Form 4: HCI Group COO Karin Coleman Reports Stock Transactions
SEC Form 4
Karin Coleman, COO of HCI Group, reports the disposition of shares to cover tax liabilities and details of restricted stock grants.
Summary
- Karin Coleman, the Chief Operating Officer of HCI Group, filed a Form 4 detailing changes in her beneficial ownership of the company's stock.
- On May 20, 2024, she disposed of 214 shares of common stock at a price of $102.33 to cover federal tax liabilities associated with the vesting of 875 restricted shares.
- The filing also references previous restricted stock grants from 2020 and 2021, with vesting schedules and conditions based on time and stock price performance.
- As of the report, Ms. Coleman directly owns 23,798.14 shares of common stock, in addition to 750 shares vesting in February 2025 and 34,000 shares that will vest if the company stock value first equals or exceeds $140 for 30 consecutive days.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't contain information that would significantly sway investor sentiment positively or negatively.
Future Outlook
The vesting of restricted stock grants is contingent on time-based schedules and a performance-based condition related to the company's stock price.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor potential alignment of interests between management and shareholders.
Comparison to Industry Standards
- Stock-based compensation is a common practice in the insurance industry to align executive incentives with shareholder value.
- Companies like Progressive and Allstate also utilize restricted stock grants as part of their executive compensation packages.
- The vesting schedules and performance-based conditions are generally in line with industry standards for long-term incentive plans.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
- The vesting of restricted stock aligns management's interests with long-term shareholder value.
Key Dates
| Date | Description |
|---|---|
| 05/26/2020 | Effective date of a restricted stock grant of 3,500 shares, vesting in four equal installments on May 20 of each subsequent year. |
| 02/26/2021 | Effective date of a restricted stock grant of 3,000 shares, vesting in four equal installments on February 26 of each subsequent year. |
| 02/26/2021 | Effective date of a restricted stock grant of 34,000 shares, vesting if the company stock value first equals or exceeds $140 for 30 consecutive days. |
| 05/20/2024 | Date of transaction where 214 shares were surrendered to cover tax liability and 875 shares vested. |
| 05/22/2024 | Date of the Form 4 filing. |
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