Moody Ross R Form 4 National Western Life / Ross R Moody ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Moody Ross R

(Last) (First) (Middle)

850 E ANDERSON LANE

(Street)

AUSTIN TX 78752

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
National Western Life Group, Inc. [ NWLI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chairman & CEO

3. Date of Earliest Transaction (Month/Day/Year)
12/11/2023

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	12/11/2023		M		3,098	A(1)	$0	12,098	D
Class A Common Stock	12/11/2023		M		3,098	D(1)	$480.32	9,000	D
Class A Common Stock	12/11/2023		M		6,000	A	$210.22	15,000	D
Class A Common Stock	12/11/2023		D		6,000	D	$481.54	9,000	D
Class A Common Stock	12/11/2023		M		5,929	A	$216.48	14,929	D
Class A Common Stock	12/11/2023		D		5,929	D	$481.54	9,000	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(2)	12/11/2023		M			3,098	12/09/2021	12/09/2021	Class A Common Stock	3,098	$0(2)	0	D
Stock Appreciation Rights	$210.22	12/11/2023		M			6,000	12/11/2014	12/11/2023(3)	Class A Common Stock	6,000	$0	0	D
Stock Appreciation Rights	$216.48	12/11/2023		M			5,929	02/17/2017	02/17/2026	Class A Common Stock	5,929	$0	2,964	D

Explanation of Responses:

1. The Restricted Stock Unit vested in full on December 9, 2023, and without any action or discretion by the Reporting Person he received a cash payment equal to the value of the shares on the vesting date.

2. Each restricted stock unit represents a contingent right to receive, with no additional consideration payable, the cash value of one share of NWLI Class A common stock on the Date Exercisable.

3. The exercised SARs include 6,000 SARs with an exercise price of $210.22 per share that were scheduled to expire on December 11, 2023, in accordance with the original terms of the grant of those SARs.

Remarks:

	Ross R. Moody	12/13/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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