SEC Form 4 · accession 0001140361-15-005991
OVERSEAS SHIPHOLDING GROUP INC · OSG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ian T Blackley
Officer — President and CEO
Period of report
Feb 10, 2015
Accepted (ET)
Feb 12, 2015 · 4:46 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000075208
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F3 | $0.00 | Feb 10, 2015 | A | 256,410 | A | — | — | Class A Common Stock | 256,410 | 256,410 | D |
| Stock Option (Right to buy)F2,F3 | $3.25 | Feb 10, 2015 | A | 599,520 | A | — | Jan 19, 2015 | Class A Common Stock | 599,520 | 599,520 | D |
Explanation of responses
- F1These restricted stock units were granted pursuant to the Overseas Shipholding Group, Inc. ("OSG") Management Incentive Compensation Plan (the "Plan") and vest as to one-third of such units on each of the first, second and the third anniversaries of January 20, 2015 (the "Vesting Commencement Date"). Each unit represents the right to acquire one share of Class A Common Stock. Settlement of vested units may be in either shares of Class A Common Stock or cash as determined by the Compensation and Human Resources Committee of the Board in its discretion. Settlement must occur no later than March 15 of the calendar year following vesting of the units.
- F2The options to purchase these shares of Class A Common Stock was granted pursuant to the Plan and will become excercisable as to one-third of such shares on the first, second and third anniversary of the Vesting Commencement Date.
- F3The grant of this security is subject to the approval of the Plan by OSG's stockholders by February 10, 2016.