Persaud Krishna 4
4 · Homeowners Choice, Inc. · Filed Jan 22, 2010
Insider Transaction Report
Form 4
Persaud Krishna
Director
Transactions
- Disposition to Issuer
Common stock
2010-01-20$1400000.00/sh−200,000$280,000,000,000→ 120,000 total(indirect: By LLC)
Holdings
- 80,000(indirect: By LLC)
Common stock
- 30,000
Stock Option (Right to Buy)
Exercise: $2.50From: 2010-05-31Exp: 2017-05-31→ Common (30,000 underlying)
Footnotes (4)
- [F1]These shares were redeemed by the issuer at a price of $7.00 per share on January 20, 2010 under a formal stock purchase agreement dated January 19, 2010 by and between Homeowners Choice, Inc ("HCII") and Homeowners Choice Holdings, LLC. The reporting person sold such shares to HCII to meet personal financial commitments as well as diversify his holdings.
- [F2]The reporting person holds voting and investment power of the remaining 120,000 shares, which are held by Homeowners Choice Holdings, LLC. Prior to the sale on January 20, 2010 of 200,000 shares, the reporting person held the voting and investment power of the 320,000 shares originally reported on Form 3 as held by Windsor Related Holdings, LLC. The reporting person subsequently transferred the 320,000 shares to Homeowners Choice Holdings, LLC.
- [F3]The options were granted pursuant to the Homeowners Choice, Inc. 2007 Stock Option and Incentive Plan.
- [F4]Commencing on May 1, 2008 and continuing on the same day of each calendar year thereafter through and including May 1, 2010, 10,000 options vested and become exercisable on each such annual vesting date.