Company: KG
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049606
Chunk: 191

Company: Kestrel Group Ltd
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 191
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5, there are 136,197 common shares that will be issued and outstanding upon vesting of restricted shares.b)Common Shares issuable under Incentive PlansOn June 3, 2025, a Registration Statement on Form S-8 was filed by Kestrel Group for the purpose of registering 1,411,600 common shares, par value $0.01 per share, of the Company which include:•206,600 common shares are issuable in respect of outstanding awards under the Maiden Holdings, Ltd. 2019 Omnibus Incentive Plan (“Legacy Plan”) and any such additional shares granted under the Legacy Plan that were forfeited, cancelled, exchanged or surrendered, including in connection with the termination or expiration of an award, that then become available under the Legacy Plan in accordance with its terms. The Legacy Plan was assigned to and assumed by the Company at the effective time of the mergers. Such aggregate number of common shares issuable under the Legacy Plan reflects the conversion required by the terms of the Combination Agreement; and•1,205,000 common shares are issuable under the Kestrel Group Ltd 2025 Equity Incentive Plan (“Kestrel Group Plan”).c)Treasury SharesTreasury shares include 2,237,534 common shares owned by Maiden Reinsurance which are not treated as outstanding common shares on the Condensed Consolidated Balance Sheet at September 30, 2025. d)AOCIThe following tables set forth financial information regarding the changes in the balances of each component of AOCI:For the Three Months Ended September 30, 2025Change in net unrealized gains on investmentForeign currency translationTotalBeginning balance$485 $74 $559 Other comprehensive income (loss) before reclassifications219 (1,694)(1,475)Amounts reclassified from AOCI to net income, net of tax— — — Net current period other comprehensive income (loss)219 (1,694)(1,475)Ending balance$704 $(1,620)$(916)For the Nine Months Ended September 30, 2025Change in net unrealized gains on investmentForeign currency translationTotalBeginning balance$— $— $— Other comprehensive income before reclassifications704 (1,620)(916)Amounts reclassified from AOCI to net income, net of tax— — — Net current period other comprehensive income (loss)704 (1,620)(