FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
Homeowners Choice, Inc. [ HCII ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 10/16/2012 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common stock | 800 | D(1) | ||||||||
Common stock | 10/16/2012 | C | 400 | A | $9.1(2) | 1,200 | I | By Self as Custodian for niece, Elliana Tuite | ||
Common stock | 10/16/2012 | C | 400 | A | $9.1(2) | 1,200 | I | By Self as Custodian for nephew, Nolan Tuite | ||
Common stock | 80,000 | I | By HC Investment LLC(3) | |||||||
Common stock | 10/16/2012 | C | 400 | A | $9.1(2) | 400 | I | By Self and Maria Saravanos as Custodian for son, Kostos Anthony Saravanos |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Option (Right to Buy)(4) | $2.5 | (5) | 05/31/2017 | Common | 30,000 | 30,000 | D | ||||||||
Stock Warrant (Right to Buy) | $9.1(6) | 10/16/2012 | C | 800(6) | 07/30/2008 | 07/30/2013 | Common | 400(6) | $0.00(6) | 0 | I | By Self as Custodian for niece, Elliana Tuite | |||
Stock Warrant (Right to Buy) | $9.1(6) | 10/16/2012 | C | 800(6) | 07/30/2008 | 07/30/2013 | Common | 400(6) | $0.00(6) | 0 | I | By Self as Custodian for nephew, Nolan Tuite | |||
Stock Warrant (Right to Buy) | $9.1(6) | 10/16/2012 | C | 800(6) | 07/30/2008 | 07/30/2013 | Common | 400(6) | $0.00(6) | 0 | D(1) |
Explanation of Responses: |
1. Shares held jointly with spouse. |
2. Two warrants may be exercised to acquire one share of common stock at an exercise price equal to $9.10 per share. |
3. The reporting person holds voting and investment power of the 80,000 shares held by HC Investment LLC. |
4. The options were granted pursuant to the Homeowners Choice, Inc. 2007 Stock Option and Incentive Plan. |
5. Commencing on May 1, 2008 and continuing on the same day of each calendar year thereafter through and including May 1, 2010, the amount of 10,000 options will vest and become exercisable on each such annual vesting date. |
6. In connection with the Homeowners Choice, Inc. initial public offering ("IPO"), 800 units were purchased on 7/25/08 at a price of $7.00 per unit, with each unit consisting of one share of common stock and one warrant. Two warrants may be exercised to acquire one share of common stock at an exercise price equal to $9.10 per share. The warrants may be exercised any time after the closing of the IPO up to five years after the July 30, 2008 IPO closing date. |
Remarks: |
/s/ Cathy J. Welch as Attorney-in-fact for Anthony Saravanos | 10/22/2012 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |