Exzeo Group, Inc.

Current report

There have been no material changes in the risk factors previously disclosed in the section entitled "Risk Factors" in our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2025, which was filed with the SEC on February 26, 2026.

Previous report

Our risk factors are described in the prospectus included in the Registration Statement relating to our initial public offering, filed October 16, 2025. As of the date of this Quarterly Report, there have been no material changes to those risk factors.

Previous report

We did not make any payments of offering expenses to directors, officers or persons owning ten percent or more of any class of our equity securities, or to their associates, or our affiliates.

Previous report

Entry into Employment Agreement with Paresh Patel

Previous report

On December 9 th, 2025, based on the recommendation of the Compensation Committee of the board of directors of the Company, the board of directors approved, and the Company entered into, an Executive Employment Agreement with Paresh S. Patel pursuant to which Mr. Patel will continue to serve as the Company’s Chief Executive Officer and President. The Employment Agreement will become effective as of January 1, 2026. The Employment Agreement provides that Mr. Patel will continue to serve as Chief Executive Officer and President on an at-will basis until his employment is terminated by the Company or Mr. Patel. As provided in the Employment Agreement, Mr. Patel will serve the Company on a full-time basis subject to his continued service as Chief Executive Officer and President of HCI Group, Inc., the Company’s parent company ("HCI").

Previous report

The Employment Agreement provides that Mr. Patel will receive a base salary of $950,000 per year, which may be increased by the Company’s board of directors.Mr. Patel will be entitled to such bonuses as may be determined by resolution of the Company’s board of directors or the compensation committee thereof. Mr. Patel will be entitled to 200 hours of paid-time-off per year (reduced by paid-time-off from HCI) and will be entitled to medical and other benefits at the same level as other executives of the Company at such time as he ceases to work for HCI.

Previous report

The Employment Agreement provides that Mr. Patel’ employment may be terminated by either the Company or Mr. Patel at any time and for any reason and with or without cause. If Mr. Patel’s employment is terminated by the Company for "Cause," or is terminated by Mr. Patel for "Good Reason" or by Mr. Patel within 180 days following a Change of Control (as defined in the Company’s 2025 Omnibus Incentive Plan), then Mr. Patel will be entitled to severance compensation equal to 12 months’ of his base salary payable over a period of 12 months in exchange for a full release of claims against the Company. "Cause" is customarily defined to include a material breach of Mr. Patel’s duties and covenants under the Employment Agreement, dishonesty or misconduct which may negatively reflect on the Company, commission of a felony, and certain other events or acts, all as more particularly defined in the Employment Agreement. "Good Reason" includes an uncured failure by the Company to comply with the terms of the Employment Agreement, a reduction in Mr. Patel’s base salary, or the transfer of Mr. Patel’s work location to a place outside Hillsborough County, Florida.

Previous report

The Employment Agreement includes customary restrictive covenants, including confidentiality and non-solicitation covenants and a two-year post-employment non-compete restriction in the U.S.

Previous report

The foregoing does not purport to be a complete description of the Employment Agreement and is qualified in its entirety by reference to the full text of such agreement, which is attached as Exhibit 10.4 to this Quarterly Report on Form 10-Q and incorporated herein by reference.