HCI Group, Inc. — Director's Dealing 2008

Jul 23, 2008

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Homeowners Choice, Inc. (HCII)
CIK: 0001400810
Period of Report: 2008-07-23

Reporting Person: Persaud Krishna (Director)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common stock	320000	Indirect
Common stock	80000	Indirect

Holdings (Derivative)

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

Footnotes

F1: The reporting person holds voting and investment power of the 320,000 shares held by Windsor Related Holdings, LLC.

F2: The options were granted pursuant to the Homeowners Choice, Inc. 2007 Stock Option and Incentive Plan.

F3: 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.