Company: GLRE
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001385613-25-000055
Chunk: 47

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 47
---
ive Plan, our Compensation Committee generally has the discretion to vest unvested awards upon a change in control as described below under “Potential Payments Upon Termination or Change in Control — The Stock Incentive Plan and Awards Granted Thereunder.” This discretion allows the Compensation Committee to determine at the time of the change in control whether, and the extent to which, additional vesting is warranted.

Upon termination of employment without cause or for good reason (or, with respect to Mr. O’Brien, in the event prior notice (or pay in lieu of notice) is required by GRIL and other than in the case of death), our NEOs are eligible for severance payments. For more details on these payments, see “Potential Payments upon Termination or Change in Control — Employment Agreements.”

The amount of our severance obligations to our NEOs is designed to be competitive with the amounts payable to executives in similar positions at other global reinsurance companies with which we compete for talent. Severance payments are generally made in substantially equal monthly installments and are generally contingent upon the NEO’s continued compliance with the restrictive covenants in his or her employment agreement.

#### Actions Taken in 2025
Stock Incentive Plan Awards

In March 2025, under our 2023 Incentive Plan, our Compensation Committee approved and, on March 14, 2025, we granted the following RSUs to the NEOs:

| Name            |     | 

# of RSUs(1) |
| Greg Richardson |     |       91,185 |
| Faramarz Romer  |     |       26,596 |
| Patrick O'Brien |     |       28,450 |
| Thomas Curnock  |     |       26,596 |
| David Sigmon    |     |       15,957 |

(1) Represents the achievement of the performance conditions at the target level of performance conditions.

The stock awards for our NEOs reflect our desire to retain these executives and align their interests with those of our shareholders.

Base Salaries

In March 2025, our Compensation Committee reviewed the annual base salaries of the NEOs, and took the following actions: increased Mr. Curnock’s base salary from $500,000 to $520,000 and increased Mr. Sigmon’s base salary from $420,000 to $450,000. In making these increases, the Compensation Committee considered, among other factors, Mr. Curnock’s elevation to Group Chief Underwriting Officer