[Form 4] Greenlight Captial RE, LTD. Insider Trading Activity

Rhea-AI Filing Summary

Greenlight Capital Re, Ltd. (GLRE) reported a Form 4 disclosing that director Murphy Bryan was granted 8,046 ordinary shares as a restricted stock award on 08/07/2025, increasing his reported beneficial ownership to 165,570 shares. The grant was made under the Greenlight Capital Re, Ltd. 2023 Omnibus Incentive Plan.

The restricted shares vest on the earlier of the first anniversary of the grant date and the 2026 annual general meeting of shareholders, meaning the award is time-based and remains subject to forfeiture until vesting. The Form 4 was submitted by a reporting agent on behalf of Mr. Bryan.

Insights

Financial Analyst

TL;DR: Routine director restricted-stock grant of 8,046 shares increases alignment but appears non-material to equity base.

This Form 4 documents a time‑based restricted stock award to a director under the company’s 2023 Omnibus Incentive Plan. The award vests by the earlier of one year or the 2026 annual meeting, indicating retention-focused compensation rather than immediate liquidity. The reported post‑transaction beneficial ownership of 165,570 shares provides context on the director’s stake but the disclosed grant size suggests limited dilution and likely immaterial impact on overall capitalization.

Corporate Governance Expert

TL;DR: Typical governance practice: equity grant to align director incentives; vesting schedule ties retention to near‑term service.

The award follows common governance practice of granting restricted shares to directors to align interests with shareholders. The vesting condition—earlier of first anniversary or the 2026 AGM—aligns retention and shareholder timelines. There is no indication of accelerated vesting or performance conditions in the disclosure. Filing was executed by an attorney‑in‑fact per the Form 4 submission details.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Murphy Bryan

(Last) (First) (Middle)

65 MARKET STREET, SUITE 1207,

CAMANA BAY, P.O. BOX 31110,

(Street)

GEORGE TOWN E9 KY11205

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GREENLIGHT CAPITAL RE, LTD. [ GLRE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/07/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
ORDINARY SHARES	08/07/2025		A		8,046	A	(1)	165,570	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The restricted stock award was granted pursuant to the Greenlight Capital Re, Ltd. 2023 Omnibus Incentive Plan. This award will vest on the earlier of the first anniversary of the grant date and the 2026 annual general meeting of shareholders.

Remarks:

	/s/ Sherry Diaz, as attorney in fact	08/08/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Murphy Bryan report on the GLRE Form 4?

The Form 4 reports a restricted stock award of 8,046 ordinary shares granted to director Murphy Bryan on 08/07/2025.

How many GLRE shares does Murphy Bryan beneficially own after the reported transaction?

After the transaction Mr. Bryan is reported to beneficially own 165,570 shares.

Under which plan was the GLRE restricted stock award granted?

The award was granted under the Greenlight Capital Re, Ltd. 2023 Omnibus Incentive Plan.

When do the restricted GLRE shares vest?

The restricted shares vest on the earlier of the first anniversary of the grant date and the 2026 annual general meeting of shareholders.

What is the reporting person’s role at GLRE?

The Form 4 identifies Murphy Bryan as a Director of Greenlight Capital Re, Ltd.