Form 4: HCI Group Executive Anthony Saravanos Reports Share Transactions
SEC Form 4
Anthony Saravanos, Division President of HCI Group, reports the disposition of 214 shares to cover tax liabilities and details of restricted stock grants.
Summary
- Anthony Saravanos, a Division President at HCI Group, filed a Form 4 detailing changes in his beneficial ownership of company stock.
- On May 20, 2024, he 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 report also outlines previous restricted stock grants, including 3,500 shares granted on May 26, 2020, vesting in installments, and 3,000 shares granted on February 26, 2021, also vesting in installments.
- A further grant of 34,000 restricted shares from February 26, 2021, will vest if the company's stock price reaches or exceeds $140 for 30 consecutive days.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing share transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Future Outlook
The vesting of restricted stock grants is contingent on continued service and, in the case of the 34,000 share grant, on the company's stock price performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Investors monitor these filings to gain insights into management's perspective on the company's stock.
Stakeholder Impact
- The vesting of restricted stock and subsequent sale of shares to cover taxes can have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 05/26/2020 | Effective date of a restricted stock grant of 3,500 shares. |
| 02/26/2021 | Effective date of a restricted stock grant of 3,000 shares and another for 34,000 shares. |
| 05/20/2024 | Date of transaction where 214 shares were disposed of to cover tax liability. |
| 05/22/2024 | Date of signature for the Form 4 filing. |
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