Form 4: International Seaways CEO Lois Zabrocky Reports Stock Transactions Following Vesting of Performance Restricted Stock Units
SEC Form 4 Filing
Lois Zabrocky, President and CEO of International Seaways, reports the acquisition and disposal of company stock related to the vesting of performance restricted stock units on February 29, 2024.
Summary
- On February 29, 2024, Lois Zabrocky, the President and CEO of International Seaways, acquired 31,121 shares of common stock due to the vesting of performance restricted stock units under the company's Management Incentive Compensation Plan.
- Simultaneously, 15,878 shares were withheld by International Seaways to cover Ms. Zabrocky's tax obligations resulting from the vesting.
- Following these transactions, Ms. Zabrocky directly owns 152,487 shares of International Seaways common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions related to executive compensation. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests between management and shareholders.
Stakeholder Impact
- The transactions may have a minor impact on shareholders by slightly increasing the number of outstanding shares.
- The vesting of stock units incentivizes the CEO to improve company performance, potentially benefiting shareholders.
Key Dates
| Date | Description |
|---|---|
| 02/29/2024 | Date of transaction: Vesting of performance restricted stock units and subsequent stock acquisition and tax withholding. |
| 03/04/2024 | Date of signature on the Form 4 filing. |
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