SEC Form 4 · accession 0001140361-16-059875
OVERSEAS SHIPHOLDING GROUP INC · OSG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lois K Zabrocky
Officer — SVP and Pres. of Int'l FlagSBU
Period of report
Mar 30, 2016
Accepted (ET)
Apr 1, 2016 · 6:48 pm EDT
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 | $0.00 | Mar 30, 2016 | A | 88,832 | A | — | — | Class A Common Stock | 88,832 | 88,832 | D |
| Stock Option (Right to Buy)F2 | $1.97 | Mar 30, 2016 | A | 236,486 | A | — | Mar 29, 2026 | Class A Common Stock | 236,486 | 236,486 | 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 March 30, 2016 (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 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.
- F2The options to purchase these shares of Class A Common Stock were granted pursuant to the Plan and will become exercisable as to one-third of such shares on the first, second and third anniversaries of the Vesting Commencement Date.