Company: OXBRW
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001493152-25-021063
Chunk: 77

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 77
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, including the reimbursement of legal fees up to an aggregate of $45,000.

    18

OXBRIDGE
RE HOLDINGS LIMITED AND SUBSIDIARIES

Notes
to Consolidated Financial Statements (unaudited)

September
30, 2025

10.
DIVIDENDS

As
of December 31, 2024, none of the Company’s accumulated deficit were restricted from payment of dividends to the company’s
shareholders. However, since most of the Company’s capital and retained earnings may be invested in its subsidiaries, a dividend
from any reinsurance subsidiaries would likely be required in order to fund a dividend to the Company’s shareholders and would
require notification to the Cayman Islands Monetary Authority (“CIMA”).

Under
Cayman Islands law, the use of additional paid-in capital is restricted, and the Company will not be allowed to pay dividends out of
additional paid-in capital if such payments result in breaches of the prescribed and minimum capital requirement.

11.
SHARE-BASED COMPENSATION

The
Company currently has outstanding share-based awards granted under the 2014 Omnibus Incentive Plan (the “2014 Plan”) and
the 2021 Omnibus Incentive Plan (the “2021 Plan”) (hereinafter collectively referred to as “the Plans”). Under
each of the Plans, the Company has discretion to grant equity and cash incentive awards to eligible individuals, including the issuance
of up to 1,000,000 of the Company’s ordinary shares. During the period ended September 30, 2025, the Company granted an aggregated
of 126,162 restricted stock to directors, officers and employees under the 2021 Plan. At September 30, 2025, there were 632,764 shares
and 11,750 shares available for grant under the 2021 Plan and the 2014 Plan, respectively.

Stock
options

Stock
options granted and outstanding under the Plan vests quarterly over four years and are exercisable over the contractual term of ten years.

A
summary of the stock option activity for the three-month periods ended September 30, 2025 and 2024 are as follows:

SCHEDULE
OF STOCK OPTION ACTIVITY

    Number of Options  
    Weighted- Average Exercise Price  
    Weighted- Average Remaining Contractual Term 
    Aggregate Intrinsic Value 

    Outstanding at January 1, 2024 
     846,250