HCI Group, Inc. — Director's Dealing 2013

May 9, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Homeowners Choice, Inc. (HCI)
CIK: 0001400810
Period of Report: 2013-05-08

Reporting Person: Madhu Sanjay (Director, Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-05-08	Common Stock	F	894	$32.93	Disposed	27000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2803	Indirect
Common Stock	267	Indirect
Common Stock	90000	Indirect
Common Stock	2106	Direct

Footnotes

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

F2: 894 shares were surrendered to cover the minimum federal income tax liability associated with the vesting of 3,000 restricted shares on 5/8/2013.

F3: Restricted 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.