Malcolm (born 1142) came to the throne at the age of twelve, after the death of his grandfather, King David I. He never married and was known as Malcolm 'the Maiden'.

Being a minor on the throne, there were celtic uprisings against Malcolm in Galloway, Argyll, and Moray which his Norman nobles were able to suppress. By the Treaty of Chester in 1157, Malcolm gave up Scotland’s claims to Carlisle and the earldom of Northumbria and was given in return by King Henry II the earldom of Huntingdon.

In 1160, seven earls including Malcolm, the second celtic Earl of Atholl, rebelled against King Malcolm IV and besieged him in the castle of Perth because he had accompanied King Henry II to Toulouse in the English campaigns against the French. In 1164, Malcolm (second earl) witnessed the charter of King Malcolm IV which raised Scone priory to an Abbey. Earl Malcolm had by his wife Hextilda, three sons and three daughters. Henry the eldest (born 1138) succeeded him as the third Earl of Atholl in 1198. The other sons were Duncan and Malcolm of whom nothing more is recorded.

King Malcolm died at Jedburgh in December 1165 at the age of twenty-three and was succeeded by his twenty-two year old brother William.

References:
Bingham, Caroline, "Kings and Queens of Scotland", New York, 1976, pp. 25-26,149.
Cowan, Samuel, "Three Celtic Earldoms", Edinburgh, 1909, pp. 11-14.
Paton, Sir Noel, "The Descendants of Conan of Glenerochie", privately printed, 1873, p. 3.