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HCI Group, Inc. — Director's Dealing 2011
Jun 28, 2011
31530_dirs_2011-06-28_3c690779-fc09-4af5-bc6e-ba70f53f2e5c.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: Homeowners Choice, Inc. (HCII)
CIK: 0001400810
Period of Report: 2011-06-24
Reporting Person: McCahill Francis Xavier III (Director, President and CEO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2011-06-24 | Common stock | M | 125200 | $2.50 | Acquired | 125200 | Direct |
| 2011-06-27 | Common stock | D | 85200 | $2.50 | Disposed | 40000 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2011-06-24 | Stock Option (Right to Buy) | $2.50 | M | 26000 | Disposed | 2017-05-31 | Common (26000) | Direct |
| 2011-06-24 | Stock Option (Right to Buy) | $2.50 | M | 99200 | Disposed | 2017-05-31 | Common (99200) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common stock | 2000 | Direct |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Stock Warrant (Right to Buy) | $9.10 | 2013-07-30 | Common (500) | 1000 | Direct |
Footnotes
F1: Shares are held jointly with spouse.
F2: These shares were redeemed by the issuer at a price of $6.50 per share on June 27, 2011. Such redemption was required under the terms of a voluntary separation agreement between Mr. McCahill and Homeowners Choice, Inc.
F3: 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.
F4: The options were granted pursuant to the Homeowners Choice, Inc. 2007 Stock Option and Incentive Plan.
F5: These options fully vested effective with the June 1, 2007 grant date.
F6: 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.