Company: OXBRW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023960
Chunk: 30

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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    Stock  
    Grant Date 

    Awards  
    Fair Value 

    Nonvested at January 1, 2024 
     46,073  
    $1.05 
  
    Granted 
     136,427  
    $1.05 
  
    Vested 
     (34,574) 
    $1.05 
  
    Nonvested at March 31, 2024 
     147,926  

    Vested 
     (18,500) 
    $1.05 
  
    Nonvested at June 30, 2024 
     129,426  

    Nonvested at January 1, 2025 
     38,715  

    Granted 
     83,162  
    $1.07 
  
    Vested 
     (54,965) 
    $1.07 
  
    Nonvested at March 31, 2025 
     66,912  

    Vested 
     (22,250) 
    $1.07 
  
    Nonvested at June 30,2025 
     44,662  

Compensation
expense recognized for the three and six-month periods ended June 30, 2025 totaled $70,000 and $178,000, respectively and is included
in general and administrative expenses. At June 30, 2025, there was approximately $212,000 unrecognized compensation expense related
to non-vested restricted stock granted under the Plan, which the Company expects to recognize over a weighted-average period of six (6)
months.

12.
NET WORTH FOR REGULATORY PURPOSES

The
subsidiaries are subject to a minimum and prescribed capital requirement as established by CIMA. Under the terms of their respective
licenses, Oxbridge Reinsurance Limited and Oxbridge Re NS are required to maintain a minimum and prescribed capital requirement of $500
in accordance with the relevant subsidiary’s approved business plan filed with CIMA.

At
June 30, 2025, Oxbridge Reinsurance Limited’s net worth of $43,000 exceeded the minimum and prescribed capital requirement. For
the three-month periods ended June 30, 2025 and 2024, Oxbridge Reinsurance Limited’s net income and loss was approximately $24,000
and $2.1 million, respectively.

At
June 30, 202