On March 10, 2026, Kestrel Group Ltd's Compensation Committee approved restricted share awards (RSAs) totaling $650,000 for each of its executives, Mr. Terry Ledbetter, Mr. Bradford Ledbetter, and Mr. Haveron, as part of the company's 2025 Equity Incentive Plan for the fiscal year 2026. Additionally, the Committee granted RSAs of $1,300,000 each for the fiscal year 2025, compensating the executives for not receiving equity awards during that period when other employees did. The RSAs for 2025 will vest in equal installments, with the first installment on the grant date and subsequent installments on the first two anniversaries. The 2026 RSAs will vest on the first three anniversaries of the grant date. This decision reflects the company's commitment to aligning executive compensation with performance and retention strategies. Furthermore, the Committee reviewed and canceled certain performance-based equity awards previously granted to Mr. Haveron under the Maiden equity incentive plan, concluding they were no longer capable of vesting. This move is expected to enhance the company's governance and operational execution by ensuring that executive compensation is tied to performance metrics and aligning the interests of executives with those of shareholders.

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