UNITEDSTATES OMB APPROVAL SECU RITIES AND EXCHANGE COMMISSION OMB Number: 32354080 Washington, D. C. 20549 Expires: March 31,2021 Estimated average burden FORM 25 hours per response 1.00 NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGTSTRATTON UNDER SECTTON 12(b) OF THE SBCURITIBS EXCHANGE ACT OF 1 934. g3 commission File Numbc.r 33-36 3 PICO HOLDINGS, lNC., The NASDAQ Stock Market LLC @xact name of Issuer as specified in its charteq and name of Exchange where security is listed an<J/or registered) 3480 GS Richards Blvd, Suite 101, Carson City, NV 89703 (Address, including zip code, and telephone number, including area code, oflssuer's princìpal executive offices) Series A Junior Participating Preferred Stock Purchase Rights (Description of class of securities) Please place an X in the box to designate the rule provision relied upon to shike the class ofsecurities from listing and re gistration: n 17 CFR 2¿m .2d2-2(a)(t) fl 17 cFR 2zt0 .t2d2-2(a)Q) E 17 CFR 2n.t2d2-2(a)(3) E 17 cFR240.12tz-2($@) n Pursuant to l7 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listi4rd/or withdrâw registration on the Exchanger E Pursuant to l7 CFR 24O.I2d2-2(c\, the Issuer has complied with the rules of the Exchange and the requirements of l7 CFR 24ï.12d2-2(c) governing the voluntary withdrawal of the class of securities fiom listing and regishation on the Exchange. Plco HOLDINGS' lNc Pursuant to the requirements of the securities Exchange Act of 1934, (Name of Issuer or Exchange) certìfies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this nofrcation to be signed on ìts behalfby the undersigned duly authorized person. 7 / 2 t-¿) ezz>/P* 5/ â/¿ft+ Date Nôre 'a Title t) ro.lh) A"77rn,aa -(11 L n'az- t Fom 25 and attached Notice will be considered compliance with the provisions of | 7 CFR 24}.1gd-l as applicable. See General In structions. Persons who respond to the collection of information containcd sEC 1654 (034ó) in this form are not required to respond unless the form displays a cu rrcntly valid OMB control nu mber.
GENERALINSTRUCTIONS 1. This form is required by Rule l2d2-2 (17 CFR 240.12d2-2) of the General Rules and Regulations under the Securities ExchaAgt of 1934 ("Exchange Act"). 2. Exchanges; Attach the delisting determination to this Form 25 to serve as the required Notice pursuant to Exchange Act Rulô9d-l (17 CFR 240.19d-1). Fotm 25 and the attached Notice will be considered compliance with the provisions of Rule l9d-1 as applleab 3. The Form 25 and any attachments must be filed electronically on the EDGAR database. 4. The removal of the class of securities from listing on the exchange shall be effective l0 days after filing the Form 25. Vúitespect to the filing of any amendment to Form 25, the removal of the class of securities from listing on the exchange shall be effectivffi days after filing the amended Form 25. 5. The withdrawal of registration of a class of securities registered under Section l2(b) of the Exchange Act shall take effecih 90 days, or such shorter period as the Commission may determine, after the exchange or issuer files a Form 25 with the Commission. With respect to the frling of any amendment to Form 25, the withdrawal of registration of a class of securities registered under Stbn l2(b) shall take effect in 90 days, or such shorter period as the Commission may determine, after the exchange or issuer files the amded Form 25. 6. For purposes of Section I 2 of the Exchange Act, a class of securitìes shall no longer be considered listed on a national seurities exchange upon the effective date of delisting even though the withdrawal of registration is effective at a later time. 7. The issuer's duty to hle any reports under Section l3(a) ofthe Exchange Act and the rules and regulations therer-rnder as aresult of the security's registration under Section l2(b) ofthe Exchange Act shall be suspended upon the effective date ofthe delisting If, following the effective date of delisting, the withdrawal of regishation under Section 12(b) is delayed by the Commission, mchange, ot an issuer, the issuer shall, within 60 days ofsuch delay, hle any reports that would have been required under Section l3(| and the rules and regulations thereunder, had the Form 25 not been filed. The issuer will also file any subsequent reports required unór Section l3(a) for the duration ofthe delay. 8. A¡ issuer whose reporting responsibilities under Section 13(a) ofthe Exchange Act are suspended for a class of securities rnder Rule I 2d2-2(d)(5) is, nevertheless, required to file any reports that an issuer with such a class of securities registered under Section l2 of the Exchange Act would be required to file under Section l3(a) if such class of securities: (a) is registeredunder Sectìon l2(g) ofthe Exchange Act; or (b) would be registered, or would be required to be registered, under Section l2(g) of the Exchange Act but for the exemption from registration under Section l2(g) provided by Section tZ(g)(Z)(A) of the Exchange Act. 9. An issuer whose reporting responsibilities under Section 13(a) ofthe Exchange Act are suspended under Rule 12d2-2(d)(5) is, nevertheless, required to file any reports that would be required under Section 15(d) ofthe Exchange Act but for the fact thaühe reporting obligations are: (a) suspended for a class ofsecurities under Rule l2d2-2(d)(5); and (b) suspended, terminated, or therwise absent under Section 12(g) ofthe Exchange Act. The reporting responsibilities ofan issuer under Section l5(d) ofthe ExchangoA.ct shall continue until the issuer is required to file reports under Section l3(a) of the Exchange Act or the issuer's reportingcponsibili- ties under Section l5(d) are otherwise suspended. I 0. Issuers should determine if they have additional registration and reporting requirements under Section I 2(g) of the Exchang Act and repofìng obligations pursuant to Section l5(d) of the Exchange Act upon the filing of Form 25. I l. In any case where the Commission has commenced a proceeding under Section 12 of the Exchange Act prior to the withdrawal of the registration of a class of securities becoming effective, such security will remain registered under Section l2(b) of the Ëhange Act until the final decision of such proceeding, or until the Commission otherwise determines to suspend the effective date of, onevoke, the registration ofa class ofsecurities. 12. In the event removal is being effected under Rule l2d2-2(a)(3) and the national securities exchange has admitted or intenfu admit a sucçessor secwity üo trading under the temporary exemption provided for by Exchange Act Rule l2a-5 (17 CFR 240.12a-5) thuñn25 shall be filed with the Commission in a manner that ensures that the delisting does not become effective until the successor scurity is removed from its exempt status. s