Craig H. Stevenson Jr - Jul 16, 2021 Form 4 Insider Report for Diamond S Shipping Inc. (DSSI)

Signature
/s/ Craig H. Stevenson, Jr.
Stock symbol
DSSI
Transactions as of
Jul 16, 2021
Transactions value $
-$872,003
Form type
4
Date filed
7/20/2021, 09:04 PM
Previous filing
May 19, 2021
Next filing
Jul 30, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DSSI Common Stock Tax liability -$192K -19.8K -6.98% $9.69 264K Jul 16, 2021 Direct F1
transaction DSSI Common Stock Tax liability -$109K -11.3K -4.28% $9.69 253K Jul 16, 2021 Direct F2
transaction DSSI Common Stock Tax liability -$203K -21K -8.3% $9.69 232K Jul 16, 2021 Direct F3
transaction DSSI Common Stock Options Exercise +43.1K +18.6% 275K Jul 16, 2021 Direct F4
transaction DSSI Common Stock Tax liability -$164K -16.9K -6.17% $9.69 258K Jul 16, 2021 Direct F5
transaction DSSI Common Stock Options Exercise +53.3K +20.68% 311K Jul 16, 2021 Direct F6
transaction DSSI Common Stock Tax liability -$203K -21K -6.74% $9.69 290K Jul 16, 2021 Direct F7
transaction DSSI Common Stock Disposed to Issuer -290K -100% 0 Jul 16, 2021 Direct F8
transaction DSSI Common Stock Disposed to Issuer -208K -100% 0 Jul 16, 2021 Held by limited liability company F9, F10

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction DSSI Performance Restricted Stock Unit Options Exercise $0 -43.1K -44.69% $0.00 53.3K Jul 16, 2021 Common Stock 43.1K Direct F11, F12
transaction DSSI Performance Restricted Stock Unit Options Exercise $0 -53.3K -100% $0.00* 0 Jul 16, 2021 Common Stock 53.3K Direct F11, F13
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares withheld by the Company to satisfy withholding taxes due in connection with the vesting of 50,316 restricted shares granted to the Reporting Person on May 15, 2019, which vested on July 16, 2021. The net settlement price was based upon the closing price of the Company's common shares on the New York Stock Exchange on the vesting date.
F2 Represents shares withheld by the Company to satisfy withholding taxes due in connection with the vesting of 28,711 restricted shares granted to the Reporting Person on April 30, 2020, which vested on July 16, 2021. The net settlement price was based upon the closing price of the Company's common shares on the New York Stock Exchange on the vesting date.
F3 Represents shares withheld by the Company to satisfy withholding taxes due in connection with the vesting of 53,300 restricted shares granted to the Reporting Person on March 18, 2021, which vested on July 16, 2021. The net settlement price was based upon the closing price of the Company's common shares on the New York Stock Exchange on the vesting date.
F4 Represents shares acquired by the Reporting Person in connection with the vesting of the performance restricted stock unit ("PSU") award that was granted on April 30, 2020 pursuant to the Diamond S Shipping Inc. 2019 Equity and Incentive Compensation Plan.
F5 Represents shares withheld by the Company to satisfy withholding taxes due in connection with the vesting of the PSU award granted to the Reporting Person on April 30, 2020, which vested on July 16, 2021. The net settlement price was based upon the closing price of the Company's common shares on the New York Stock Exchange on the vesting date.
F6 Represents shares acquired by the Reporting Person in connection with the vesting of the PSU award that was granted on March 18, 2021 pursuant to the Diamond S Shipping Inc. 2019 Equity and Incentive Compensation Plan.
F7 Represents shares withheld by the Company to satisfy withholding taxes due in connection with the vesting of the PSU award granted to the Reporting Person on March 18, 2021, which vested on July 16, 2021. The net settlement price was based upon the closing price of the Company's common shares on the New York Stock Exchange on the vesting date.
F8 Disposed of in exchange for 160,608 shares of International Seaways, Inc. ("INSW") common stock in connection with the closing of the merger of INSW and the Company pursuant to that certain Agreement and Plan of Merger dated March 30, 2021, by and among INSW, the Company and Dispatch Transaction Sub, Inc. (the "INSW Merger Agreement").
F9 Disposed of in exchange for 115,075 shares of INSW common stock in connection with the closing of the merger of INSW and the Company pursuant to the ISNW Merger Agreement.
F10 These shares of common stock are held by Pecos Shipping LLC, of which Mr. Stevenson is the controlling member. The filing of this Form 4 should not be deemed an admission that Mr. Stevenson is the beneficial owner of these 207,812 shares of common stock, except to the extent of his pecuniary interest.
F11 Each PSU represents a contingent right to receive one share of the Company's common stock.
F12 The PSU award was granted on April 30, 2020 pursuant to the Diamond S Shipping Inc. 2019 Equity and Incentive Compensation Plan and vested in full on July 16, 2021.
F13 The PSU award was granted on March 18, 2021 pursuant to the Diamond S Shipping Inc. 2019 Equity and Incentive Compensation Plan and vested in full on July 16, 2021.