Form 4: HCI Group Executive Anthony Saravanos Reports Stock Transactions
SEC Form 4 Filing
Anthony Saravanos, Division President at HCI Group, reports stock transactions including vesting of restricted shares and shares surrendered for tax liability.
Summary
- Anthony Saravanos, a Division President at HCI Group, filed a Form 4 detailing changes in his beneficial ownership of HCI Group stock.
- The report includes the vesting of 750 restricted shares on February 26, 2024.
- 223 shares were surrendered to cover federal income tax liability associated with the vesting.
- Saravanos directly owns 71,365 shares of common stock.
- He indirectly owns 80,000 shares through HC Investment LLC.
- He also indirectly owns 1,200 shares with Maria Saravanos as custodian for their son, Kostos Anthony Saravanos, and 140 shares through an IRA.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Future Outlook
34,000 restricted shares will vest if the company's stock price equals or exceeds $140 for 30 consecutive trading days.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 05/26/2020 | Effective date of restricted stock grant of 3,500 shares. |
| 05/20/2021 | First vesting date for the 2020 restricted stock grant (875 shares). |
| 02/26/2021 | Effective date of restricted stock grant of 3,000 shares and 34,000 shares. |
| 02/26/2022 | First vesting date for the 2021 restricted stock grant (750 shares). |
| 05/20/2022 | Second vesting date for the 2020 restricted stock grant (875 shares). |
| 02/26/2023 | Second vesting date for the 2021 restricted stock grant (750 shares). |
| 05/20/2023 | Third vesting date for the 2020 restricted stock grant (875 shares). |
| 02/26/2024 | Date of transaction: vesting of restricted shares and surrender of shares for tax liability; Third vesting date for the 2021 restricted stock grant (750 shares). |
| 05/20/2024 | Final vesting date for the 2020 restricted stock grant (875 shares). |
| 02/26/2025 | Final vesting date for the 2021 restricted stock grant (750 shares). |
| 02/28/2024 | Date of Form 4 filing. |
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