Company: OXBRW
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001493152-25-021063
Chunk: 81

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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    Nonvested at January 1, 2025 
     38,715  

    Granted 
     83,162  
    $1.07 
  
    Vested 
     (54,965) 
    $1.07 
  
    Nonvested at March 31, 2025 
     66,912  

    Vested 
     (22,250) 
    $1.07 
  
    Nonvested at June 30,2025 
     44,662  

    Granted 
     43,000  
    $2.25 
  
    Vested 
     (33,000) 
    $1.07 
  
    Forfeited 
     (12,000) 
    $2.25 
  
    Nonvested at September 30, 2025 
     42,662  

Compensation
expense recognized for the three and nine-month periods ended September 30, 2025 totaled $146,000
and $324,000,
respectively and is included in general and administrative expenses. At September 30, 2025, there was approximately $137,000
unrecognized compensation expense related to non-vested restricted stock granted under the Plan, which the Company expects to
recognize over a weighted-average period of five (5)
months.

12.
NET WORTH FOR REGULATORY PURPOSES

The
subsidiaries are subject to a minimum and prescribed capital requirement as established by CIMA. Under the terms of their respective
licenses, Oxbridge Reinsurance Limited and Oxbridge Re NS are required to maintain a minimum and prescribed capital requirement of $500
in accordance with the relevant subsidiary’s approved business plan filed with CIMA.

At
September 30, 2025, Oxbridge Reinsurance Limited’s net worth of $48,000 exceeded the minimum and prescribed capital requirement.
For the three-month periods ended September 30, 2025 and 2024, Oxbridge Reinsurance Limited’s net income and loss was approximately
$5,000 and $420,000, respectively.

At
September 30, 2025, the Oxbridge Re NS’ net worth of $522,000 exceeded the minimum and prescribed capital requirement. For the
three-month periods ended September 30, 2025 and 2024 the Oxbridge Re NS’ net income was approximately $62,000 and $32,000, respectively