UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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 |
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Cash Bonus |
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Paresh Patel, chief executive officer |
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$2,400,000 |
James Mark Harmsworth, chief financial officer |
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$250,000 |
Karin Coleman, chief operating officer |
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$250,000 |
Andrew L. Graham, general counsel |
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$250,000 |
Anthony Saravanos, president – real estate division |
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$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.
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HCI GROUP, INC. |
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BY: |
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/s/ Andrew L. Graham |
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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.