SEC Form 4 · accession 0001567619-19-006426
International Seaways, Inc. · INSW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James D Small III
Officer — CAO,SVP,Sec. & General Counsel
Period of report
Mar 5, 2019
Accepted (ET)
Mar 7, 2019 · 6:00 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 5, 2019 | M | 7,224 | — | A | 32,250 | D | |
| Common Stock, no par value per shareF1 | Mar 5, 2019 | F | 2,845 | — | D | 29,405 | 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 5, 2019 | M | 5,254 | D | — | — | Common Stock | 7,224 | 0 | D |
Explanation of responses
- F1These 7,224 shares of Common Stock were acquired upon the vesting of 5,254 performance restricted stock units on March 5, 2019 pursuant to the International Seaways, Inc. Management Incentive Compensation Plan (the "Plan"), which vested units settled in shares of Common Stock. In connection with the vesting of the units, 2,845 shares were withheld by International Seaways, Inc. ("INSW") in payment of the Reporting Person's tax withholding liability incurred as a result of the settlement of the units.
- F2These 5,254 performance restricted stock units vested on March 5, 2019 and were settled in shares of Common Stock as reported in Table I of this Form 4.