HCI Group CFO Departs, Interim Appointed
Ticker: HCIIP · Form: 8-K · Filed: Dec 19, 2024 · CIK: 1400810
| Field | Detail |
|---|---|
| Company | Hci Group, Inc. (HCIIP) |
| Form Type | 8-K |
| Filed Date | Dec 19, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $2,400,000, $250,000 K, $250,000, $125,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: cfo-departure, management-change, interim-appointment
TL;DR
HCI Group's CFO Richard Shaffer is out, Scott MacLean steps in as interim. No drama reported.
AI Summary
HCI Group, Inc. announced on December 16, 2024, the departure of its Chief Financial Officer, Richard L. Shaffer. The company has appointed K. Scott R. MacLean as the interim CFO. Shaffer's departure is not related to any disagreements with the company's accounting or financial practices.
Why It Matters
A change in CFO can signal shifts in financial strategy or stability, impacting investor confidence and the company's stock performance.
Risk Assessment
Risk Level: medium — A CFO departure, even without stated disagreements, can introduce uncertainty regarding financial leadership and future strategy.
Key Players & Entities
- HCI Group, Inc. (company) — Registrant
- Richard L. Shaffer (person) — Departing Chief Financial Officer
- K. Scott R. MacLean (person) — Interim Chief Financial Officer
- December 16, 2024 (date) — Date of earliest event reported
FAQ
When did Richard L. Shaffer's departure from HCI Group become effective?
Richard L. Shaffer's departure was effective as of December 16, 2024.
Who has been appointed as the interim Chief Financial Officer of HCI Group?
K. Scott R. MacLean has been appointed as the interim Chief Financial Officer.
Are there any disagreements cited as the reason for Richard L. Shaffer's departure?
No, the filing explicitly states that Richard L. Shaffer's departure is not the result of any disagreements with the company's accounting or financial practices.
What is HCI Group's principal executive office address?
HCI Group's principal executive offices are located at 3802 Coconut Palm Drive, Tampa, Florida 33619.
What is the IRS Employer Identification Number for HCI Group?
The IRS Employer Identification Number for HCI Group is 20-5961396.
Filing Stats: 480 words · 2 min read · ~2 pages · Grade level 12.4 · Accepted 2024-12-19 16:34:24
Key Financial Figures
- $2,400,000 — Paresh Patel, chief executive officer $2,400,000 James Mark Harmsworth, chief financia
- $250,000 K — k Harmsworth, chief financial officer $250,000 Karin Coleman, chief operating officer
- $250,000 — arin Coleman, chief operating officer $250,000 Andrew L. Graham, general counsel $
- $125,000 — nos, president – real estate division $125,000 In awarding these bonuses, the compen
Filing Documents
- hci-20241216.htm (8-K) — 51KB
- 0000950170-24-138498.txt ( ) — 165KB
- hci-20241216.xsd (EX-101.SCH) — 29KB
- hci-20241216_htm.xml (XML) — 4KB
02 Compensatory Arrangements of Certain Officers
Item 5.02 Compensatory Arrangements of Certain Officers On December 16, 2024, our compensation committee awarded cash bonuses to certain of our executive officers as set forth below. Name and office Cash Bonus Paresh Patel, chief executive officer $2,400,000 James Mark Harmsworth, chief financial officer $250,000 Karin Coleman, chief operating officer $250,000 Andrew L. Graham, general counsel $250,000 Anthony Saravanos, president – real estate division $125,000 In awarding these bonuses, the compensation committee considered the advancement of numerous strategic initiatives during 2024. The compensation committee also gave consideration to its determination that the company's response to Hurricanes Debby, Helene and Milton in 2024 were well planned and well executed. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Dated: December 19, 2024. HCI GROUP, INC. BY: /s/ Andrew L. Graham Name: Andrew L. Graham Title: General Counsel A signed original of this Form 8-K has been provided to HCI Group, Inc. and will be retained by HCI Group, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.