BuybackJun 1, 2026, 04:25 PM
Greenlight Capital Re Enters Share Repurchase Agreement with Einhorn Affiliate
AI Summary
Greenlight Capital Re, Ltd. has entered into an Ordinary Share Repurchase Agreement with an affiliate of Chairman David Einhorn, the David M. Einhorn 2021-07 Family Trust. This agreement is designed to maintain Mr. Einhorn's ownership percentage at approximately constant levels, preventing further increases that could lead to adverse tax consequences for the company. Under the terms, the company will repurchase shares from the Trust, equivalent to 33% of the shares repurchased through a forthcoming 10b5-1 plan, at a weighted average price.
Key Highlights
- Greenlight Capital Re entered an Ordinary Share Repurchase Agreement with the David M. Einhorn 2021-07 Family Trust.
- The agreement aims to prevent Chairman David Einhorn's ownership percentage from increasing due to adverse tax consequences.
- The company will repurchase shares from the Trust equal to 33% of shares repurchased under a planned June 10b5-1 plan.
- The purchase price per share will be the weighted average price paid by the company in its 10b5-1 plan repurchases.
- The transactions are expected to be consummated on or about August 3, 2026.
Price Impact
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