HCI Group (NYSE: HCI) sets 2026 executive salaries and 2025 bonuses

Rhea-AI Filing Summary

HCI Group, Inc. reported that its compensation committee approved new cash bonuses for key executives for 2025 and set higher base salaries effective January 1, 2026. Chief Executive Officer Paresh Patel will receive a base salary of $950,000 and a cash bonus of $3,200,000. Chief Operating Officer Karin Coleman will receive a base salary of $700,000 and a $250,000 bonus, while Chief Financial Officer James Mark Harmsworth will receive a $625,000 salary and a $250,000 bonus.

General Counsel Andrew L. Graham will have a base salary of $450,000 and a $250,000 bonus, and Anthony Saravanos, President - Real Estate Division, will have a $400,000 salary and a $200,000 bonus. The bonuses will be paid before December 31, 2025, and were based on advancement of strategic initiatives during 2025. In addition, Ms. Coleman, Mr. Harmsworth, and Mr. Graham were each granted 1,251 shares of common stock vesting over three years, and Mr. Saravanos received 621 shares vesting over three years.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): December 11, 2025

HCI GROUP, INC.

(Exact name of registrant as specified in its charter)

Florida		01-34126		20-5961396
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification Number)
3802 Coconut Palm Drive Tampa, Florida 33619
(Address of Principal Executive Offices)

Registrant’s telephone number, including area code:

(813) 849-9500

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrants under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock		HCI		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Compensatory Arrangements of Certain Officers

On December 11, 2025, our compensation committee awarded cash bonuses and established new annual salaries, effective January 1, 2026, to certain of our executives, including “named executive officers,” as set forth below.

		Base Salary				Cash Bonus
Name and Title		($)				($)
Paresh Patel, Chief Executive Officer			950,000				3,200,000
Karin Coleman, Chief Operating Officer			700,000				250,000
James Mark Harmsworth, Chief Financial Officer			625,000				250,000
Andrew L. Graham, General Counsel			450,000				250,000
Anthony Saravanos, President - Real Estate Division			400,000				200,000

The cash bonuses will be paid before December 31, 2025. In considering these awards, the compensation committee considered the advancement of numerous strategic initiatives during 2025.

In addition, Ms. Coleman, Mr. Harmsworth, and Mr. Graham were each awarded 1,251 shares of our common stock, which vest in equal installments over three years. Mr. Saravanos was awarded 621 shares of our common stock, which vest in equal installments over three years.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	HCI GROUP, INC.
Date: December 19, 2025	By:		/s/ Andrew L. Graham
			Andrew L. Graham General Counsel

FAQ

What executive compensation changes did HCI (HCI) approve on December 11, 2025?

HCI Group, Inc. approved new base salaries effective January 1, 2026, and cash bonuses for several executives, including its CEO, COO, CFO, General Counsel, and President - Real Estate Division, based on strategic progress in 2025.

How much cash bonus will HCI (HCI) CEO Paresh Patel receive for 2025?

Chief Executive Officer Paresh Patel was awarded a cash bonus of $3,200,000, with payment to be made before December 31, 2025.

What are the new base salaries for HCI (HCI) senior executives?

Effective January 1, 2026, base salaries are $950,000 for CEO Paresh Patel, $700,000 for COO Karin Coleman, $625,000 for CFO James Mark Harmsworth, $450,000 for General Counsel Andrew L. Graham, and $400,000 for President - Real Estate Division Anthony Saravanos.

Did HCI (HCI) grant equity awards to its executives in this filing?

Yes. Karin Coleman, James Mark Harmsworth, and Andrew L. Graham each received 1,251 shares of common stock vesting in equal installments over three years, and Anthony Saravanos received 621 shares vesting over three years.

When will the HCI (HCI) executive cash bonuses be paid?

The cash bonuses awarded to the executives will be paid before December 31, 2025.

What did HCI (HCI) consider when awarding these bonuses and salary changes?

The compensation committee stated that it considered the advancement of numerous strategic initiatives during 2025 when determining these bonus awards and salary levels.