SEC Form 4 · accession 0001140361-17-023873
OVERSEAS SHIPHOLDING GROUP INC · OSG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
A later amendment supersedes this filing — read the amendment. The figures below are kept as originally reported (version chain, not an overwrite).
Reporting owner
PAULSON & CO. INC.
10% Owner
Period of report
Jun 1, 2017
Accepted (ET)
Jun 5, 2017 · 9:52 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000075208
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common Stock, par value $0.01 per shareF1,F2 | Jun 1, 2017 | M | 693,257 | $0.01 | A | 11,002,778 | I | By Managed Funds and Accounts |
| Class A Common Stock, par value $0.01 per shareF1,F2,F3 | Jun 1, 2017 | F | 2,211 | $3.1213 | D | 11,000,557 | I | By Managed Funds and Accounts |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Class A Warrants (Right to Buy)F1,F2,F4 | $0.01 | Jun 1, 2017 | M | 693,257 | D | — | — | Class A Common Stock, par value $0.01 | 693,257 | 0 | D |
Explanation of responses
- F1Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.
- F2Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.
- F3Reflects 2,211 shares withheld by the Issuer at the volume weighted average price of $3.1213 per share less an exercise price of $0.01 per share to fund the cashless exercise of 693,257 Class A Warrants owned by Paulson.
- F4The Warrants may be exercised only with the Issuer's consent and subject to certain restrictions set forth in the Issuer's organizational documents. The Warrants expire on August 5, 2039.