Paresh Patel - Apr 17, 2024 Form 4 Insider Report for HCI Group, Inc. (HCI)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Andrew L. Graham as Attorney-in-fact for Paresh Patel
Stock symbol
HCI
Transactions as of
Apr 17, 2024
Transactions value $
$0
Form type
4
Date filed
4/22/2024, 04:28 PM
Previous filing
Apr 18, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HCI Common Stock Award +200K 200K Apr 17, 2024 Direct F1
holding HCI Common Stock 37.5K Apr 17, 2024 IRA
holding HCI Common Stock 727K Apr 17, 2024 Direct F2
holding HCI Common Stock 10K Apr 17, 2024 Direct F3
holding HCI Common Stock 69.5K Apr 17, 2024 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding HCI Stock Option (Right to Buy) 110K Apr 17, 2024 Common 110K $40.00 Direct F4, F5
holding HCI Stock Option (Right to Buy) 110K Apr 17, 2024 Common 110K $40.00 Direct F4, F6
holding HCI Stock Option (Right to Buy) 110K Apr 17, 2024 Common 110K $53.00 Direct F4, F7
holding HCI Stock Option (Right to Buy) 110K Apr 17, 2024 Common 110K $48.00 Direct F4, F8
holding HCI Stock Option (Right to Buy) 150K Apr 17, 2024 Common 150K $70.00 Direct F4, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock grant of 200,000 shares effective 4/17/2024: If at any time the Fair Market Value equals or exceeds $200 for 30 consecutive trading days (the "Vesting Trigger Date"), the restricted shares will vest and the restrictions will lapse as follows. 50,000 of the restricted shares on the later of the Vesting Trigger Date or March 15, 2025; March 15, 2026; March 15, 2027; and March 15, 2028. No portion of the restriction period will lapse six years and one day after the grant date. All remaining restricted shares will be forfeited at that time. These shares were granted by the company pursuant to the company's 2012 Omnibus Incentive Plan and under the terms and conditions of a restricted stock agreement dated 4/17/2024.
F2 Shares held jointly with spouse.
F3 Restricted stock grant of 10,000 shares effective 2/26/2021: Restricted shares will vest, if ever, on the first anniversary of the date on which the company stock value first equals or exceeds $140 for 30 consecutive days on the applicable exchange. These shares were granted by the company pursuant to the company's 2012 Omnibus Incentive Plan and under the terms and conditions of a restricted stock agreement dated 2/26/2021.
F4 The options were granted pursuant to the HCI Group, Inc. 2012 Omnibus Incentive Plan.
F5 The options were granted on January 7, 2017 at an exercise price of $40.00 per share, in excess of the $39.71 market value. All options have vested and may be exercised at any time up to and including January 7, 2027.
F6 The options were granted on February 8, 2018 at an exercise price of $40.00 per share, in excess of the $34.92 market value. All options have vested and may be exercised at any time up to and including February 8, 2028.
F7 The options were granted on January 15, 2019 at an exercise price of $53.00 per share, in excess of the $47.94 market value. All options have vested and may be exercised at any time up to and including January 15, 2029.
F8 The options were granted on January 16, 2020 at an exercise price of $48.00 per share, in excess of the $45.97 market value. All options have vested and may be exercised at any time up to and including January 16, 2030.
F9 The options were granted on September 15, 2023 and vested on December 14, 2023 at an exercise price of $70.00 per share when the company stock value first equaled and exceeded $80.00 for 20 consecutive days on the applicable exchange. The options will expire on September 15, 2033.