Form 4: HCI Group Executive Anthony Saravanos Sells Shares to Diversify Holdings

Anthony Saravanos, Division President of HCI Group, Inc., sold shares of common stock to improve investment diversification.

Summary

• Anthony Saravanos, a Division President at HCI Group, Inc., reported the sale of 12,967 shares of common stock on March 27, 2024, at a weighted average price of $117.0123 per share.
• He also sold 13,000 shares on March 28, 2024, at a weighted average price of $115.1065 per share.
• These transactions were executed to modestly improve the diversification of his investment holdings.
• Following these sales, Saravanos directly owns 71,365 shares and indirectly owns 54,033 shares through HC Investment LLC, 1,200 shares with Maria Saravanos as custodian for their son, and 140 shares in his IRA.
• Saravanos also holds restricted stock grants, including 875 shares vesting on May 20, 2024, 750 shares vesting on February 26, 2025, and 34,000 shares that will vest if HCI Group's stock price reaches $140 for 30 consecutive days.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document primarily reports stock sales for diversification purposes, with no explicit positive or negative implications for the company's performance.

Positives

• The reporting person is seeking to improve modestly the diversification of his investment holdings.

Management Comments

• The reporting person is seeking to improve modestly the diversification of his investment holdings.

Industry Context

Insider sales are a common occurrence and are often related to personal financial planning rather than a negative outlook on the company. However, large or frequent sales can sometimes be viewed negatively by investors.

Stakeholder Impact

• The stock sales could have a minor negative impact on shareholder sentiment, although the stated reason of diversification may mitigate concerns.

Key Dates