SEC Form 4 · accession 0001209191-16-106102
HCI Group, Inc. · HCI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Harish M Patel
Director
Period of report
Mar 2, 2016
Accepted (ET)
Mar 4, 2016 · 4:28 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 stockF2 | Mar 2, 2016 | J | 6,000 | — | D | 18,000 | D | |
| Common stockF1 | holding | — | — | — | 64,000 | D | ||
| Common stock | holding | — | — | — | 10,000 | 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)F3,F4 | $6.30 | holding | — | — | — | — | Aug 25, 2021 | Common | 20,000 | 20,000 | D |
Explanation of responses
- F1Shares are held jointly with spouse.
- F2Pursuant to an amendment to this 24,000 share restricted stock award granted 5/16/13, the Issuer cancelled effective 3/2/2016 the 6,000 share tranche that was to have vested one year after the closing price of HCI common shares equaled or exceeded $50 per share for 20 consecutive trading days. Of the award's 18,000 remaining shares, 6,000 have previously vested, 6,000 shares will vest one year after the closing price of HCI common shares equals or exceeds $65 per share for 20 consecutive trading days, and 6,000 will vest one year after the closing price of HCI common shares equals or exceeds $80 per share for 20 consecutive trading days. All shares for 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.
- F3The options were granted pursuant to the Homeowners Choice, Inc. 2007 Stock Option and Incentive Plan.
- F4Commencing 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.