As filed with the Securities and Exchange Commission on July 19, 2024
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
UNIVERSAL INSURANCE HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
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Delaware
(State or Other Jurisdiction of Incorporation or Organization) | 65-0231984 (I.R.S. Employer Identification No.) |
1110 W. Commercial Blvd.
Fort Lauderdale, Florida 33309
(Address of Principal Executive Offices, Zip Code)
AMENDED AND RESTATED UNIVERSAL INSURANCE HOLDINGS, INC. 2021 OMNIBUS INCENTIVE PLAN
(Full title of the plan)
Stephen J. Donaghy
Chief Executive Officer
Universal Insurance Holdings, Inc.
1110 W. Commercial Blvd.
Fort Lauderdale, Florida 33309
(954) 958-1200
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Copy to:
Krista Hanvey
Gibson, Dunn & Crutcher LLP
2001 Ross Avenue, Suite 2100
Dallas, Texas 75201
(214) 698-3100
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Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
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| Large accelerated filer | | Accelerated filer | ☒ |
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| Non-accelerated filer | | Smaller reporting company | |
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| | Emerging growth company | |
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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 7(a)(2)(B) of the Securities Act. |
EXPLANATORY NOTE
This Registration Statement on Form S-8 is being filed by Universal Insurance Holdings, Inc. (the “Registrant”) pursuant to General Instruction E to Form S-8, under the Securities Act of 1933, as amended, to register up to 1,450,000 shares of common stock, par value $0.01 per share (“Common Stock”), issuable under the Amended and Restated Universal Insurance Holdings, Inc. 2021 Omnibus Incentive Plan (the “Plan”). The Registrant’s stockholders approved the Plan on June 13, 2024, which, among other things, increased the number of shares available for issuance under the Plan by 1,450,000 shares of Common Stock. This Registration Statement on Form S-8 relates to the additional 1,450,000 shares of Common Stock authorized to be issued under the Plan.
The information contained in the Registrant’s registration statement on Form S-8 filed with the Securities and Exchange Commission on July 14, 2021 (SEC File No. 333-257896), together with all exhibits filed therewith or incorporated therein by reference, is hereby incorporated by reference pursuant to General Instruction E to Form S-8, and the shares of Common Stock registered hereunder are in addition to the shares of Common Stock registered on such registration statement. Item 8. Exhibits.
Exhibit No. Exhibit Description
23.1* Consent of Gibson, Dunn & Crutcher LLP (included in Exhibit 5.1).
24.1* Power of Attorney (included on the signature page of this Registration Statement).
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*Filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Fort Lauderdale, State of Florida, on this 19th day of July, 2024.
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| UNIVERSAL INSURANCE HOLDINGS, INC. |
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By: | /s/ Stephen J. Donaghy |
Name: | Stephen J. Donaghy |
| Title: | Chief Executive Officer |
POWER OF ATTORNEY
Each person whose signature appears below appoints Stephen J. Donaghy and Frank C. Wilcox, and each of them, any of whom may act without the joinder of the other, as his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement and to file the same, with all exhibits thereto, and all other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he or she might or would do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them or their or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities indicated on the dates indicated.
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| Signature | Title | Date |
/s/Stephen J. Donaghy ______________________
Stephen J. Donaghy | Chief Executive Officer and Director (Principal Executive Officer) | July 19, 2024 |
/s/ Frank C. Wilcox _____________________
Frank C. Wilcox | Chief Financial Officer (Principal Financial Officer) | July 19, 2024 |
/s/ Gary Lloyd Ropiecki _____________________
Gary Lloyd Ropiecki | Corporate Secretary and Principal Accounting Officer (Principal Accounting Officer) | July 19, 2024 |
/s/ Sean P. Downes ______________________
Sean P. Downes | Executive Chairman | July 19, 2024 |
/s/ Kimberly D. Campos ______________________
Kimberly D. Campos | Chief Administrative Officer, Chief Information Officer and Director | July 19, 2024 |
/s/ Carol G. Barton ______________________
Carol G. Barton | Director | July 19, 2024 |
/s/ Shannon A. Brown ______________________
Shannon A. Brown | Director | July 19, 2024 |
/s/ Scott P. Callahan ______________________
Scott P. Callahan | Director | July 19, 2024 |
/s/ Marlene M. Gordon ______________________
Marlene M. Gordon | Director | July 19, 2024 |
/s/ Francis X. McCahill, III ______________________
Francis X. McCahill, III | Director | July 19, 2024 |
/s/ Richard D. Peterson ______________________
Richard D. Peterson | Director | July 19, 2024 |
/s/ Michael A. Pietrangelo ______________________
Michael A. Pietrangelo | Director | July 19, 2024 |
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/s/ Ozzie A. Schindler ______________________
Ozzie A. Schindler | Director | July 19, 2024 |
/s/ Jon W. Springer ______________________
Jon W. Springer | Director | July 19, 2024 |
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Exhibit 107.1
Calculation of Filing Fee Tables
FORM S-8
(Form Type)
UNIVERSAL INSURANCE HOLDINGS, INC.
