Form 4: HCI Group CFO James Mark Harmsworth Reports Stock Transactions
SEC Form 4 Filing
HCI Group's CFO, James Mark Harmsworth, reports the vesting and tax-related disposal of restricted stock.
Summary
- James Mark Harmsworth, CFO of HCI Group, Inc., filed a Form 4 detailing changes in beneficial ownership of company stock.
- On February 26, 2024, 750 shares of restricted stock vested, and 223 shares were surrendered to cover federal income tax liability.
- These shares are part of restricted stock grants from 2020 and 2021 under the company's 2012 Omnibus Incentive Plan.
- Following these transactions, Harmsworth directly owns 34,000 shares of HCI Group stock.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock vesting, neither particularly positive nor negative.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The vesting of restricted stock aligns management's interests with those of shareholders.
Key Dates
| Date | Description |
|---|---|
| 05/26/2020 | Effective date of restricted stock grant of 3,500 shares. |
| 05/20/2021 | First vesting date of the 2020 restricted stock grant (875 shares). |
| 02/26/2021 | Effective date of restricted stock grant of 3,000 and 34,000 shares. |
| 02/26/2022 | First vesting date of the 2021 restricted stock grant of 3,000 shares (750 shares). |
| 02/26/2023 | Second vesting date of the 2021 restricted stock grant of 3,000 shares (750 shares). |
| 05/20/2023 | Third vesting date of the 2020 restricted stock grant (875 shares). |
| 02/26/2024 | Date of transaction: Vesting of restricted stock and surrender of shares for tax liability. |
| 05/20/2024 | Final vesting date of the 2020 restricted stock grant (875 shares). |
| 02/26/2025 | Final vesting date of the 2021 restricted stock grant of 3,000 shares (750 shares). |
| 02/28/2024 | Date of Form 4 filing. |
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