GREENLIGHT CAPITAL RE, LTD. 10-Q

Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS The Board has adopted a share and notes repurchase plan. On March 26, 2020, the Board of Directors extended the share repurchase plan to June 30, 2021 and increased the number of shares authorized to be repurchased to 5.0 million Class A ordinary shares or securities convertible into Class A ordinary shares in the open market, through privately negotiated transactions or Rule 10b5-1 stock trading plans. In addition, the Board of Directors also authorized the Company to repurchase up to $25.0 million aggregate face amount of the Company’s 4.00% Convertible Senior Notes due 2023 (the “Notes”) in privately negotiated transactions, in open market repurchases or pursuant to one more tender offers. The Company is not required to repurchase any of the Class A ordinary shares or Notes and the repurchase plans may be modified, suspended or terminated at the election of our Board of Directors at any time without prior notice. There were no repurchases of the Notes during the three months ended September 30, 2020. The table below details the share repurchases that were made under the plan during the three months ended September 30, 2020: Issuer Purchases of Equity Securities Period Total Number of Shares Purchased (1) Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1) Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs (1) July 1 - 31, 2020 272,416 $ 6.65 272,416 3,565,925 August 1 - 31, 2020 234,336 $ 7.15 234,336 3,331,589 September 1 - 30, 2020 206,008 $ 6.86 206,008 3,125,581 Total 712,760 $ 6.87 712,760 3,125,581 (1) Class A ordinary shares. Item 3. DEFAULTS UPON SENIOR SECURITIES None. 52 Return to table of contents Item 4. MINE SAFETY DISCLOSURES Not applicable