SEC Form 4 · accession 0001209191-15-069966
HCI Group, Inc. · HCI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Harish M Patel
Director
Period of report
Sep 8, 2015
Accepted (ET)
Sep 9, 2015 · 5:21 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001400810
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common stock | Sep 8, 2015 | M | 10,000 | $6.30 | A | 10,000 | D | |
| Common stockF1 | holding | — | — | — | 64,000 | D | ||
| Common stockF2,F3 | holding | — | — | — | 24,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to buy)F4,F5 | $6.30 | Sep 8, 2015 | M | 10,000 | D | — | Aug 25, 2021 | Common | 10,000 | 20,000 | D |
Explanation of responses
- F1Shares are held jointly with spouse.
- F2Restricted stock grant of 24,000 shares effective 5/16/2013: Restrictions will lapse: (i) as to 6,000 shares, one year after the closing price of HCI common shares equals or exceeds $35 per share for 20 consecutive trading days; (ii) as to 6,000 shares, one year after the closing price of HCI common shares equals or exceeds $50 per share for 20 consecutive trading days; (iii) as to 6,000 shares, one year after the closing price of HCI common shares equals or exceeds $65 per share for 20 consecutive trading days; (iv) as to 6,000 shares, one year after the closing price of HCI common shares equals or exceeds $80 per share for 20 consecutive trading days. All shares of which restrictions have not lapsed 6 years and one day from the grant date will be forfeited. 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 5/16/2013.
- F3As of September 9, 2015, 6,000 shares have vested and 18,000 shares remain subject to restrictions.
- F4The options were granted pursuant to the Homeowners Choice, Inc. 2007 Stock Option and Incentive Plan.
- F5Commencing on April 20, 2012 and continuing on the same day of each calendar year thereafter through and including April 20, 2014, the amount of 10,000 options became exercisable on each such annual vesting date.