SEC Form 4/A · accession 0001140361-18-012893
International Seaways, Inc. · INSW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
This is an amendment (Form 4/A). It replaces an earlier filing for the same period.
Reporting owner
Lois K Zabrocky
Officer — President and CEO
Period of report
Mar 6, 2018
Accepted (ET)
Mar 9, 2018 · 6:22 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 | Mar 6, 2018 | M | 5,371 | — | A | 10,114 | D | |
| Common Stock, no par value per shareF1 | Mar 6, 2018 | F | 1,946 | — | D | 8,168 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Restricted Stock UnitsF2 | $0.00 | Mar 6, 2018 | M | 4,670 | D | — | — | Common Stock | 5,371 | 0 | D |
Explanation of responses
- F1These 5,371 shares of Common Stock were acquired upon the full vesting and settlement of 4,670 performance restricted stock units on March 6, 2018 pursuant to the International Seaways, Inc. Management Incentive Compensation Plan, which units were settled in shares of Common Stock. In connection with the settlement of the units, 1,946 shares were withheld by International Seaways, Inc. in payment of the Reporting Person's tax withholding liability incurred as a result of the settlement of the units. The previously filed Form 4 incorrectly understated the number of Performance RSUs vesting and settling under the relevant grant, as well as the number of shares withheld in payment of the reporting person's tax withholding liability.
- F2These 4,670 performance restricted stock units settled on March 6, 2018 in shares of Common Stock as reported in Table I of this Form 4.