SCHEDULE: Diana Shipping Insider Ownership Shifts to 20.40%

Semiramis Paliou and affiliated entities have amended their Schedule 13D filing to report a change in beneficial ownership of Diana Shipping Inc. common stock, now holding 20.40%.

Summary

• Amendment No. 4 to Schedule 13D was filed by Semiramis Paliou, Tuscany Shipping Corp., and 4 Sweet Dreams S.A. (collectively, the "Reporting Persons").
• The purpose of this amendment is solely to report a change in the Reporting Persons' ownership percentage in Diana Shipping Inc.
• As of December 10, 2025, Diana Shipping Inc. had 115,785,294 Shares outstanding.
• Semiramis Paliou, a citizen of Greece, is the owner of all issued and outstanding shares of Tuscany Shipping Corp. and 4 Sweet Dreams S.A., and is deemed to indirectly beneficially own the shares held by these entities.
• Tuscany Shipping Corp. beneficially owns 18,154,827 Shares, representing 15.09% of the Issuer's outstanding shares. This includes 4,555,379 shares of common stock issuable upon exercise of 2,719,889 warrants distributed on December 14, 2023.
• 4 Sweet Dreams S.A. beneficially owns 6,670,433 Shares, representing 5.69% of the Issuer's outstanding shares. This includes 1,352,453 shares of common stock issuable upon exercise of 807,512 warrants distributed on December 14, 2023.
• Semiramis Paliou is deemed to indirectly beneficially own an aggregate of 24,825,260 Shares, representing 20.40% of the Issuer's outstanding shares. These Shares include 6,670,433 shares of common stock upon exercise of 5,907,832 warrants distributed on December 14, 2023.
• The Reporting Persons have shared voting power and shared dispositive power over their respective beneficially owned shares.
• No transactions in the Shares were effected by the Reporting Persons during the past 60 days.
• The Reporting Persons have not been convicted in a criminal proceeding or been a party to a civil proceeding related to securities laws in the last five years.

Sentiment

Score: 5

Explanation: The filing is a neutral, factual report of a change in beneficial ownership percentage, not indicating any inherently positive or negative developments for the company or its stock.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Provides updated transparency regarding a significant shareholder's ownership stake and its composition, including shares from warrants. The continued substantial concentration of ownership by Semiramis Paliou and her entities may influence corporate decisions.

Key Dates

Recommendation

This filing is a routine update of beneficial ownership by a significant insider and does not provide new information that would fundamentally alter the investment thesis for Diana Shipping Inc. It confirms the existing substantial stake of Semiramis Paliou and her affiliated entities. Without additional operational or financial news, a 'hold' recommendation is appropriate as the filing itself does not present a compelling reason to buy or sell.

Keywords

Diana Shipping Inc., beneficial ownership, Schedule 13D, Semiramis Paliou, Tuscany Shipping Corp., 4 Sweet Dreams S.A., common stock, warrants, insider ownership, shipping