American Coastal Insurance Corp. Schedules 2024 Annual Meeting of Stockholders

TL;DR

<b>American Coastal Insurance Corporation will hold its 2024 Annual Meeting of Stockholders virtually on May 14, 2024, allowing online participation and Q&A.</b>

AI Summary

AMERICAN COASTAL INSURANCE Corp (ACIC) filed a Proxy Statement (DEF 14A) with the SEC on April 2, 2024. The 2024 Annual Meeting of Stockholders for American Coastal Insurance Corporation (ACIC) will be held online on May 14, 2024, at 1:00 p.m. ET. The meeting will be conducted via live audio webcast at www.virtualshareholdermeeting.com/ACIC2024. Stockholders can participate, hear, and ask questions during the virtual meeting. The proxy statement provides important information regarding matters to be acted upon at the meeting. The company's 2023 annual report is being made available to stockholders.

Why It Matters

For investors and stakeholders tracking AMERICAN COASTAL INSURANCE Corp, this filing contains several important signals. The virtual format allows for broader participation from stockholders regardless of location, facilitating engagement with company management. The annual meeting is a key event for shareholders to understand company performance, vote on important matters, and influence corporate governance.

Risk Assessment

Risk Level: low — AMERICAN COASTAL INSURANCE Corp shows low risk based on this filing. The filing is a routine proxy statement for an annual meeting, with no immediate financial or operational changes indicated.

Analyst Insight

Review the proxy statement to understand the agenda for the annual meeting and any proposals requiring a shareholder vote.

Key Numbers

• 2024 — Annual Meeting Year (Annual Meeting of Stockholders)
• May 14 — Meeting Date (Annual Meeting of Stockholders)
• 1:00 p.m. ET — Meeting Time (Annual Meeting of Stockholders)
• 2023 — Annual Report Year (Company's 2023 annual report)

Key Players & Entities

• AMERICAN COASTAL INSURANCE Corp (company) — Registrant name
• ACIC (company) — Abbreviation for American Coastal Insurance Corporation
• May 14, 2024 (date) — Date of the Annual Meeting of Stockholders
• 1:00 p.m. Eastern Time (time) — Time of the Annual Meeting of Stockholders
• www.virtualshareholdermeeting.com/ACIC2024 (url) — Web address for the virtual meeting
• 2023 (date) — Year of the annual report
• UNITED INSURANCE HOLDINGS CORP. (company) — Former company name
• FMG ACQUISITION CORP (company) — Former company name

FAQ

Industry Context

American Coastal Insurance Corporation operates in the property and casualty insurance sector, focusing on providing insurance solutions.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, specifically Schedule 14A, which governs the solicitation of proxies.

What Investors Should Do

1. Access the virtual meeting link provided in the proxy statement.
2. Review the agenda and proposals for the Annual Meeting of Stockholders.
3. Prepare any questions for the Q&A session during the virtual meeting.

Key Dates

• 2024-05-14: Annual Meeting of Stockholders — Key date for shareholder participation and voting.
• 2024-04-02: Filing Date — Date the definitive proxy statement was filed with the SEC.

Year-Over-Year Comparison

This filing is a definitive proxy statement (DEF 14A) for the 2024 annual meeting, indicating the company is proceeding with its annual shareholder engagement and governance processes.

Filing Documents

• acicproxy2024.htm (DEF 14A) — 1068KB
• a1.jpg (GRAPHIC) — 44KB
• chart-b876d7f364f3417abf3.jpg (GRAPHIC) — 31KB
• image.jpg (GRAPHIC) — 21KB
• image1.jpg (GRAPHIC) — 20KB
• image2.jpg (GRAPHIC) — 18KB
• 0001401521-24-000030.txt (&nbsp;) — 1253KB

