Company: GLRE
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001385613-25-000055
Chunk: 38

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 38
---
 individual’s contributions to our strategic goals and our client, broker, shareholder and other stakeholder relationships;

• the quality and professionalism of the individual in support of the Board, the management team and our employees, including individual contributions to team development, engagement and motivation, and succession planning; and

• the Company’s desire to retain the individual and align his or her interests with those of our shareholders.

For the Company’s CEO, Mr. Richardson, the Compensation Committee considered, among other factors, Mr. Richardson’s leadership with respect to the CEO transition in 2024, his role throughout the year in developing talent and refining the Company’s go-forward strategy, and leadership with respect to all aspects of the Company’s Investor Day in November 2024.

34 2025 PROXY STATEMENT

GREENLIGHT RE

In connection with its review of 2024 individual performance, the Compensation Committee approved individual performance for the NEOs as follows:

| Name            |     | Actual |
| Greg Richardson |     | 100%   |
| Faramarz Romer  |     | 112%   |
| Patrick O'Brien |     | 111%   |
| Thomas Curnock  |     | 152%   |
| David Sigmon    |     | 152%   |

Incentive compensation, up to 100% of the target award, earned under the Short-Term Incentive Plan for the 2024 fiscal year was paid in March 2025, and for each applicable NEO disclosed in the “Non-Equity Incentive Plan Compensation” column for such year in the Summary Compensation Table below. Further, in light of the extraordinary individual contributions in 2024 of Messrs. Romer, O’Brien, Curnock and Sigmon, particularly in light of the CEO transition, the Compensation Committee approved in March 2025 discretionary bonus awards in excess of 100% of target, as noted in the above table for those NEOs Such discretionary amounts were also paid in March 2025 and disclosed in the “Bonus” column for such year in the Summary Compensation Table.

Prior Bonus Program

In March 2025, the Compensation Committee approved the updated 2019 underwriting year calculations for the quantitative bonus pool with respect to the Prior Bonus Program based on performance through December 31, 2024 and declared the 2019 underwriting year closed. For the 2019 underwriting year, the updated calculations reflect below-threshold performance and, as such, no quantitative bonus will