Form 4: International Seaways Executive Exercises Stock Options
SEC Form 4 Filing
William F. Nugent, Senior Vice President of International Seaways, Inc., exercised stock options and had shares withheld to cover the exercise price and taxes.
Summary
- On May 8, 2024, William F. Nugent, a Senior Vice President at International Seaways, Inc., exercised stock options for 4,662 shares at a price of $21.58 per share.
- The exercise was conducted on a net share settlement basis, resulting in the issuance of 1,552 shares to Mr. Nugent.
- The company withheld 3,110 shares to cover the aggregate exercise price and withholding taxes, at a price of $61.29.
- Following these transactions, Mr. Nugent beneficially owns 57,803 shares of International Seaways, Inc.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock option exercises, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure of stock option exercises by a company executive, which is a common practice in publicly traded companies. It provides transparency into the executive's holdings and alignment with shareholder interests.
Stakeholder Impact
- The transaction may have a minor impact on shareholders due to the increase in outstanding shares, but it is unlikely to be significant.
Key Dates
| Date | Description |
|---|---|
| 03/17/2024 | Date 100% of the options were vested |
| 05/08/2024 | Date of stock option exercise and share withholding |
| 05/10/2024 | Date of signature on the Form 4 filing |
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