(Exact Name of Registrant as Specified in its Charter)
Table 1: Newly Registered Securities
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| Security Type | Security Class Title (1) | Fee Calculation Rule (2) | Amount Registered | Proposed Maximum
Offering Price Per Unit | Maximum
Aggregate
Offering Price | Fee Rate | Amount of
Registration Fee |
| Equity | Common stock, par value $0.01 per share | Rule 457(a) | 1,450,000 (3) | $18.84 | $27,318,000 | $147.60 per $1,000,000 | $4,032.14 |
| Total Offering Amounts |
| $27,318,000 | | $4,032.14 |
| Total Fee Offsets |
|
| | — |
| Net Fee Due |
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| $4,032.14 |
(1) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the “Securities Act”), this Registration Statement on Form S-8 shall also cover such indeterminate number of additional shares of common stock, par value $0.01 per share, of the Registrant (the “Common Stock”) as may become issuable to prevent dilution in the event of stock splits, stock dividends or similar transactions pursuant to the terms of the Amended and Restated Universal Insurance Holdings, Inc. 2021 Omnibus Incentive Plan (as amended, the “Plan”).
(2) Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and (h) of the Securities Act, and based on the average of the high and low sale prices of the Common Stock, as quoted on the New York Stock Exchange, on July 12, 2024.
(3) Represents 1,450,000 shares of Common Stock authorized to be issued under the Plan.
July 19, 2024
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Universal Insurance Holdings, Inc. 1110 W. Commercial Blvd. Fort Lauderdale, Florida 33309 |
Re: Universal Insurance Holdings, Inc. Registration Statement on Form S-8
Ladies and Gentlemen:
We have examined the Registration Statement on Form S-8 (the “Registration Statement”) of Universal Insurance Holdings, Inc., a Delaware corporation (the “Company”), to be filed with the Securities and Exchange Commission (the “Commission”) pursuant to the Securities Act of 1933, as amended (the “Securities Act”), in connection with the offering by the Company of up to 1,450,000 shares of the Company’s common stock, par value $0.01 per share (the “Shares”), under the Amended And Restated Universal Insurance Holdings, Inc. 2021 Omnibus Incentive Plan (as amended, the “Plan”).
We have examined the originals, or photostatic or certified copies, of such records of the Company and certificates of officers of the Company and of public officials and such other documents as we have deemed relevant and necessary as the basis for the opinions set forth below. In our examination, we have assumed the genuineness of all signatures, the legal capacity and competency of all natural persons, the authenticity of all documents submitted to us as originals and the conformity to original documents of all documents submitted to us as copies. We have also assumed that there are no agreements or understandings between or among the Company and any participants in the Plan that would expand, modify or otherwise affect the terms of the Plan or the respective rights or obligations of the participants thereunder. Finally, we have assumed the accuracy of all other information provided to us by the Company during the course of our investigations, on which we have relied in issuing the opinion expressed below.
Based upon the foregoing examination and in reliance thereon, and subject to the qualifications, assumptions and limitations stated herein and in reliance on the statements of fact contained in the documents that we have examined, we are of the opinion that the Shares, when issued and sold in accordance with the terms set forth in the Plan, as applicable, and against payment therefor in accordance with the terms of the form of agreement documenting the awards under which the Shares may be issued, and when the Registration Statement has become effective under the Securities Act, will be validly issued, fully paid and non-assessable.
We render no opinion herein as to matters involving the laws of any jurisdiction other than the Delaware General Corporation Law (the “DGCL”). This opinion is limited to the effect of the current state of the DGCL and the facts as they currently exist. We assume no obligation to revise or supplement this opinion in the event of future changes in such law or the interpretations thereof or such facts. We express no opinion regarding any state securities laws or regulations.
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We consent to the filing of this opinion as an exhibit to the Registration Statement, and we further consent to the use of our name in the Registration Statement and the prospectus that forms a part thereof. In giving these consents, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the Rules and Regulations of the Commission.
Very truly yours,
/s/ Gibson, Dunn & Crutcher LLP
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Abu Dhabi ñ Beijing ñ Brussels ñ Century City ñ Dallas ñ Denver ñ Dubai ñ Frankfurt ñ Hong Kong ñ Houston ñ London ñ Los Angeles
Munich ñ New York ñ Orange County ñ Palo Alto ñ Paris ñ Riyadh ñ San Francisco ñ Singapore ñ Washington, D.C. |
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We hereby consent to the incorporation by reference in this Registration Statement on Form S-8, to be filed on or around July 19, 2024, of our report dated February 28, 2024 relating to the consolidated financial statements, which appear in Universal Insurance Holdings, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the U.S. Securities and Exchange Commission on February 28, 2024.
/s/ Plante & Moran, PLLC
East Lansing, Michigan
July 19, 2024
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