HCI Group, Inc. — Director's Dealing 2010

Nov 4, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Homeowners Choice, Inc. (HCII)
CIK: 0001400810
Period of Report: 2010-11-02

Reporting Person: Apostolou George (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-11-02	Common stock	X	30000	$2.50	Acquired	33000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-11-02	Stock Option (Right to Buy)	$2.50	X	30000	Disposed	2017-05-31	Common stock (30000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common stock	105000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Warrant (Right to Buy)	$9.10	2013-07-30	Common stock (1500)	3000	Direct

Footnotes

F1: Shares are held jointly with spouse.

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.

F4: 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.