed at $9.26 on January 31, 2017.

This press release may contain forward-looking statements as defined in the U.S. federal securities laws. which can be identified by words such as “may,” “will,” “expect,” “anticipate” or “continue” or comparable words. In addition, all statements other than statements of historical facts that address activities that the Company expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated or implied by the forward-looking statements, including the “Risk Factors” and similar disclosure described in Citizens’ Annual Report on Form 10-K for the year ended December 31, 2015, Quarterly Reports on Form 10-Q and other periodic filings with the Securities and Exchange Commission You should not unduly rely on forward-looking statements, which speak only as of the date they are made. Citizens undertakes no duty or obligation to update or revise any forward-looking statement as a result of new information, future events or changes in the Company’s expectations. The Company also disclaims any duty to comment upon or correct information that may be contained in reports published by the investment community.