EXECUTIVE COMPENSATION 39

EXECUTIVE COMPENSATION 39 PAY VERSUS PERFORMANCE 47 CEO PAY RATIO 50 BENEFICIAL OWNERSHIP 50 Stock Ownership of Our Directors, Executive Officers and Certain Beneficial Owners 50 Delinquent Section 16(a) Reports 52 POLICIES AND PROCEDURES REGARDING RELATED PERSON TRANSACTIONS 53 CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS 53 DEADLINE FOR THE SUBMISSION OF STOCKHOLDER PROPOSALS AND DIRECTOR NOMINATIONS FOR THE 2025 ANNUAL MEETING OF STOCKHOLDERS 54 DELIVERY OF DOCUMENTS TO STOCKHOLDERS SHARING AN ADDRESS 54 OTHER INFORMATION 55 AMERICAN COASTAL INSURANCE CORPORATION PROXY STATEMENT FOR 2024 ANNUAL MEETING OF STOCKHOLDERS GENERAL INFORMATION CONCERNING THE ANNUAL MEETING AND VOTING You are invited to attend ACIC's Annual Meeting. This proxy statement (Proxy Statement) contains information about the Annual Meeting, including meeting logistics, matters up for vote, how to vote and answers to other frequently asked questions. The Notice of Annual Meeting of Stockholders is first being mailed to stockholders on or about April 3, 2024. The Notice provides stockholders with instructions on how to access the proxy materials online or request a paper or email copy, the proposals to be voted on at the Annual Meeting of Stockholders and instructions on how to vote. MEETING INFORMATION AGENDA DATE Elect the 5 Class B director nominees named in this Proxy Statement May 14, 2024 Your Board recommends a vote FOR each Class B director nominee TIME read more on page 6 100 p.m. Eastern Time Approve the American Coastal Insurance Corporation Amended and Restated 2020 Omnibus Incentive Plan LOCATION Your Board recommends a vote FOR this proposal Virtually via live webcast at read more on page 15 www.virtualshareholdermeeting.comACIC2024 Ratify the appointment of Deloitte Touche LLP (Deloitte) as our independent registered public accounting firm for fiscal 2024 ATTENDING THE WEBCAST To attend our virtual Annual Meeting and vote dur

Gender Identity

Part I Gender Identity Directors 0 9

Demographic Background

Part II Demographic Background White 0 9 On or prior to December 31, 2023, the Company was required to have at least one member of its Board who self-identifies as a female, underrepresented minority, or LGBTQ+ ("Diverse") pursuant to Rule 5605(f)(2) of the Nasdaq Stock Market or disclose why it does not meet this requirement. Our Board did not satisfy Nasdaq's board diversity objective. Although our Board composition does not fully reflect the diversity that we aspire to achieve, we were unable to identify Board nominees that qualify as Diverse, who possessed the skillset and qualifications the Board seeks, and who had an interest in serving on the Board prior to December 31, 2023. Given our small size, the 5 recent insolvency and receivership of our subsidiary, United Property and Casualty Insurance Company (UPC), and related business challenges, the Company was unsuccessful in attracting viable candidates. Our Company remains committed to promoting diversity and inclusion throughout our organization, including the Board of Directors. The Board is committed to increasing its diversity and realizes the potential benefits from new perspectives that could be gained through diversity within the Board's ranks, provided we can locate willing, qualified candidates. PROPOSAL ONE – ELECTION OF DIRECTORS PROPOSAL Our Board has nominated as Class B directors, for re-election at the Annual Meeting, Alec L. Poitevint, II, Kern M. Davis, M.D., William H. Hood, III, Sherrill W. Hudson, and Patrick F. Maroney. Each director nominee elected as a Class B director at our Annual Meeting will serve a two-year term until his successor is elected and qualified at our 2026 annual meeting of stockholders or until his earlier death, resignation or removal. Unless authority to vote for any of these nominees is withheld, the shares represented by the enclosed proxy will be voted "FOR" the election of each of Alec L. Poitevint, II, Kern M. Davis, M.D., William H. Hood, III, Sher

View Full Filing

View this DEF 14A filing on SEC EDGAR