Company: GLRE
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001385613-25-000055
Chunk: 33

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 33
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 performance;

• our ability to replace the individual; and

• to the extent applicable, the limited number of well-qualified candidates available in or willing to relocate to the Cayman Islands.

Base salaries are reviewed and considered by the Compensation Committee on an annual basis or as otherwise deemed appropriate by the Compensation Committee.

2025 PROXY STATEMENT 31

GREENLIGHT RE

The annual base salaries for our NEOs as of December 31, 2024, including the percentage increase over their respective salaries in effect on December 31, 2023 were as follows:

| Name               |     | 2024 Base Salary ($) |     | 2023 Base Salary ($) |     | % Increase |
| Greg Richardson(1) |     |              800,000 |     |                  N/A |     | N/A        |
| Faramarz Romer     |     |              500,000 |     |              465,000 |     | 8%         |
| Patrick O'Brien(2) |     |              486,000 |     |              437,400 |     | 11%        |
| Thomas Curnock     |     |              500,000 |     |              450,000 |     | 11%        |
| David Sigmon       |     |              420,000 |     |              390,000 |     | 8%         |

(1) Mr. Richardson joined the Company as Chief Executive Officer in January 2024.

(2) Because he is based in Ireland, Mr. O’Brien’s cash compensation is generally paid to him in Euros rather than United States dollars. Amounts reported as “2024 Base Salary” and “2023 Base Salary” are based on an average conversion rate for 2024, which was $1.08 United States dollars for each Euro.

#### Bonuses
Short-Term Incentive Plan

We use bonuses to reward individual and company performance. We expect our bonuses to be variable from year to year. Our Compensation Committee determines each NEO’s target bonus, expressed as a percentage of base salary. The target bonuses of the NEOs were set by the Compensation Committee based on the scope and significance of each NEO’s role, with the CEO receiving the highest target due to his greater responsibilities.

In 2021, following Mercer’s review of our compensation practices, the Compensation Committee recommended to our Board, and the Board approved, a new annual bonus program, which we refer to as the Short