Greenlight Capital Re (GLRE) Files Q2 Results; Share Repurchase Deal to Stabilize Einhorn Stake

What Happened
Greenlight Capital Re, Ltd. (GLRE) filed an 8‑K on August 4, 2026 to (1) announce its financial results for the second quarter and six months ended June 30, 2026, and (2) disclose an Ordinary Share Repurchase Agreement dated August 4, 2026 with the David M. Einhorn 2021‑07 Family Trust. The company said Chairman David Einhorn’s ownership percentage was increasing and, to avoid likely adverse tax consequences from further increases, agreed to repurchase shares from his affiliated trust so his ownership percentage remains approximately constant.

Key Details

• The repurchase agreement obligates the company to buy from the Seller a number of Ordinary Shares equal to 33% of the aggregate Ordinary Shares the company repurchases (via open market, privately negotiated transactions and/or Rule 10b5‑1 plans) under the board‑approved Share Repurchase Authorization during Aug 7, 2026–Oct 26, 2026. Shares purchased from the Seller will be rounded down to whole shares.
• Purchase price paid to the Seller will equal the weighted average price per Ordinary Share (excluding commissions) paid by the company for repurchases during the Period.
• The repurchase transactions are expected to be consummated on or about October 30, 2026. The agreement can be terminated by mutual written consent, if closing does not occur by Oct 30 (subject to certain conditions), or if the company makes no repurchases under the authorization by Oct 26, 2026.
• The filing also furnished the company’s Q2/first‑half 2026 earnings press release and an investor presentation (Exhibits 99.1 and 99.2).

Why It Matters
This disclosure combines corporate results with a structured share‑buyback step designed to stabilize the chairman’s ownership percentage without preventing the company’s broader repurchase program. For investors, the arrangement clarifies how repurchases will be allocated (including a fixed portion to Mr. Einhorn’s trust) and provides timing (Aug 7–Oct 26 repurchase window; expected close ~Oct 30). The repurchase activity is part of the board‑approved buyback program, which can affect shares outstanding and per‑share metrics; the filing also supplies the company’s Q2 financial results and investor materials for more detail.