HCI Group, Inc. — Director's Dealing 2011

Aug 30, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Homeowners Choice, Inc. (HCII)
CIK: 0001400810
Period of Report: 2011-08-26

Reporting Person: Patel Harish M (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-08-26	Stock Option (Right to Buy)	$6.30	A	30000	Acquired	2021-08-25	Common (30000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common	57000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Warrant (Right to Buy)	$9.10	2013-07-30	Common (7000)	14000	Direct

Footnotes

F1: Shares are held jointly with spouse.

F2: In connection with the Homeowners Choice, Inc. initial public offering ("IPO"), 14,000 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 up to July 30, 2013.

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

F4: Commencing on April 20, 2012 and continuing on the same day of each calendar year thereafter through and including April 20, 2014, the amount of 10,000 options will vest and become exercisable on each such annual vesting date.