Form 4: HCI Group's General Counsel, Andrew L. Graham, Reports Share Transactions
SEC Form 4 Filing
Andrew L. Graham, General Counsel of HCI Group, Inc., reports the surrender of 214 shares to cover tax liabilities and ongoing vesting of restricted stock.
Summary
- On May 20, 2024, Andrew L. Graham, the General Counsel of HCI Group, Inc., reported transactions involving the company's common stock.
- He surrendered 214 shares to cover the minimum federal tax liability associated with the vesting of 875 restricted shares.
- The surrendered shares were valued at $102.33 each.
- Graham directly owns 750 shares of restricted stock granted on February 26, 2021, which vest in installments.
- He also directly owns 34,000 shares of restricted stock granted on February 26, 2021, which vest upon the company's stock price reaching $140 for 30 consecutive days.
- Additionally, Graham directly owns 22,480 shares of common stock.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard executive compensation practices. It doesn't indicate any particularly positive or negative sentiment.
Future Outlook
The document outlines the vesting schedule and conditions for restricted stock grants, indicating potential future increases in Graham's share ownership based on time and stock performance.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors. This filing indicates standard compensation practices involving restricted stock.
Comparison to Industry Standards
- Restricted stock grants are a common form of executive compensation in publicly traded companies, aligning management's interests with those of shareholders.
- Vesting schedules tied to time and performance metrics are also standard practice.
- Companies like Progressive, Allstate, and Travelers also utilize similar stock-based compensation plans for their executives.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
- It assures stakeholders that executives' interests are aligned with the company's performance through stock-based compensation.
Key Dates
| Date | Description |
|---|---|
| 05/26/2020 | Effective date of restricted stock grant of 3,500 shares. |
| 02/26/2021 | Effective date of restricted stock grants of 3,000 and 34,000 shares. |
| 05/20/2024 | Date of transaction: surrender of shares for tax liability. |
| 05/22/2024 | Date of signature on the Form 4 filing. |
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