HCI Group, Inc. — Director's Dealing 2010

Jun 21, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Homeowners Choice, Inc. (HCII)
CIK: 0001400810
Period of Report: 2010-06-18

Reporting Person: McCahill Francis Xavier III (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-06-18	Common stock	P	1000	$5.45	Acquired	2000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common stock	1000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Warrant (Right to Buy)	$9.10	2013-07-30	Common (500)	1000	Direct
Stock Option (Right to Buy)	$2.50	2017-05-31	Common (26000)	26000	Direct
Stock Option (Right to Buy)	$2.50	2017-05-31	Common (124000)	150000	Direct

Footnotes

F1: Shares are held jointly with spouse.

F2: In connection with the Homeowners Choice, Inc. initial public offering ("IPO"), 1,000 units were purchased on 7/30/08 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 IPO closing date.

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

F4: These options fully vested effective with the June 1, 2007 grant date.

F5: Commencing on May 1, 2008 and continuing on the same day of each calendar year thereafter through and including May 1, 2012, the amount of 24,800 options will vest and become exercisable on each such annual vesting date.