HCI Group, Inc. — Director's Dealing 2008

Sep 4, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Homeowners Choice, Inc. (HCII)
CIK: 0001400810
Period of Report: 2008-09-02

Reporting Person: Apostolou George (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-09-02	Common stock	P	3000	$6.78	Acquired	3000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-09-02	Stock Warrant (Right to Buy)	$9.10	P	3000	Acquired	2013-07-30	Common stock (1500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common stock	100000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$2.50	2017-05-31	Common stock (30000)	30000	Direct

Footnotes

F1: Open market purchase of 3,000 Homeowners Choice, Inc. units at a price of $6.78 per unit, with each unit consisting of one share of common stock and one warrant. Two warrants may be exercised to acquire one share of common stock at an exercise price equal to $9.10 per share. The warrants may be exercised at any time on or before July 30, 2013.

F2: Shares are held jointly with spouse.

F3: The options were granted pursuant to the Homeowners Choice, Inc. 2007 Stock Option and Incentive Plan.

F4: Commencing on May 1, 2008 and continuing on the same day of each calendar year thereafter through and including May 1, 2010, the amount of 10,000 options will vest and become exercisable on each such annual vesting date.