Orla Gregory - Dec 8, 2023 Form 4 Insider Report for Enstar Group LTD (ESGR)

Role: President, Director
Signature: /s/ Audrey B. Taranto by power of attorney
Stock symbol: ESGR
Transactions as of: Dec 8, 2023
Transactions value $: -$2,747,800
Form type: 4
Date filed: 12/8/2023, 04:39 PM
Previous filing: Mar 22, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ESGR	Ordinary Shares	Options Exercise	$2.96M	+20K	+31.5%	$147.75	83.5K	Dec 8, 2023	Direct	F1, F2
transaction	ESGR	Ordinary Shares	Disposed to Issuer	-$5.7M	-20K	-23.95%	$285.14	63.5K	Dec 8, 2023	Direct	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ESGR	Cash-Settled Stock Appreciation Right	Options Exercise	$0	-20K	-100%	$0.00^*	0	Dec 8, 2023	Ordinary Shares	20K	$147.75	Direct	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Exercise of the Cash-Settled Stock Appreciation Rights (the "SARs") is reported as the simultaneous purchase and sale to the issuer of the number of ordinary shares for which the SARs were exercised. Pursuant to their terms, the SARs were only exercisable in cash and the reporting person did not receive any ordinary shares.
F2	Includes 13,465 Restricted Share Units that vest in three approximately equal annual installments beginning on March 20, 2024.
F3	The SARs are settled in cash, and the reporting person will not receive issuer ordinary shares upon exercise.