SEC Form 4 · accession 0001140361-16-088552
International Seaways, Inc. · INSW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
A later amendment supersedes this filing — read the amendment. The figures below are kept as originally reported (version chain, not an overwrite).
Reporting owner
James D Small III
Officer — CAO, S & General Counsel
Period of report
Nov 30, 2016
Accepted (ET)
Dec 2, 2016 · 2:23 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001679049
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, no par value per shareF1 | Nov 30, 2016 | J | 1,842 | — | A | 1,842 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F2 | — | Nov 30, 2016 | A | 0 | A | — | — | Common Stock | — | 0 | D |
| Restricted Stock UnitsF2 | — | Nov 30, 2016 | A | 0 | A | — | — | Common Stock | — | 0 | D |
Explanation of responses
- F1The Reporting Person received these shares of Common Stock of International Seaways, Inc. ("INSW") as a result of the distribution on November 30, 2016 of 0.3333 shares of common stock of INSW for every one share of Class A Common Stock of Overseas Shipholding Group, Inc. ("OSG") held by the Reporting Person on November 18, 2016, the record date for the spin-off transaction.
- F2The Reporting Person will receive options and restricted stock units for common stock of INSW that is equivalent value as determined by the Compensation Committee of the Board of Directors of INSW pursuant to the terms of the Employee Matters Agreement for the Reporting Person's invested options and restricted stock units of Class A Common Stock of OSG. That calculation cannot be made until January 2017.