Company: GLRE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001385613-25-000079
Chunk: 48

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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, 2,935,178 (December 31, 2024: 2,834,519) ordinary shares remained available for future issuance under the Company’s 2023 Incentive Plan.For the six months ended June 30, 2025, the total fair value of Performance and Service RSs vested was $4.2 million, respectively (2024: $1.9 million, respectively).Employee Restricted Stock UnitsThe following table summarizes the activity for unvested outstanding restricted stock units (“RSUs”) during the six months ended June 30, 2025 and 2024: Performance RSUsService RSUs Number ofnon-vestedRSUsWeighted averagegrant datefair valueNumber ofnon-vestedRSUsWeighted averagegrant datefair valueBalance at December 31, 2023154,445 $8.03 110,425 $8.78 Granted258,148 11.85 124,425 11.85 Vested— — (74,357)8.84 Forfeited— — — — Balance at June 30, 2024412,593 $10.42 160,493 $11.14 Balance at December 31, 2024403,526 $10.43 149,834 $11.14 Granted185,551 13.16 149,435 13.16 Vested(38,752)6.82 (62,041)10.46 Forfeited(54,635)7.11 (4,326)11.85 Balance at June 30, 2025495,690 $12.10 232,902 $12.60 For the awards granted during the six months ended June 30, 2025, the Service RSUs vest evenly over three years on January 1, subject to the grantee’s continued service with the Company. If performance goals are achieved, the Performance RSUs will cliff vest at the end of a three-year performance period within a range of 0% and 200% of the awarded Performance RSUs, with a target of 100%. For the six months ended June 30, 2025, the total fair value of Performance and Service RSUs vested was $1.4 million  (2024: $0.7 million).

17

Stock Compensation ExpenseFor the six months