Item 5.02 Departures of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On August 4, 2021, the Board of Directors (the "Board") of Universal Insurance Holdings, Inc. (the "Company") appointed Francis X. McCahill, III as a member of the Company's Board, effective as of such date. There is no arrangement or understanding between Mr. McCahill and any other person pursuant to which he was appointed as a director of the Company. The Board has not yet appointed Mr. McCahill to any Board committees.

The Board has made an affirmative determination that Mr. McCahill qualifies as an independent director under the New York Stock Exchange listing standards and the Company's standards for director independence. As a member of the Board, he will be entitled to receive the compensation paid to the Company's independent directors. In addition, Mr. McCahill will also enter into, and the Board approved, an indemnification agreement with the Company in the form entered into by the Company's other directors.

Mr. McCahill's son, Sean McCahill, is a Vice President at Clovered, Inc., a subsidiary of the Company. In 2020, Sean McCahill received salary and benefits of approximately $273,000, including a $50,000 bonus. Other than as described herein, there have been no transactions directly or indirectly involving Mr. McCahill that would be required to be disclosed pursuant to Item 404(a) of Regulation S-K.

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