Gregory Politis
HCI GroupAbout Gregory Politis
Independent director since 2007; age 73; founder of HCI Group; Lead Independent Director since 2017. President of Xenia Management Corporation (real estate portfolio management), with interests in 50+ developments across Florida and Montreal; Xenia is not affiliated with HCI. The Board affirmed his independence under NYSE rules, explicitly considering his father–son relationship with director Peter Politis. He holds a significant personal investment in HCI shares.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| HCI Group, Inc. | Director; Lead Independent Director | Director since 2007; Lead Independent since 2017 | Board leadership; liaison between independent directors and Chair; presides over executive sessions |
| Xenia Management Corporation | President | Founded 1988; active since 1974 in real estate | Portfolio owner/operator; experience aligned with HCI’s real estate initiatives |
| NorthStar Bank (Tampa, FL) | Director | Dates not disclosed | Banking oversight experience |
| Florida Bank (Tampa, FL) | Director | Dates not disclosed | Banking oversight experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Hellenic American Board of Entrepreneurs | Founding member | Not disclosed | Community/business leadership |
| Building Owners and Managers Association (BOMA) | Building of the Year Award recipient | Not disclosed | Industry recognition |
Board Governance
- Committee assignments (2024): Governance & Nominating Committee member; not a chair on any committee.
- Lead Independent Director responsibilities: presides when Chair absent; calls meetings of independent directors; principal liaison to Chair; available to shareholders; leads evaluation of CEO’s effectiveness as Chair/CEO.
- Independence: Board determined Gregory Politis is independent, considering father–son tie with Peter Politis.
- Attendance and engagement: Board held 13 meetings in 2024; each director attended at least 92% of meetings; committees met actively with near-total attendance (one Compensation Committee member at 83%).
Fixed Compensation
| Component (2024) | Amount | Notes |
|---|---|---|
| Cash fees | $100,000 | $25,000 per quarter; includes attendance at Board and committee meetings |
| All other compensation | $1,000 | Dividends paid on unvested restricted shares |
Performance Compensation
| Equity Award | Grant Date | Shares | Vesting | Grant-Date Fair Value |
|---|---|---|---|---|
| Restricted stock (service-based) | June 12, 2024 | 750 | Vests May 22, 2025 (service condition only) | $72,285 |
- Outstanding director equity (12/31/2024): 750 restricted shares; no options outstanding.
- No performance metrics tied to director equity grants (service-based vesting only).
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed in proxy biography for Gregory Politis |
| Prior boards | Director, NorthStar Bank; Director, Florida Bank (both Tampa, FL) |
| Potential interlocks | Familial tie: father of Peter Politis (independent director); Board explicitly assessed independence |
| Related-party transactions | Proxy discloses RPP reinsurance participation by Oxbridge (linked to director Jay Madhu); no related-party transactions disclosed for Gregory Politis |
Expertise & Qualifications
- Real estate development/ownership since 1974; extensive portfolio experience; focus on government-occupied properties.
- Business and management oversight skills; real estate experience relevant to HCI’s significant real estate investments.
- Industry/community recognition: BOMA award; founding member, Hellenic American Board of Entrepreneurs.
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Components/Notes |
|---|---|---|---|
| Gregory Politis | 413,132 | 3.84% | Includes 200,000 shares held by Gregory & Rena Politis; 750 restricted shares |
| Director ownership guideline | Requirement | Status | |
| New directors must acquire ≥$200,000 of HCI stock within 5 years and hold until Board retirement | Gregory Politis substantially exceeds the guideline via 413,132 shares |
- Vested vs unvested: 750 restricted shares unvested at 12/31/2024, scheduled to vest May 22, 2025.
- Pledging/hedging: Anti-hedging policy prohibits derivative hedging by directors; no pledge disclosures for Gregory Politis.
Governance Assessment
- Alignment: Significant personal ownership (3.84%) and director equity participation support alignment with shareholders; compliance far above director ownership guideline.
- Independence and oversight: Lead Independent Director role enhances accountability and Board effectiveness (executive session leadership, CEO evaluation, shareholder liaison).
- Committee contributions: Governance & Nominating membership situates him at the core of director selection, independence vetting, and governance principles.
- Attendance/engagement: Active Board cadence (13 meetings) with ≥92% attendance per director indicates high engagement; committee attendance largely 100%.
- Potential conflicts/RED FLAGS:
- Father–son relationship on Board (Gregory and Peter Politis) may raise perceived independence concerns; Board explicitly evaluated and affirmed independence.
- Extensive real estate interests while HCI pursues real estate investments could present situational conflicts; no related-party transactions involving Gregory Politis disclosed.
- Director pay structure: Balanced cash ($100k) plus annual service-based restricted stock (750 shares; $72,285 FV); no option grants or performance metrics tied to director pay—reduces pay complexity but provides limited performance linkage beyond share price sensitivity.
Net takeaway for investors: Gregory Politis is a long-tenured, independent director with meaningful skin-in-the-game and formal Board leadership as Lead Independent Director, supporting oversight quality and shareholder alignment. The familial tie to another independent director and his external real estate activities are monitoring points, though current disclosures show independence determinations and no related-party transactions tied to him.