Company: GLRE
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001385613-25-000055
Chunk: 36

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 36
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:

| Name            |     | 2024 Target Bonus Opportunity (% of Base Salary) |
| Greg Richardson |     | 100%                                             |
| Faramarz Romer  |     | 50%                                              |
| Patrick O'Brien |     | 60%                                              |
| Thomas Curnock  |     | 50%                                              |
| David Sigmon    |     | 50%                                              |

In respect of 2024, the Compensation Committee determined that awards under the Short-Term Incentive Plan would be based upon achievement of company performance and individual performance. The weightings between company and individual performance for the annual incentive compensation opportunities vary among our NEOs.

For 2024, the weightings of the NEOs were set by the Compensation Committee based on the scope of each NEO’s role, as follows:

| Name               |     | Company Performance |     | Individual Performance |
| Greg Richardson(1) |     | 50%                 |     | 50%                    |
| Faramarz Romer     |     | 50%                 |     | 50%                    |
| Patrick O'Brien    |     | 75%                 |     | 25%                    |
| Thomas Curnock     |     | 75%                 |     | 25%                    |
| David Sigmon       |     | 50%                 |     | 50%                    |

(1) In 2024, the Company’s CEO, Mr. Richardson, weighting was based 50% on individual performance and 50% on Company performance criteria per his employment agreement, given Mr. Richardson commenced employment with the Company on January 1, 2024 and a large portion of the Company’s 2024 underwriting portfolio had already been agreed and/or bound as part of the 2023 year-end renewal process. In 2025, Mr. Richardson’s weighting will be based 25% on individual performance and 75% on Company performance.

2025 PROXY STATEMENT 33

GREENLIGHT RE

In respect of 2024, the Compensation Committee determined that company performance would be measured based upon achievement of adjusted operating profit, or 2024 AOP Metric, as this metric reflects management’s contribution to long term profitability and operational efficiency. With respect to the 2024 fiscal year, the AOP Metric means 2024 underwriting income less 2024 corporate innovations-related expense, as a percentage of book value measured as of January 1, 2024