Form 4: International Seaways Executive Reports Stock Transactions Following Vesting of Performance Restricted Stock Units

Senior Vice President Derek G. Solon reports acquisition and disposal of International Seaways stock related to the vesting of performance restricted stock units.

Summary

• On February 29, 2024, Derek G. Solon, a Senior Vice President at International Seaways, Inc. (INSW), reported transactions involving the company's common stock.
• These transactions are related to the vesting of 7,675 performance restricted stock units under the International Seaways, Inc. Management Incentive Compensation Plan.
• Solon acquired 7,675 shares of common stock upon the vesting of these units.
• Simultaneously, 3,896 shares were withheld by INSW to cover Solon's tax withholding liability resulting from the vesting.
• Following these transactions, Solon directly owns 42,553 shares of International Seaways common stock.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing related to executive compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Industry Context

Executive stock transactions are a routine part of corporate governance, reflecting compensation structures and alignment of executive interests with shareholder value. Form 4 filings are standard practice for reporting these transactions to the SEC.

Stakeholder Impact

• The vesting of stock units aligns executive compensation with company performance, potentially benefiting shareholders.

Key Dates