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: 2012-10-23

Reporting Person: Patel Paresh (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-10-23	Common stock	C	2450	$9.10	Acquired	65450	Direct
2012-10-26	Common stock	C	33644	$9.10	Acquired	33644	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-10-23	Stock Warrant (Right to Buy)	$9.10	C	4000	Disposed	2013-07-30	Common (2000)	Direct
2012-10-23	Stock Warrant (Right to Buy)	$9.10	S	2800	Disposed	2013-07-30	Common (0)	Indirect
2012-10-23	Stock Warrant (Right to Buy)	$9.10	S	7800	Disposed	2013-07-30	Common (0)	Indirect
2012-10-26	Stock Warrant (Right to Buy)	$9.10	C	4100	Disposed	2013-07-30	Common (2050)	Indirect
2012-10-23	Stock Warrant (Right to Buy)	$9.10	S	5000	Disposed	2013-07-30	Common (0)	Indirect
2012-10-23	Stock Warrant (Right to Buy)	$9.10	S	1000	Disposed	2013-07-30	Common (0)	Indirect
2012-10-23	Stock Warrant (Right to Buy)	$9.10	C	900	Disposed	2013-07-30	Common (450)	Direct
2012-10-23	Stock Warrant (Right to Buy)	$9.10	S	1860	Disposed	2013-07-30	Common (0)	Indirect
2012-10-23	Stock Warrant (Right to Buy)	$9.10	S	802	Disposed	2013-07-30	Common (0)	Indirect
2012-10-23	Stock Warrant (Right to Buy)	$9.10	S	1500	Disposed	2013-07-30	Common (0)	Indirect
2012-10-23	Stock Warrant (Right to Buy)	$9.10	S	1000	Disposed	2013-07-30	Common (0)	Indirect
2012-10-23	Stock Warrant (Right to Buy)	$9.10	S	4400	Disposed	2013-07-30	Common (0)	Indirect
2012-10-26	Stock Warrant (Right to Buy)	$9.10	C	5000	Disposed	2013-07-30	Common (2500)	Indirect
2012-10-26	Stock Warrant (Right to Buy	$9.10	C	5000	Disposed	2013-07-30	Common (2500)	Indirect
2012-10-23	Stock Warrant (Right to Buy)	$9.10	S	7900	Disposed	2013-07-30	Common (0)	Indirect
2012-10-26	Stock Warrant (Right to Buy)	$9.10	C	10000	Disposed	2013-07-30	Common (5000)	Indirect
2012-10-23	Stock Warrant (Right to Buy)	$9.10	S	2600	Disposed	2013-07-30	Common (0)	Indirect
2012-10-23	Stock Warrant (Right to Buy)	$9.10	S	2050	Disposed	2013-07-30	Common (0)	Indirect
2012-10-26	Stock Warrant (Right to Buy)	$9.10	C	5000	Disposed	2013-07-30	Common (2500)	Indirect
2012-10-26	Stock Warrant (Right to Buy)	$9.10	C	5000	Disposed	2013-07-30	Common (2500)	Indirect
2012-10-26	Stock Warrant (RIght to Buy)	$9.10	C	5000	Disposed	2013-07-30	Common (2500)	Indirect
2012-10-26	Stock Warrant (Right to Buy)	$9.10	C	5000	Disposed	2013-07-30	Common (2500)	Indirect
2012-10-26	Stock Warrant (Right to Buy)	$9.10	C	5000	Disposed	2013-07-30	Common (2500)	Indirect
2012-10-26	Stock Warrant (Right to Buy)	$9.10	C	7100	Disposed	2013-07-30	Common (3550)	Indirect
2012-10-26	Stock Warrant (Right to Buy)	$9.10	C	5000	Disposed	2013-07-30	Common (2500)	Indirect
2012-10-26	Stock Warrant (Right to Buy)	$9.10	C	6088	Disposed	2013-07-30	Common (3044)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common stock	284000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$2.50	2017-09-05	Common (60000)	60000	Direct
Stock Option (Right to Buy)	$2.50	2017-05-31	Common (60000)	60000	Direct
Series A Cumulative Redeemable Preferred Stock, no par value	$10.00		Common (10000)	10000	Direct

Footnotes

F1: Shares are held jointly with spouse.

F2: In connection with the Homeowners Choice, Inc. initial public offering ("IPO"), 4,000 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.

