Company: AHL
Filing Date: 2025-05-08
Form Type: 424B4
Source: 0001628280-25-023859
Chunk: 278

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-05-08
Form: 424B4
Chunk 278
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 the Plan . The number of shares reserved for issuance under the 2025 Incentive Plan is 3,633,333, plus an annual increase added on the first day of each fiscal year, beginning with the fiscal year ending December 31, 2026 and continuing until, and including, the fiscal year ending December 31, 2035. The annual increase will be equal to the lesser of (i) 4% of the number of shares issued on December 31 of the immediately preceding fiscal year and (ii) an amount determined by the Board. The number of shares available for issuance under the 2025 Incentive Plan will not be reduced by shares issued in settlement of the replacement awards that will be granted in substitution for legacy share options previously granted by Highlands Manco 2 Ltd.

To the extent an equity award granted under the 2025 Incentive Plan (other than any substitute award, including any replacement awards granted in substitution for legacy share options previously granted by Highlands Manco 2 Ltd.) expires or otherwise terminates without having been exercised or paid in full, or is settled in cash, the shares subject to such award will become available for future grant under the 2025 Incentive Plan. In addition, to the extent

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shares subject to an award are withheld to satisfy a participant’s tax withholding obligation upon the exercise or settlement of such award (other than any substitute award, including any replacement awards granted in substitution for “share options” previously granted by Highlands Manco 2 Ltd.) or to pay the exercise price of a share option or share appreciation right, such shares will become available for future grant under the 2025 Incentive Plan. The aggregate value of cash compensation and the grant date fair value of ordinary shares that may be awarded or granted during any fiscal year of the Company to any non-employee director, for his or her services as a non-employee director, may not exceed $600,000; provided, however, that this limit will not apply to distributions of previously deferred compensation under a deferred compensation plan maintained by the Company or compensation received by the director in his or her capacity as an executive officer or employee of the Company.

Plan Administration . The Compensation Committee of the Board (the “Compensation Committee”) will administer the 2025 Incentive Plan. The Board has the authority to amend and modify the plan, subject to any shareholder approval required by law or stock exchange rules. Subject to the terms of the 202