Form 4: International Seaways SVP, CFO Acquires Shares Through Vesting of Restricted Stock Units

Jeffrey Pribor, SVP and CFO of International Seaways, Inc., acquired 3,524 shares of common stock through the vesting of restricted stock units on March 8, 2024, while also having 1,729 shares withheld for tax obligations.

Summary

• On March 8, 2024, Jeffrey Pribor, the SVP and CFO of International Seaways, Inc. (INSW), acquired 3,524 shares of common stock due to the vesting of restricted stock units.
• These units vested under the International Seaways, Inc. 2020 Management Incentive Compensation Plan.
• As part of the vesting, 1,729 shares were withheld by INSW to cover Pribor's tax withholding liability.
• Following these transactions, Pribor directly owns 83,956 shares of INSW common stock.
• The restricted stock units were settled in shares of Common Stock as reported in Table I of this Form 4.

Sentiment

Score: 6

Explanation: The document reflects a routine transaction related to executive compensation. It's neither overwhelmingly positive nor negative, but rather a standard part of corporate governance.

Positives

• The vesting of restricted stock units indicates a continued alignment of management's interests with those of the shareholders.
• The acquisition of shares by a key executive could be interpreted positively by the market.

Future Outlook

The document does not contain specific forward-looking statements, but the continued vesting of stock units suggests ongoing compensation and incentive plans for management.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies within the shipping industry. It reflects standard practices for incentivizing and retaining key personnel.

Comparison to Industry Standards

• Executive compensation packages including restricted stock units are common across the shipping industry.
• Companies like Teekay Corporation and DHT Holdings also utilize similar equity-based compensation plans to align executive interests with shareholder value.
• The vesting schedules and tax withholding practices are generally consistent with industry norms for executive compensation.

Stakeholder Impact

• Shareholders may view the vesting of restricted stock units as a positive sign of management's commitment to the company's long-term success.
• Employees may be impacted by the overall compensation structure and incentive plans.

Key Dates