Sanjay Sukhrani - Jul 16, 2021 Form 4 Insider Report for Diamond S Shipping Inc. (DSSI)

Role: Chief Operating Officer
Signature: /s/ Sanjay Sukhrani, Chief Operating Officer
Stock symbol: DSSI
Transactions as of: Jul 16, 2021
Transactions value $: -$466,099
Form type: 4
Date filed: 7/20/2021, 09:05 PM
Previous filing: May 12, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DSSI	Common Stock	Tax liability	-$70.2K	-7.24K	-7.7%	$9.69	86.7K	Jul 16, 2021	Direct	F1
transaction	DSSI	Common Stock	Tax liability	-$63.7K	-6.58K	-7.58%	$9.69	80.2K	Jul 16, 2021	Direct	F2
transaction	DSSI	Common Stock	Tax liability	-$118K	-12.2K	-15.23%	$9.69	67.9K	Jul 16, 2021	Direct	F3
transaction	DSSI	Common Stock	Options Exercise		+21.4K	+31.53%		89.4K	Jul 16, 2021	Direct	F4
transaction	DSSI	Common Stock	Tax liability	-$95.6K	-9.87K	-11.04%	$9.69	79.5K	Jul 16, 2021	Direct	F5
transaction	DSSI	Common Stock	Options Exercise		+26.5K	+33.35%		106K	Jul 16, 2021	Direct	F6
transaction	DSSI	Common Stock	Tax liability	-$118K	-12.2K	-11.52%	$9.69	93.8K	Jul 16, 2021	Direct	F7
transaction	DSSI	Common Stock	Disposed to Issuer		-93.8K	-100%		0	Jul 16, 2021	Direct	F8

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	-21.4K	-44.69%	$0.00	26.5K	Jul 16, 2021	Common Stock	21.4K		Direct	F9, F10
transaction	DSSI	Performance Restricted Stock Unit	Options Exercise	$0	-26.5K	-100%	$0.00^*	0	Jul 16, 2021	Common Stock	26.5K		Direct	F9, F11

* 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 15,724 restricted shares granted to the Reporting Person on May 10, 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 14,282 restricted shares granted to the Reporting Person on April 28, 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 26,513 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 28, 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 28, 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 51,941 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	Each PSU represents a contingent right to receive one share of the Company's common stock.
F10	The PSU award was granted on April 28, 2020 pursuant to the Diamond S Shipping Inc. 2019 Equity and Incentive Compensation Plan and vested in full on July 16, 2021.
F11	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.