Company: OXBRW
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001493152-25-021063
Chunk: 80

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 80
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177,159
ordinary shares were issued to, and retained by, the executive officers of the Company.

Restricted
Stock Awards

The
Company may grant restricted stock awards to eligible individuals in connection with their service to the Company. The terms of the Company’s
outstanding restricted stock grants may include service, performance and market-based conditions. The fair value of the awards with market-based
conditions is determined using a Monte Carlo simulation method, which calculates many potential outcomes for an award and then establishes
fair value based on the most likely outcome. The determination of fair value with respect to the awards with only performance or service-based
conditions is based on the value of the Company’s stock on the grant date.

    19

OXBRIDGE
RE HOLDINGS LIMITED AND SUBSIDIARIES

Notes
to Consolidated Financial Statements (unaudited)

September
30, 2025

11.
SHARE-BASED COMPENSATION (cont’d)

Restricted
Stock Awards (cont’d)

During
the nine-month periods ended September 30, 2025 and 2024, the Company granted 126,162 and 136,427 shares of restricted stock, respectively,
to directors and employees under the 2021 Plan. Information with respect to the activity of unvested restricted
stock awards during the periods ended September 30, 2025 and 2024 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, 2024 
     46,073  
    $1.05 
  
    Granted 
     136,427  
    $1.05 
  
    Vested 
     (34,574) 
    $1.05 
  
    Nonvested at March 31, 2024 
     147,926  

    Vested 
     (18,500) 
    $1.05 
  
    Nonvested at June 30, 2024 
     129,426  

    Vested 
     (54,214) 
    $1.05 
  
    Nonvested at September 30, 2024 
     75,212