Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 133

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 14
Chunk 133
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 Company’s stock on the grant date.

Information
with respect to the activity of unvested restricted stock awards during the year ended December 31, 2024 and 2023 is as follows
(share amounts not in thousands):

 SCHEDULE
OF ACTIVITY OF UNVESTED RESTRICTED STOCK AWARDS

    Weighted-  

    Number of  
    Weighted- 

    Restricted  
    Average 

    Stock  
    Grant Date 

    Awards  
    Fair Value 

    Nonvested at January 1, 2023 
     23,000  

    Granted 
     100,647  
    $2.37 
  
    Vested 
     (77,574) 
    $2.37 
  
    Nonvested at December 31, 2023 
     46,073  

    Granted 
     136,427  
    $1.07 
  
    Vested 
     (143,785) 
    $1.07 
  
    Nonvested at December 31, 2024 
     38,715  

Compensation
expense recognized for the years ended December 31, 2024 and 2023 totaled $214,000 and $238,000, respectively, and is included in general
and administrative expenses. At December 31, 2024 and 2023, there was approximately $48,000 and
$119,000, respectively, of unrecognized compensation expense related to non-vested restricted stock granted under the Plans. The
Company expects to recognize the remaining compensation expense over a weighted-average period of two (2) months.

    F-24

OXBRIDGE
RE HOLDINGS LIMITED AND SUBSIDIARIES

Notes
to Consolidated Financial Statements, Continued

12.
NET WORTH FOR REGULATORY PURPOSES

The
subsidiaries are subject to a minimum and prescribed capital requirement as established by CIMA. Under the terms of their respective
licenses, Oxbridge Reinsurance Limited and Oxbridge Re NS are required to maintain a minimum and prescribed capital requirement of $500
in accordance with the relevant subsidiary’s approved business plan filed with CIMA.

At
December 31, 2024, the Oxbridge Reinsurance Limited’s net worth of $19,000 exceeded the minimum and prescribed capital requirement.
For the years ended December 31, 2024 and 2023, Oxbridge