HCI Group, Inc. — Director's Dealing 2012

Oct 29, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Homeowners Choice, Inc. (HCII)
CIK: 0001400810
Period of Report: 2012-10-24

Reporting Person: Madhu Sanjay (Director, Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-10-24	Common Stock	C	703	$9.10	Acquired	2803	Indirect
2012-10-24	Common Stock	C	67	$9.10	Acquired	267	Indirect
2012-10-24	Common Stock	C	1000	$9.10	Acquired	4000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-10-24	Stock Warrant (Right to Buy)	$9.10	S	660	Disposed	2013-07-30	Common Stock (0)	Indirect
2012-10-24	Stock Warrant (Right to Buy)	$9.10	S	34	Disposed	2013-07-30	Common Stock (0)	Indirect
2012-10-24	Stock Warrant (Right to Buy)	$9.10	C	1406	Disposed	2013-07-30	Common Stock (703)	Indirect
2012-10-24	Stock Warrant (Right to Buy)	$9.10	S	66	Disposed	2013-07-30	Common Stock (0)	Indirect
2012-10-24	Stock Warrant (Right to Buy)	$9.10	C	134	Disposed	2013-07-30	Common Stock (67)	Indirect
2012-10-24	Stock Warrant (Right to Buy)	$9.10	S	1000	Disposed	2013-07-30	Common Stock (0)	Indirect
2012-10-24	Stock Warrant (Right to Buy)	$9.10	C	2000	Disposed	2013-07-30	Common Stock (1000)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	110000	Indirect
Common Stock	30000	Direct

Footnotes

F1: The reporting person holds voting and investment power of the 110,000 shares held by Universal Finance & Investments, LLC.

F2: Restriced Stock Grant effective 5/8/2012: (a)15,000 shares of the Restricted Stock issued hereunder the Restrictions will lapse in annual increments of 3,000 shares beginning on the first anniversary of the Vesting Date. (b)The remaining 15,000 shares of the Restricted Stock issued hereunder the Restrictions will lapse: (i) as to 3,000 shares, one year after the Closing Price equals or exceeds $16 per share for 20 consecutive trading days; (ii)as to 3,000 shares, one year after the Closing Price equals or exceeds $19 per share for 20 consecutive trading days; (iii)as to 3,000 shares, one year after the Closing Price equals or exceeds $22 per share for 20 consecutive trading days; (iv)as to 3,000 shares, one year after the Closing Price equals or exceeds $25 per share for 20 consecutive trading days; (v)as to 3,000 shares one year after the Closing Price equals or exceeds $28 per share for 20 consecutive trading days;

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: Two warrants were exercised to acquire each share of common stock at an exercise price of $9.10 per common share.

F5: 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.

F6: 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.