Company: GLRE
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001385613-25-000055
Chunk: 37

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 37
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Under the Short-Term Incentive Plan, participants are eligible to receive a bonus related to the company performance criteria, to the extent applicable, if we achieve at least the threshold level of performance for the applicable performance period. If the threshold level of performance related to the 2024 AOP Metric was not attained, no portion of the award allocated to that metric would have been earned, and if the maximum level of performance related to the 2024 AOP Metric was attained, participants would have been eligible to receive 200% of the target award related to such metric. In 2024, the actual 2024 AOP Metric was negative 1.7%, which resulted in 0% payout. Adjusted operating profit is a non-GAAP financial measure. Please refer to Annex 1 for definition of non-GAAP financial measures and reconciliations of GAAP to non-GAAP financial measures.

| Performance Measure |     | Threshold     (0%) |     | Target           (100%) |     | Maximum   (200%) |     | Actual |     | Payout |
| 2024 AOP            |     | 0.0%               |     | 6.3%                    |     | 12.6%            |     | (1.7)% |     | 0.0%   |

Linear interpolation is used to calibrate payouts between the threshold, target and maximum levels.

The individual performance metric ranges from 0% of the target award related to that metric to 100% of the target award related to that metric subject to any discretionary bonus award above 100% of the target award for extraordinary performance, to be awarded at the discretion of the Compensation Committee. The Compensation Committee determines the percentage of the individual performance target bonus, if any, that each NEO is eligible to earn. In determining the individual performance payout percentages for each of our NEOs, the Compensation Committee considers, among other things, the contributions by each individual based upon his or her area of responsibility to:

• The transformation, diversification and performance of our underwriting platform and long-term growth strategy;

• The strength and improvement of our A.M. Best financial ratings and maintenance of regulatory compliance; and

• The judicious deployment of capital that is not contractually allocated to our alternative investment strategy.

The Compensation Committee, in its sole discretion, may consider subjective criteria relating to performance and accomplishments on an individual and comparative basis. These criteria include, but are not limited to:

• The strength and development of each