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GREENLIGHT CAPITAL RE, LTD. Director's Dealing 2008

Aug 13, 2008

32963_dirs_2008-08-13_1f76a08e-69f1-4ea2-84a4-342c431b3d32.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Greenlight Capital Re, Ltd. (GLRE)
CIK: 0001385613
Period of Report: 2008-08-11

Reporting Person: Goldberg Leonard R (Director, Chief Executive Officer)

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2008-08-11 Stock Option (right to buy) $29.39 A 80000 Acquired 2018-08-11 Class A Ordinary Shares (80000) Direct

Footnotes

F1: These stock options were granted pursuant to Section 5(f) of that certain employment agreement dated August 7, 2008, by and among Greenlight Capital Re, Ltd., Greenlight Reinsurance, Ltd. and Leonard Goldberg.

F2: The options vest in four equal annual installments beginning on August 11, 2008.