HCI Group, Inc. — Director's Dealing 2010

Dec 28, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Homeowners Choice, Inc. (HCII)
CIK: 0001400810
Period of Report: 2010-12-27

Reporting Person: Madhu Sanjay (Director, Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-12-27	Common stock	J	30000	—	Acquired	110000	Indirect
2010-12-27	Common stock	J	30000	—	Disposed	0	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common stock	2100	Indirect
Common stock	200	Indirect
Common stock	3000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Warrant (Right to Buy)	$	2013-07-30	Common stock (1050)	1050	Indirect
Stock Warrant (Right to Buy)	$	2013-07-30	Common stock (100)	100	Indirect
Stock Warrant (Right to Buy)	$	2013-07-30	Common stock (1500)	1500	Indirect

Footnotes

F1: On December 27, 2010, 30,000 HCII common shares previously held directly by the reporting person were transferred to Universal Finance & Investments, LLC. The reporting person holds voting and investment power of 110,000 HCII common shares held by Universal Finance & Investments, LLC following the reported transaction.

F2: The reporting person holds voting and investment power of the 110,000 shares held by Universal Finance & Investments, LLC.

F3: In connection with the Homeowners Choice, Inc. initial public offering ("IPO"), 2,100 units were purchased on 7/25/08 at a price of $7.00 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 any time after the closing of the IPO up to five years after the July 30, 2008 IPO closing date.

F4: In connection with the Homeowners Choice, Inc. initial public offering ("IPO"), 200 units were purchased on 7/25/08 at a price of $7.00 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 any time after the closing of the IPO up to five years after the July 30, 2008 IPO closing date.

F5: In connection with the Homeowners Choice, Inc. initial public offering ("IPO"), 3,000 units were purchased on 7/25/08 at a price of $7.00 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 any time after the closing of the IPO up to five years after the July 30, 2008 IPO closing date.