Company: OXBRW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023960
Chunk: 29

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 totaled $0
and $5,000,
respectively and for the six-month periods ended June 30, 2025 and 2024 totaled $0 and $15,000, respectively. Compensation expense is included in general and administrative expenses. At June 30, 2025 and 2024, there
was approximately $0
and $10,000, respectively,
of total unrecognized compensation expense related to non-vested stock options granted under the Plans.

During
the period ended June 30, 2025, 180,000 options expired and a total of 290,000 outstanding share options were “net” exercised.
112,841 shares were withheld by the Company for payment of the exercise price at a share price of $5.14. The remaining net 177,159 ordinary
shares were issued to, and retained by, the executive officers of the Company.

There
were no options granted during the period ended June 30, 2025.

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)

June
30, 2025

11.
SHARE-BASED COMPENSATION (cont’d)

Restricted
Stock Awards (cont’d)

During
the six-month periods ended June 30, 2025 and 2024, the Company granted 83,162 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 June 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