Romer Faramarz 4

What Happened

• Romer Faramarz, Chief Financial Officer of Greenlight Capital Re, Ltd. (GLRE), was awarded 7,705 restricted stock units (RSUs) on March 13, 2025. The Form 4 reports an acquisition price of $0.00, indicating a grant rather than a purchase. The RSUs will convert to ordinary shares upon vesting.

Key Details

• Transaction date: 2025-03-13; Filing date: 2026-03-16 (the filing covers the 2025 transaction and was submitted over a year later).
• Transaction type/code: Award/Grant (A).
• Shares/units granted: 7,705 RSUs; reported acquisition price: $0.00.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnote: RSUs vest evenly over three years on January 1st, subject to continuous service; upon vesting the RSUs convert into ordinary shares.
• Timeliness: Filing appears late (transaction occurred 2025-03-13; Form 4 filed 2026-03-16). Late filings reduce transparency and can carry regulatory or administrative consequences.

Context

• This was a compensation award (not a purchase or sale). RSU grants are typically retention/incentive awards and only become stock when they vest; they do not represent immediate cash proceeds or market purchases/sales.
• Because the grant vests over time, the economic interest is realized gradually as units convert to shares on vesting dates.