Form 4: International Seaways Director, Kristian Johansen, Reports Acquisition of 2,011 Shares

Director Kristian Johansen acquired 2,011 shares of International Seaways, Inc. common stock on June 13, 2024, as part of the company's 2020 Non-Employee Director Incentive Compensation Plan.

Summary

• Kristian Johansen, a director of International Seaways, Inc. (INSW), reported a transaction on June 13, 2024.
• Mr. Johansen acquired 2,011 shares of common stock with no par value per share.
• These shares were granted to him by the issuer under the 2020 Non-Employee Director Incentive Compensation Plan.
• The shares vest on the earlier of June 13, 2025, or the date of the 2025 annual meeting of stockholders.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a standard director compensation practice, indicating alignment of interests with shareholders.

Positives

• The grant of shares to a director aligns their interests with those of the shareholders.

Industry Context

This type of stock grant is a common practice in corporate governance to incentivize and retain board members.

Comparison to Industry Standards

• Stock grants to non-employee directors are a standard practice across publicly traded companies to align their interests with shareholders.
• The vesting schedule of one year or until the next annual meeting is also a typical arrangement.
• Comparable companies in the shipping industry, such as Teekay Corporation and DHT Holdings, also utilize similar equity-based compensation plans for their directors.

Stakeholder Impact

• The stock grant aligns the director's interests with those of the shareholders, potentially leading to better decision-making for the company's long-term success.

Key Dates