RenaissanceRe (RNR) EVP awarded restricted stock and performance shares
Rhea-AI Filing Summary
RenaissanceRe Holdings executive David E. Marra, EVP and Chief Underwriting Officer, reported stock-based compensation changes. He received a grant of 2,975 restricted common shares that will vest in four equal annual installments beginning on March 1, 2027. He was also awarded up to 8,926 performance-based restricted common shares, which may vest after the service period ending on December 31, 2028, subject to service and performance conditions. To cover withholding taxes on previously granted restricted shares vesting from awards made in 2023, 2024, and 2025, a total of 254, 317, and 382 shares, respectively, were disposed of at a price of $302.46 per share. After these grants and tax-withholding dispositions, Marra directly owns 98,747 common shares.
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Insights
Routine equity awards and tax withholdings for a senior executive.
David E. Marra, an executive at RenaissanceRe Holdings, reported standard stock-based compensation activity. He received 2,975 time-based restricted shares and a performance-based award with a maximum of 8,926 common shares under the company’s 2016 long-term incentive plan.
The performance-based shares vest only if service and performance metrics tied to book value growth, dividends, and underwriting expense ratios are met through December 31, 2028. Separately, 254, 317, and 382 shares were withheld at $302.46 per share to satisfy tax obligations as earlier restricted stock vested.
This filing reflects planned compensation mechanics rather than discretionary open-market trading. The overall impact is administrative, with Marra’s direct holdings moving to 98,747 common shares as these awards and tax withholdings were recorded.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 2,975 | $0.00 | -- |
| Grant/Award | Common Stock | 8,926 | $0.00 | -- |
| Tax Withholding | Common Stock | 254 | $302.46 | $77K |
| Tax Withholding | Common Stock | 317 | $302.46 | $96K |
| Tax Withholding | Common Stock | 382 | $302.46 | $116K |
Footnotes (1)
- Grant of restricted shares of the issuer pursuant to the RenaissanceRe Holdings Ltd. First Amended and Restated 2016 Long Term Incentive Plan, as amended (the "2016 Plan"). These shares will vest in four equal annual installments beginning on March 1, 2027. Grant of performance-based restricted common shares of the Issuer pursuant to the 2016 Plan. These shares will vest following the expiration of the service period on December 31, 2028, subject to the satisfaction of service- and performance-based vesting conditions. The amount awarded represents the maximum potential achievable number of shares. The number of shares that ultimately vests is a function of the issuer's average growth in book value per common share plus accumulated dividends and average underwriting expense ratio as compared to peers during the three-year performance period, and is subject to the reporting person's continued employment through the expiration of the service period. Shares withheld for payment of withholding taxes upon the vesting of restricted shares granted to the reporting person on March 1, 2023. Shares withheld for payment of withholding taxes upon the vesting of restricted shares granted to the reporting person on March 1, 2024. Shares withheld for payment of withholding taxes upon the vesting of restricted shares granted to the reporting person on March 1, 2025.
