secwatch.observer — SEC 8-K summary
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Issuer:     HCI Group, Inc. (HCI)
CIK:        0001400810
Form:       8-K
Filed at:   2023-09-21T23:59:59+00:00
Accession:  0000950170-23-049205
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1400810/000095017023049205/0000950170-23-049205-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1400810/000095017023049205/hci-20230915.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-049205

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