HCI - HCI Group Announces Five-Year Employment Agreement with Chief Executive Officer | Benzinga
TAMPA, Fla., April 23, 2024 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE:HCI), a holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, announced today that it has entered into a new Executive Employment Agreement with its Chairman and Chief Executive Officer, Paresh Patel. The new agreement secures Mr. Patel's leadership for at least an additional five years.
Mr. Patel's proven success over HCI's 17-year history has seen the Company grow to over $1 billion in annual premium, with best-in-class performance in the industry. The new Employment Agreement includes a long-term equity incentive with a vesting threshold of $200 per share, representing a significant premium to HCI's current share price, assuring Mr. Patel remains highly incentivized to ...