Paresh Patel - Dec 6, 2023 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
Dec 6, 2023
Transactions value $
$390,000
Form type
4
Date filed
12/8/2023, 05:39 PM
Previous filing
Sep 19, 2023
Next filing
Apr 10, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HCI Common Stock Other $390K +5K +1.5% $78.00 338K Dec 6, 2023 Direct F1
holding HCI Common stock 37.5K Dec 6, 2023 IRA
holding HCI Common stock 447K Dec 6, 2023 Direct F2
holding HCI Common Stock 10K Dec 6, 2023 Direct F3
holding HCI Common Stock 10K Dec 6, 2023 Direct F4

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 Dec 6, 2023 Common 110K $40.00 Direct F5, F6
holding HCI Stock Option (Right to Buy) 110K Dec 6, 2023 Common 110K $40.00 Direct F5, F7
holding HCI Stock Option (Right to Buy) 110K Dec 6, 2023 Common 110K $53.00 Direct F5, F8
holding HCI Stock Option (Right to Buy) 110K Dec 6, 2023 Common 110K $48.00 Direct F5, F9
holding HCI Stock Option (Right to Buy) 150K Dec 6, 2023 Common 150K $70.00 Direct F5, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person purchased 5,000 common shares for $78 per share in a secondary offering. The offering was part of an underwriten public offering of HCI Group, Inc. common shares.
F2 Shares held jointly with spouse.
F3 Restricted stock grant of 40,000 shares effective January 16, 2020: Restrictions on 10,000 shares will lapse on each of January 16, 2021, January 16, 2022, January 16, 2023, and January 16, 2024. 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 award contract dated January 16, 2020.
F4 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 trading 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.
F5 The options were granted pursuant to the HCI Group, Inc. 2012 Omnibus Incentive Plan.
F6 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.
F7 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.
F8 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.
F9 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. Of the 110,000 options, 82,500 have vested and the remaining 27,500 options will vest January 16, 2024. Once vested, the options may be exercised at any time up to and including January 16, 2030.
F10 The options were granted on September 15, 2023 and the options will vest, if ever, on the date on which the company stock value first equals or exceeds $80.00 for 20 consecutive trading days on the applicable exchange. If the above conditions are met, the options will be exercisable at an exercise price of $70.00 per share. The options will expire on September 15, 2033.