Form 4: International Seaways Executive Acquires Shares After Vesting of Restricted Stock Units

Adewale Oshodi, Vice President & Controller of International Seaways, reports acquisition of shares following the vesting of performance restricted stock units.

Summary

• Adewale Oshodi, Vice President & Controller of International Seaways, Inc. (INSW), filed a Form 4 on March 3, 2025, reporting changes in beneficial ownership.
• On February 27, 2025, Mr. Oshodi acquired 5,037 shares of common stock after the vesting of 4,030 performance restricted stock units granted on April 7, 2022, under the company's 2020 Management Incentive Compensation Plan.
• In connection with the vesting, 2,863 shares were withheld by INSW to cover Mr. Oshodi's tax withholding liability.
• Following the reported transactions, Mr. Oshodi directly owns 8,400 shares of International Seaways common stock.
• The performance restricted stock units vested on February 27, 2025, and were settled in shares of common stock.

Sentiment

Score: 6

Explanation: Neutral sentiment as it reflects a routine transaction related to executive compensation. The vesting of stock units is a standard practice.

Positives

• The vesting of restricted stock units and subsequent acquisition of shares indicates confidence in the company's performance by the executive.
• The acquisition increases the executive's stake in the company, aligning their interests with those of shareholders.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency regarding the transactions of company insiders. This filing indicates standard compensation practices involving equity-based awards.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns executive interests with company performance.

Key Dates