GLRE: Greenlight Capital Re Ltd. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Results of Operations and Financial Condition, Leadership Update, Financial Statements and Exhibits
Buyback deal with Chairman Einhorn's family trust for 33% of Company repurchases through Mar 2027; Q3 results released Nov 2, 2026.
What this filing says
Greenlight Capital Re agreed to buy back ordinary shares from a trust affiliated with Chairman David Einhorn. The buyback is tied to the company's ongoing share repurchases and is meant to keep his ownership percentage from rising, because the company sees adverse tax consequences from a higher stake. For shareholders, it means part of the company's buyback activity will go to a related party rather than the open market.
Key figures
- Share of company buybacks sold by trust
- 33%
- Repurchase period
- November 5, 2026 to March 1, 2027
- Agreement termination date
- March 5, 2027
- Par value per ordinary share
- $0.10
Positive for shareholders
- The company is limiting a rise in the Chairman's ownership to avoid adverse tax consequences.
Negative for shareholders
- A third of the company's repurchased shares will be bought from an affiliate of the Chairman rather than the open market.
- The price paid to the trust is set at the weighted average price of the company's other repurchases in the period.
Written by Quantisnow AI from this filing. Not financial advice.
Key terms
- Ordinary Share Repurchase Agreement:
- A contract under which a company agrees to buy back its own shares from a specific holder under set terms.
- Rule 10b5-1 trading plan:
- A pre-set plan for buying or selling shares that lets trades occur on a schedule without real-time instructions from the company.
- Rule 10b-18:
- An SEC safe harbor that protects companies from liability for market manipulation when repurchasing their own shares under specified conditions.
FAQ
Who is the seller in Greenlight Capital Re's share repurchase agreement?
The seller is the David M. Einhorn 2021-07 Family Trust, an affiliate of Chairman David Einhorn.
Why is Greenlight Capital Re repurchasing shares from Einhorn's trust?
The company says Chairman Einhorn's ownership percentage is rising due to its share repurchases, and it is not in the company's interest for that percentage to increase further because of likely adverse tax consequences.
Historical context for GLRE
Across the 14 sessions after earlier GLRE headlines, the stock closed higher 6 times and lower 8 times, with a median move of 1.3% in either direction. This shows timing only: many things move a stock in a session, and these figures do not show that any headline caused a move.
| Session | Earlier headline | GLRE | SPY |
|---|---|---|---|
| Nov 3, 2026 | Greenlight Re Announces Financial Results for Third Quarter and Nine Months Ended September 30, 2026and 1 other headline that session | +1.3% | +0.3% |
| Oct 27, 2026 | Greenlight Capital Re, Ltd. Schedules Third Quarter 2026 Financial Results and Conference Call | -1.2% | +0.6% |
| Oct 22, 2026 | Greenlight Innovation Syndicate 3456 Appoints Ian Maguire as Active Underwriter | +2.4% | -1.2% |
| Sep 2, 2026 | Greenlight Capital Re, Ltd. Announces New Director Appointments | -0.2% | +0.4% |
| Aug 5, 2026 | Greenlight Re Announces Financial Results for Second Quarter and Six Months Ended June 30, 2026 | -3.7% | -0.2% |
| Jul 30, 2026 | Greenlight Innovation Syndicate 3456 Progresses to Full Lloyd’s Syndicate | -4.6% | +1.7% |
Keep researching GLRE
- What is Form 8-K?The SEC "current report" a public company files to disclose material events, generally within four business days of the event.
- Form 8-K explainedWhat a Form 8-K is, when it is due, and what each key item number means, from 1.01 material agreements and 2.02 earnings to 4.02 restatements and 5.02 executive changes.
- GLRE insider tradesEvery buy and sale reported by Greenlight Capital Re Ltd. officers, directors and large holders.
- GLRE earnings historyPast Greenlight Capital Re Ltd. earnings releases, newest first.
- GLRE financial statementsRevenue, profit, cash flow and balance sheet from Greenlight Capital Re Ltd.'s SEC filings.
- Market cap
- 30-day
- Sector
- Finance
- Industry
- Property-Casualty Insurers
- Listed since
- 2007
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