Form 4: Greenlight Capital Re, Ltd.: Chief Actuary Richard Paul Strommer Forfeits Performance-Based Restricted Shares
SEC Form 4 Filing
Richard Paul Strommer, Chief Actuary of Greenlight Capital Re, Ltd., forfeited 4,139 ordinary shares on March 10, 2025, due to the forfeiture of performance-based restricted shares granted in 2022.
Summary
- Richard Paul Strommer, the Chief Actuary of Greenlight Capital Re, Ltd., filed a Form 4 on March 11, 2025, reporting a change in beneficial ownership.
- On March 10, 2025, Strommer forfeited 4,139 ordinary shares.
- These shares were performance-based restricted shares granted in 2022.
- Following the transaction, Strommer directly owns 66,423 ordinary shares.
Sentiment
Score: 4
Explanation: The sentiment is neutral to slightly negative. The forfeiture of shares suggests underperformance, but it's a standard regulatory filing.
Negatives
- Richard Paul Strommer forfeited 4,139 ordinary shares, indicating that performance targets for the restricted shares were not met.
Risks
- The forfeiture of performance-based restricted shares may reflect negatively on the company's performance or the achievement of specific goals tied to the shares.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency regarding the transactions of company insiders. This filing indicates a change in ownership by a key executive.
Stakeholder Impact
- Shareholders may view the forfeiture of performance-based shares as a sign that the company or the executive did not meet certain performance goals.
Key Dates
| Date | Description |
|---|---|
| 2022 | Year the performance-based restricted shares were granted. |
| 03/10/2025 | Date of the transaction (forfeiture of shares). |
| 03/11/2025 | Date the Form 4 was signed. |
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