F3: Two warrants were exercised to acquire each share of common stock at an exercise price of $9.10 per common share.

F4: The options were granted pursuant to the Homeowners Choice, Inc. 2007 Stock Option and Incentive Plan.

F5: These options vest and become immediately exercisable upon the fair market value of the Company's Common Stock reaching $7.50 per share.

F6: Commencing on June 1, 2007 and continuing on the first day of each calendar month thereafter through and including January 1, 2010, the amount of 5,000 options will vest and become exercisable on each such monthly vesting date.

F7: Acquired pursuant to a Section 10b5-1 purchase plan.

F8: 2,800 warrants were purchased on 11/14/08 at a price of $0.3382 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F9: The following warrant sales took price on the date and for the price noted below:
Date # of Warrants Price
10/23/12 5,000 7
10/23/12 1,011 7.1001
10/23/12 4,600 7.1
10/24/12 1,000 7.04
10/25/12 8,389 7.1
10/25/12 3,800 7.15
10/26/12 4,812 7.11
10/26/12 100 6.85
10/26/12 1,500 6.56
10/26/12 200 6.57
10/26/12 400 6.59
10/26/12 2,140 6.41
10/26/12 200 6.42
10/26/12 2,450 6.54
10/26/12 500 6.55
10/26/12 500 6.57
10/26/12 100 6.56
10/26/12 2,010 6.43

F10: 3,800 warrants were purchased and exercisable on 11/18/08 and 4,000 warrants were purchased and exercisable on 4/6/2009 at a price of $0.45 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F11: 4,100 warrants were purchased on 11/19/08 at a price of $0.35 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F12: 5,000 warrants were purchased on 11/20/08 at a price of $0.38 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F13: 1,000 warrants were purchased on 11/25/08 at a price of $0.40 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F14: 900 warrants were purchased on 12/09/08 at a price of $0.50 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F15: 360 warrants were purchased on 2/2/09 and 1,500 warrants were purchased on 2/06/09 at a price of $0.47 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F16: 802 warrants were purchased on 2/4/09 at a price of $0.47 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F17: 1,500 warrants were purchased on 3/25/09 at a price of $0.42 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F18: 1,000 warrants were purchased on 3/30/09 at a price of $0.49 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F19: 4,400 warrants were purchased on 4/01/09 at a price of $0.475 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F20: Shares were purchased in connection with Homeowners Choice, Inc.'s ("HCI") offering of its 7% Series A Cumulative Redeemable Preferred Stock ("Series A Preferred"), which was completed on March 25, 2011. Each share of the Series A Preferred will be convertible, at the holder's option at any time, initially into one share of HCI's common stock based upon an initial conversion price of $10.00 per share.

F21: HCI may terminate this conversion right on or after March 31, 2014, if, for at least twenty trading days within any period of thirty consecutive trading days, the market price of HCI's common stock exceeds the conversion price of the Series A Preferred by more than 20% and HCI's common stock is then traded on the New York Stock Exchange, the NASDAQ Global Select Market, the NASDAQ Global Market, the NASDAQ Capital Market, or the NYSE Amex.

F22: 5,000 warrants were purchased on 5/06/09 at a price of $0.474 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F23: 5,000 warrants were purchased on 05/11/09 at a price of $0.504 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F24: 5,000 warrants were purchased on 05/21/09 and 2,900 warrants were purchased on 05/28/09 at a price of $0.50 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F25: 10,000 warrants were purchased on 06/16/10 at a price of $0.45 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F26: 2,600 warrants were purchased on 06/05/09 at a price of $0.5077 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F27: 2,050 warrants were purchased on 07/28/09 at a price of $0.5834 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F28: 5,000 warrants were purchased on 08/14/09 at a price of $0.6971 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F29: 5,000 warrants were purchased on 08/17/09 at a price of $0.69 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F30: 5,000 warrants were purchased on 08/27/09 at a price of $0.70 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F31: 5,000 warrants were purchased on 09/01/09 at a price of $0.60 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F32: 5,000 warrants were purchased on 09/04/09 at a price of $0.70 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F33: 7,100 warrants were purchased on 5/20/10 at a price of $0.60 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F34: 5,000 warrants were purchased on 06/02/10 at a price of $0.46 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.

F35: 6,088 warrants were purchased on 06/03/10 at a price of $0.50 per warrant. Two warrants may be exercised to acquire one share of the Company's common stock at an exercise price equal to $9.10 per share.