In 2023, Paresh Patel earned $2.72M in total compensation at HCI Group, including $950.00K salary, $800.00K bonus and $933.40K in stock. Most recently acquired 1,000 shares in Aug 2022. Currently holds stock worth $176.90M. Has led HCI Group for over 18 years.
Compensation History
Annual executive compensation data for Paresh Patel, including salary, bonuses, and stock awards.
Year
2023
Total Compensation
$2.72M
Salary
$950.00K
Bonus
$800.00K
Other
$37.85K
Salary
$950.00KBoard Justification
The compensation program is designed to align the interests of executives with those of shareholders through a balanced mix of cash and long-term equity-based incentives, with a focus on performance.
Bonus
$800.00KBoard Justification
The bonus was awarded based on earnings before income taxes on a consolidated basis, with a threshold of $35 million for 2023 earnings, resulting in a maximum cash bonus of $2.4 million, awarded in three equal installments starting April 1, 2024.
Other Compensation
$37.85KBoard Justification
Other compensation includes cash dividends on unvested restricted stock and contributions to the 401(k) Plan.
Restricted Stock
Board Justification
Mr. Patel's vested stock consists of 20,000 shares from HCI and 51,553 shares from TypTap Insurance Group, which vested in 2023.
Performance Metrics
The performance metrics include earnings before income taxes and total shareholder return.
Paresh Patel
CEO of HCI Group
Field of Expertise
Finance & Banking - Insurance
Sector of Economy
Financial Services
CEO of HCI Group for
18 years 11 months (Jan 2007 - Present)
Previous Experience
Unknown
Holdings
Track Paresh Patel's stock holdings and portfolio value over time.
Insider Trading
Paresh Patel's recent stock transactions, purchases, and sales filed with the SEC.
$51.08K
HCI at $51.08/share
Aug 23, 2022
Purchase
$103.80K
HCI at $69.20/share
Apr 5, 2022
Purchase
$288.39K
HCI at $41.20/share
Mar 13, 2019
Purchase
$52.91K
HCI at $52.91/share
Nov 26, 2018
Purchase
Rivals
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