04/09/2025 | Press release | Distributed by Public on 04/09/2025 17:16
FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Restricted Stock Units(2) | $ 0 | 04/07/2025 | D(2) | 7,054(2) | (2) | (2) | Common Stock(2) | 7,054(2) | (2) | 0 | D | ||||
Restricted Stock Units(3) | $ 0 | 04/07/2025 | D(3) | 4,410(3) | (3) | (3) | Common Stock(3) | 4,410(3) | (3) | 0 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Solon Derek G. C/O INTERNATIONAL SEAWAYS, INC. 600 THIRD AVENUE, 39TH FLOOR NEW YORK, NY 10016 |
Senior Vice President |
/s/James D. Small III, Attorney-in-Fact, pursuant to power of attorney previously filed | 04/09/2025 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | These 11,464 shares of Common Stock are being acquired in connection with the vesting of (1) 7,054 restricted stock units on April 7, 2025 pursuant to the International Seaways, Inc. 2020 Management Incentive Compensation Plan (the "2020 Plan") and (2) 4,410 restricted stock units on April 7, 2025 pursuant to the 2020 Plan which vested units are being settled in shares of Common Stock. In connection with the vesting of the 11,464 units, 5,542 shares are being withheld by International Seaways, Inc. in payment of the Reporting Person's tax withholding liability incurred as a result of the vesting of the units. |
(2) | These 7,054 restricted stock units vested on April 7, 2025 and are being settled in shares of Common Stock as reported in Table I of this Form 4. |
(3) | These 4,410 restricted stock units vested on April 7, 2025 and are being settled in shares of Common Stock as reported in Table I of this Form 4. |