SEC Form 4 · accession 0001140361-17-014244
International Seaways, Inc. · INSW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey Pribor
Officer — SVP,Chief Financial Officer &T
Period of report
Mar 29, 2017
Accepted (ET)
Mar 31, 2017 · 8:24 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001679049
Table I — non-derivative securities
No Table I lines on this filing.
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)F1 | $19.13 | Mar 29, 2017 | A | 17,442 | A | — | Mar 29, 2027 | Common Stock | 17,442 | 17,442 | D |
| Restricted Stock UnitsF2 | $0.00 | Mar 29, 2017 | A | 7,841 | A | — | — | Common Stock | 7,841 | 7,841 | D |
Explanation of responses
- F1On March 29, 2017, International Seaways, Inc. ("INSW") granted the Reporting Person pursuant to the INSW Management Incentive Compensation Plan (the "Plan") 17,442 options to purchase 17,442 shares of Common Stock at an exercise price of $19.13 per share which will become exercisable as to one third of such shares on the first, second and third anniversary of the date of grant.
- F2On March 29, 2017, INSW granted the Reporting Person pursuant to the Plan 7,841 restricted stock units which units vest as to one-third of such units on each of the first, second and third anniversaries of the date of the grant. Each unit represents the right to acquire one share of Common Stock. Settlement of vested units which may be in either shares of Common Stock or cash as determined by the Human Resources and Compensation Committee of the Board in its discretion. Settlement must occur no later than March 15 of the calendar year following the vesting of the units.