Company: GLRE
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001385613-25-000007
Chunk: 344

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 8
Chunk 344
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 Plan as of July 25, 2023.  If, after July 25, 2023, any award granted under the 2023 Incentive Plan or the 2004 Stock Incentive Plan is forfeited or otherwise expires, terminates or is canceled, then the number of ordinary shares subject to such award that were not issued shall become available for issuance under the 2023 Incentive Plan. The 2023 Incentive Plan is administered by the Compensation Committee of the Board of Directors.  At December 31, 2024, 2,834,519 (2023: 3,296,771) ordinary shares remained available for future issuance under the Company’s 2023 Incentive Plan. Under this plan, the Company is authorized to issue restricted shares, RSUs, and stock options. Share-based awards contain restrictions relating to vesting (service-based and/or performance-based), forfeiture in the event of termination of employment, transferability, and other matters.  Employee and Director Restricted SharesThe following table summarizes the activity for unvested outstanding restricted share awards (“RSs”):Performance RSsService RSs Number ofnon-vestedrestricted sharesWeighted averagegrant datefair valueNumber ofnon-vestedrestricted sharesWeighted averagegrant datefair valueBalance at December 31, 2022794,362 $7.62 832,896 $7.76 Granted357,766 10.84 242,957 10.58 Vested— — (599,942)8.74 Forfeited(109,440)9.37 (56,307)8.44 Balance at December 31, 20231,042,688 $9.94 419,604 9.18 Granted— — 58,751 12.51 Vested(3,351)7.76 (286,799)9.34 Forfeited(94,750)10.71 — — Balance at December 31, 2024944,587 $9.87 191,556 $9.96 For the year ended December 31, 2024, the Company issued no RSs to employees and 58,751 (2023: 65,394) to non-employee directors as part of their remuneration for services to the Company (included in “Service RS