Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 989

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 6
Chunk 989
---
4.8 years 
    $         - 
  
    Exercisable at December 31, 2023 
     783,750  
    $4.52  
    4.6 years 
    $- 

    Outstanding at December 31, 2024 
     846,250  
    $4.63  
    3.7 years 
    $- 
  
    Exercisable at December 31, 2024 
     846,250  
    $4.63  
    3.7 years 
    $- 

    F-23

OXBRIDGE
RE HOLDINGS LIMITED AND SUBSIDIARIES

Notes
to Consolidated Financial Statements, Continued

11.
SHARE-BASED COMPENSATION (continued)

Compensation
expense recognized for each of the years ended December 31, 2024 and 2023 totaled $20,000,
and is included in general and administrative
expenses. At December 31, 2024 and 2023, there was approximately $0
and $20,000,
respectively, of total unrecognized compensation expense related to non-vested stock options granted under the Plans.

There
were no options granted during the year ended December 31, 2024 or 2023.

Restricted
Stock Awards

The
Company may grant restricted stock awards to eligible individuals in connection with their service to the Company. The terms of the Company’s
outstanding restricted stock grants may include service, performance and market-based conditions. The fair value of the awards with market-based
conditions is determined using a Monte Carlo simulation method, which calculates many potential outcomes for an award and then establishes
fair value based on the most likely outcome. The determination of fair value with respect to the awards with only performance or service-based
conditions is based on the value of the Company’s stock on the grant date.

Information
with respect to the activity of unvested restricted stock awards during the year ended December 31, 2024 and 2023 is as follows
(share amounts not in thousands):

 SCHEDULE
OF ACTIVITY OF UNVESTED RESTRICTED STOCK AWARDS

    Weighted-  

    Number of  
    Weighted- 

    Restricted  
    Average 

    Stock  
    Grant Date 

    Awards  
    Fair Value 

    Nonvested at January 1, 2023