Company: GLRE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001385613-25-000113
Chunk: 50

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 ordinary shares(512,527)(547,402)Balance – end of period34,099,226 34,832,493 

16

Share Repurchase PlanOn May 2, 2025, the Board of Directors re-approved the share repurchase plan, until June 30, 2026, authorizing the Company to repurchase up to $25.0 million of ordinary shares in the open market, through privately negotiated transactions or Rule 10b5-1 stock trading plans. Any shares repurchased are canceled immediately upon repurchase. For the nine months ended September 30, 2025, the Company repurchased 512,527 ordinary shares for $7.0 million (2024: 547,402 ordinary shares for $7.5 million).Preferred SharesThe Company’s authorized share capital also consists of 50,000,000 preference shares with a par value of $0.10 each. At September 30, 2025, the Company has no issued and outstanding preferred shares.

 11.      SHARE-BASED COMPENSATION 

 Refer to Note 11 of the Company’s audited consolidated financial statements of its 2024 Form 10-K for a summary of the Company’s 2023 Incentive Plan, including the definition of performance-based and service-based stock awards.Employee and Director Restricted SharesThe following table summarizes the activity for unvested outstanding restricted share awards (“RSs”) during the nine months ended September 30, 2025 and 2024: Performance Restricted SharesService Restricted Shares Number ofnon-vestedrestricted sharesWeighted averagegrant datefair valueNumber ofnon-vestedrestricted sharesWeighted averagegrant datefair valueBalance at December 31, 20231,042,688 $9.94 419,604 $9.18 Granted— — 58,751 12.51 Vested— — (282,916)9.35 Forfeited(89,945)10.84 — — Balance at September 30, 2024952,743 $9.86 195,439 $9.93 Balance at December 31, 2024944,587 $9.87 191,556 $9.96 Granted— — 56,322 13.05 Vested(222,532)9.65 (134,418)10.02