Griffith Christopher Form 4 AMERICAN COASTAL INSURANCE / Christopher Griffith ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Griffith Christopher

(Last)

(First)

(Middle)

800 2ND AVE S

(Street)

ST PETERSBURG

33701

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
AMERICAN COASTAL INSURANCE Corp [ ACIC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
05/14/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/14/2024		M		27,944	A	$0	109,068	D
Common Stock	05/14/2024		F		8,383	D	$12.23	100,685	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽¹⁾	05/14/2024⁽²⁾		A		20,958		⁽³⁾	⁽³⁾	Common Stock	20,958	$0	53,310	D
Restricted Stock Units	⁽¹⁾	05/14/2024⁽⁴⁾		A		9,643		⁽³⁾	⁽³⁾	Common Stock	9,643	$0	62,953	D
Performance Stock Units	⁽¹⁾	05/14/2024⁽²⁾		A		41,917		⁽⁵⁾	⁽⁶⁾	Common Stock	41,917	$0	85,054	D
Performance Stock Units	⁽¹⁾	05/14/2024⁽⁴⁾		A		19,286		⁽⁵⁾	⁽⁶⁾	Common Stock	19,286	$0	104,340	D
Nonqualified Stock Options	$4.33	05/14/2024⁽²⁾		A		29,508		⁽⁷⁾	05/04/2033	Common Stock	29,508	$0	29,508	D
Nonqualified Stock Options	$10.37	05/14/2024⁽⁴⁾		A		12,870		⁽⁷⁾	04/03/2034	Common Stock	12,870	$0	12,870	D
Restricted Stock Units	⁽¹⁾	05/14/2024		M			6,986	⁽³⁾	⁽³⁾	Common Stock	6,986	$0	55,967	D
Performance Stock Units	⁽¹⁾	05/14/2024		M			13,972	⁽⁵⁾	⁽⁶⁾	Common Stock	13,972	$0	90,368	D

Explanation of Responses:

1. Each stock unit represents a conditional right to receive one share of the company's common stock.

2. Grant pursuant to the Amended and Restated American Coastal Insurance Corporation 2020 Omnibus Incentive Plan (the "Plan"), effective May 4, 2023, subject to the stockholder approval of the Plan. Stockholder approval of the Plan was obtained on May 14, 2024.

3. The restricted stock units are subject to vesting over three years with one third, rounded to the nearest whole share of stock, vesting in each period.

4. Grant pursuant to the Plan effective April 3, 2024, subject to stockholder approval of the Plan. Stockholder approval of the Plan was obtained on May 14, 2024.

5. The performance units are subject to vesting over three years with one third, rounded to the nearest whole share of stock, vesting in each period.

6. The number of shares of common stock that will be delivered for each performance stock unit depends on the achievement of certain performance factors. Depending on actual performance, the number of shares of common stock delivered upon the vesting date (based on the terms outlined in the respective award agreement) can range from 0% to 150% of the number presented above.

7. Exercise of the nonqualified award is subject to vesting over three years with one third, rounded down to the nearest whole share of stock, becoming exercisable in each period.

Remarks:

	/s/ Alexander Baty, Attorney-in-Fact for Christopher Griffith	05/16/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Griffith Christopher Form 4AMERICAN COASTAL INSURANCE / Christopher Griffith ownership change