HCI Group sets CEO cash bonus plan tied to 2023 EBT threshold of $35M, awards 150K option

HCI Group, Inc.

CEO Paresh Patel eligible for cash bonus up to $2.4M if consolidated 2023 pre-tax earnings exceed $35M threshold.
Bonus paid in three equal installments through March 2026; forfeited if 2023 accident year claims materially exceed recorded losses.
Bonus subject to clawback upon restatement for material noncompliance; committee retains discretion to adjust.
Also granted option for 150K shares at $70, vesting when closing price exceeds $80 for 20 consecutive trading days, 10-year term.

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