Company: GLRE
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001385613-25-000055
Chunk: 67

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 67
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 31, 2024 and using a share price of $14.00, the closing share price on December 31, 2024, the last business day of the year.

(5) The Value of Accelerated Equity for Change in Control is calculated as the fair market value of the 69,949 restricted shares and RSUs subject to the accelerated vesting if a termination due to a change in control occurred on December 31, 2024 and using a share price of $14.00, the closing share price on December 31, 2024, the last business day of the year.

2025 PROXY STATEMENT 51

GREENLIGHT RE

Assuming Mr. O’Brien’s employment terminated under each of the circumstances described below or a change in control occurred on December 31, 2024, such payments and benefits have an estimated value of:

| Event(1)                         |     | Pro-Rated Bonus(3)$ |         |     | Total Cash Severance 
 $                    |         |     | Value of Accelerated Equity(4)(5)$ |           |     | Total 
 $     |           |
| Termination with prior notice(2) |     |                     | 291,600 |     |                      | 777,600 |     |                                    |         — |     |       | 1,069,200 |
| Death                            |     |                     | 291,600 |     |                      |       — |     |                                    | 1,181,698 |     |       | 1,473,298 |
| Disability                       |     |                     |  72,900 |     |                      |       — |     |                                    | 1,181,698 |     |       | 1,254,598 |
| Change in Control                |     |                     |       — |     |                      |       — |     |                                    | 1,270,878 |     |       | 1,270,878 |

(1) As Mr. O’Brien is based in Ireland, his cash compensation is generally paid to him in Euros rather than United States dollars. The Total Cash Severance is based on an average conversion rate for 2024, which was $1.08 United States dollars per Euro.

(2) The Total Cash Severance is calculated as the sum of base salary ($486,000) and target bonus ($291,600).

(3) The Pro-Rated Bonus upon a termination without prior notice or due to death