HCI Group, Inc. Files Definitive Proxy Statement (DEF 14A)

Ticker: HCIIP · Form: DEF 14A · Filed: Apr 29, 2024 · CIK: 1400810

Hci Group, Inc. DEF 14A Filing Summary
FieldDetail
CompanyHci Group, Inc. (HCIIP)
Form TypeDEF 14A
Filed DateApr 29, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$85 million, $89.3 million, $7.62, $421 million, $13.8 million
Sentimentneutral

Sentiment: neutral

Topics: DEF 14A, Proxy Statement, HCI Group, Executive Compensation, Shareholder Meeting

TL;DR

<b>HCI Group, Inc. has filed its Definitive Proxy Statement (DEF 14A) detailing executive compensation and corporate governance matters.</b>

AI Summary

HCI Group, Inc. (HCIIP) filed a Proxy Statement (DEF 14A) with the SEC on April 29, 2024. HCI Group, Inc. filed a Definitive Proxy Statement (DEF 14A) on April 29, 2024. The filing covers the period ending June 11, 2024. The company's principal executive offices are located at 3802 Coconut Palm Drive, Tampa, FL 33619. HCI Group, Inc. was formerly known as Homeowners Choice, Inc., with a name change effective May 24, 2007. The filing includes data related to stock or option awards granted and vested, forfeited, or remaining unvested for the years 2020, 2021, and 2022.

Why It Matters

For investors and stakeholders tracking HCI Group, Inc., this filing contains several important signals. This DEF 14A filing is crucial for shareholders to understand executive compensation structures and make informed voting decisions at the upcoming annual meeting. The detailed breakdown of stock and option awards provides insight into the company's incentive programs and how they align with performance and shareholder value.

Risk Assessment

Risk Level: low — HCI Group, Inc. shows low risk based on this filing. The filing is a routine DEF 14A, which is standard for public companies and does not indicate any unusual financial or operational distress.

Analyst Insight

Shareholders should review the executive compensation details and any proposed resolutions to prepare for the upcoming annual meeting.

Key Numbers

  • 2024-04-29 — Filing Date (DEF 14A filing date)
  • 2024-06-11 — Period of Report (Conformed period of report)
  • 2023-12-31 — Fiscal Year End (Company's fiscal year end)
  • 2020-01-01 to 2022-12-31 — Data Period (Years for which stock award data is provided)

Key Players & Entities

  • HCI Group, Inc. (company) — Filer name
  • DEF 14A (filing) — Form type
  • 2024-04-29 (date) — Filing date
  • 2024-06-11 (date) — Period of report
  • 3802 Coconut Palm Drive, Tampa, FL 33619 (address) — Business address
  • Homeowners Choice, Inc. (company) — Former company name
  • 2007-05-24 (date) — Date of name change

FAQ

When did HCI Group, Inc. file this DEF 14A?

HCI Group, Inc. filed this Proxy Statement (DEF 14A) with the SEC on April 29, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by HCI Group, Inc. (HCIIP).

Where can I read the original DEF 14A filing from HCI Group, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by HCI Group, Inc..

What are the key takeaways from HCI Group, Inc.'s DEF 14A?

HCI Group, Inc. filed this DEF 14A on April 29, 2024. Key takeaways: HCI Group, Inc. filed a Definitive Proxy Statement (DEF 14A) on April 29, 2024.. The filing covers the period ending June 11, 2024.. The company's principal executive offices are located at 3802 Coconut Palm Drive, Tampa, FL 33619..

Is HCI Group, Inc. a risky investment based on this filing?

Based on this DEF 14A, HCI Group, Inc. presents a relatively low-risk profile. The filing is a routine DEF 14A, which is standard for public companies and does not indicate any unusual financial or operational distress.

What should investors do after reading HCI Group, Inc.'s DEF 14A?

Shareholders should review the executive compensation details and any proposed resolutions to prepare for the upcoming annual meeting. The overall sentiment from this filing is neutral.

