Form 4: HCI Group CFO James Mark Harmsworth Reports Share Surrender for Tax Obligations

James Mark Harmsworth, CFO of HCI Group, surrendered 223 shares to cover federal tax liabilities associated with the vesting of restricted shares.

Summary

• On February 26, 2025, James Mark Harmsworth, the Chief Financial Officer of HCI Group, Inc., surrendered 223 shares of common stock to cover federal tax liabilities.
• This transaction was related to the vesting of 750 restricted shares.
• The price per share for the transaction was $121.33.
• Following the transaction, Harmsworth directly owns 16,081 shares of common stock and indirectly owns 34,000 shares.
• The 34,000 indirectly owned shares are subject to vesting conditions based on the company's stock price reaching $140 for 30 consecutive days.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a standard transaction related to executive compensation. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for publicly traded companies in the United States, ensuring transparency in insider trading activities.
• Companies like Progressive, Allstate, and Travelers also have their executives file similar forms when they have transactions involving company stock.
• The vesting schedules and conditions for restricted stock grants are common practices in executive compensation packages across the insurance industry.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it is a routine share surrender for tax purposes.
• It provides transparency to shareholders regarding insider transactions.

Key Dates