SEC Form 4 · accession 0001209191-16-091402
HCI Group, Inc. · HCI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Paresh Patel
Officer — Chief Executive Officer · Director
Period of report
Jan 13, 2016
Accepted (ET)
Jan 14, 2016 · 4:08 pm EST
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 stockF1,F2 | Jan 13, 2016 | P | 600 | $30.975 | A | 152,539 | D | |
| Common StockF1,F3 | Jan 13, 2016 | P | 400 | $31.8525 | A | 152,939 | D | |
| Common stock | holding | — | — | — | 34,000 | I | IRA | |
| Common stockF4,F5 | holding | — | — | — | 400,000 | D | ||
| Common stockF6 | holding | — | — | — | 284,000 | 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)F7,F8 | $2.50 | holding | — | — | — | — | Sep 5, 2017 | Common | 60,000 | 60,000 | D |
Explanation of responses
- F1Acquired pursuant to a Section 10b5-1 purchase plan adopted by the Reporting Person.
- F2The reported price in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $30.67 to $31.49 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
- F3The reported price in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $31.75 to $31.96 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
- F4Restricted stock grant of 400,000 shares effective 5/16/2013: Restrictions will lapse: (i) as to 100,000 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 100,000 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 100,000 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 100,000 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 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.
- F5As of the date of this filing, 100,000 shares have vested and 300,000 shares remain subject to restrictions.
- F6Shares held jointly with spouse.
- F7The options were granted pursuant to the HCI Group, Inc. 2007 Stock Option and Incentive Plan.
- F8These options vested and became immediately exercisable upon the fair market value of the Company's Common Stock reaching $7.50 per share.