How does HCI Group, Inc. compare to its industry peers?

HCI Group, Inc. operates in the FIRE, MARINE & CASUALTY INSURANCE industry, specifically within property and casualty insurance.

Are there regulatory concerns for HCI Group, Inc.?

As a publicly traded company, HCI Group, Inc. is subject to SEC regulations, including the requirement to file a Definitive Proxy Statement (DEF 14A) for shareholder communication and voting.

Industry Context

HCI Group, Inc. operates in the FIRE, MARINE & CASUALTY INSURANCE industry, specifically within property and casualty insurance.

Regulatory Implications

As a publicly traded company, HCI Group, Inc. is subject to SEC regulations, including the requirement to file a Definitive Proxy Statement (DEF 14A) for shareholder communication and voting.

What Investors Should Do

  1. Review the detailed executive compensation tables and disclosures.
  2. Understand the proposals to be voted on at the shareholder meeting.
  3. Assess any changes in corporate governance practices outlined in the filing.

Year-Over-Year Comparison

This filing is a DEF 14A, which is a standard annual disclosure, and does not represent a change from previous filing types.

Filing Stats: 4,471 words · 18 min read · ~15 pages · Grade level 13.5 · Accepted 2024-04-29 16:16:14

Key Financial Figures

  • $85 million — ated a common stock offering generating $85 million in proceeds. During 2023, book value pe
  • $89.3 million — increase in revenue, year over year $89.3 million net income in 2023, or $7.62 earnings
  • $7.62 — $89.3 million net income in 2023, or $7.62 earnings per diluted common share $42
  • $421 million — .62 earnings per diluted common share $421 million returned to shareholders since inceptio
  • $13.8 million — 4 consecutive quarters of dividends $13.8 million of dividends paid in 2023 76% incre
  • $33.36 — 6% increase in book value per share, to $33.36 at December 31, 2023 from $18.91 at Dec
  • $18.91 — re, to $33.36 at December 31, 2023 from $18.91 at December 31, 2022 HCI Group, Inc.
  • $100 million — f Centerbridge Partners, which invested $100 million in the Company's subsidiary, TypTap Ins

Filing Documents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS 62 APPENDIX Appendix A: Reconciliation of Non-GAAP Financial Measures A-1 Table of Contents PROXY STATEMENT SUMMARY This summary highlights information that can be found elsewhere in this Proxy Statement. It does not contain all the information that you should consider. You should read the entire Proxy Statement before voting. Information About the Annual Meeting Annual Meeting of Shareholders Time/Date 3 p.m. Eastern time on Tuesday, June 11, 2024 Place HCI Corporate Headquarters, 3802 Coconut Palm Drive, Tampa, Florida 33619 Record Date April 15, 2024 Mailing Date We began mailing this Proxy Statement on or about April 30, 2024 Items of Business Item The Board's Recommendation Page 1)To elect Class A directors Vote FOR All 8 2)To ratify the appointment of FORVIS, LLP as our independent registered public accounting firm for the year ending December 31, 2024 Vote FOR 26 3)To approve, on an advisory basis, the compensation of our named executive officers Vote FOR 28 We do not anticipate that any other business matters will be brought before the meeting for a vote. However, if any other matters are presented, it is the intention of the persons named in the proxy card accompanying this proxy statement to vote the proxy as recommended by the Board of Directors or, if no recommendation is given, in their own discretion using their best judgment. How to Vote By Internet By Phone By Mail In Person www.proxyvote.com Call the phone number listed on your proxy card Follow the instructions on your proxy card Vote by ballot at our Annual Meeting Call the phone number listed on your proxy card or HCI's proxy advisor, Alliance Advisors LLC, at 844-618-1694 (toll free in the United States). HCI Group, Inc. 2024 Proxy Statement 1 Table of Contents PROXY STATEMENT SUMMARY Annual Meeting Rules of Conduct To ensure fair, orderly and constructive meetings, the Board of Dire

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