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UVE > SEC Filings for UVE > Form 8-K on 6-Jan-2014All Recent SEC Filings

Show all filings for UNIVERSAL INSURANCE HOLDINGS, INC.

Form 8-K for UNIVERSAL INSURANCE HOLDINGS, INC.


6-Jan-2014

Entry into a Material Definitive Agreement, Regulation FD Disc


ITEM 1.01 Entry into a Material Definitive Agreement

On January 2, 2014, Universal Insurance Holdings, Inc. ("Company") entered into a repurchase agreement with Bradley I. Meier, the Company's former Chairman, President and Chief Executive Officer ("Repurchase Agreement"). Pursuant to the Repurchase Agreement, the Company agreed to repurchase 675,000 shares of the Company's common stock owned by Mr. Meier ("Shares"). The repurchase of the Shares occurred today for a repurchase price of approximately $11.11 per share, representing a discount from the current market price of the Company's common stock.

As previously disclosed, Mr. Meier granted the Company a right of first refusal on any future sale or transfer of his Company shares to a third party through December 31, 2014. Also as previously disclosed, the Company assigned a portion of its right of first refusal to RenaissanceRe Ventures Ltd. ("RenRe") in connection with a series of transactions with RenRe. RenRe declined to exercise its right of first refusal to repurchase a portion of the Shares.

The preceding summary of the Repurchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Repurchase Agreement, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.



ITEM 7.01 Regulation FD Disclosure

The Company is disclosing under Item 7.01 of this Current Report on Form 8-K information contained in the press release filed as Exhibit 99.1 to this report. The information furnished pursuant to, and incorporated by reference in, this Item 7.01 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended ("Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing.



ITEM 9.01 Financial Statements and Exhibits

(d)     Exhibits:

10.1    Repurchase Agreement, dated January 2, 2014, by and between Mr. Meier and
        the Company

99.1    Press release dated January 2, 2014


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