Form 4: International Seaways Director Craig H. Stevenson Jr. Reports Stock Grant and Indirect Ownership

Director Craig H. Stevenson Jr. reports receiving 2,011 shares of International Seaways stock and indirect ownership of 65,075 shares through Pecos Shipping LLC.

Summary

• Craig H. Stevenson Jr., a director of International Seaways, Inc. (INSW), filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On June 13, 2024, Mr. Stevenson received 2,011 shares of common stock as a grant under the company's 2020 Non-Employee Director Incentive Compensation Plan.
• These shares will vest on the earlier of June 13, 2025, or the date of the 2025 annual meeting of stockholders.
• The filing also indicates that Mr. Stevenson indirectly owns 65,075 shares of common stock through Pecos Shipping LLC, where he is the controlling member.
• Mr. Stevenson disclaims beneficial ownership of these 65,075 shares except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing stock ownership. It doesn't contain information that would significantly sway investor sentiment positively or negatively.

Positives

• The grant of shares to a director aligns his interests with those of the shareholders.
• The vesting schedule encourages continued service on the board.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This filing is a routine disclosure related to director compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding the alignment of interests between management and shareholders.

Stakeholder Impact

• Shareholders are informed about the director's stock ownership and alignment of interests.
• The stock grant serves as compensation for the director's service.

Key Dates