Alexander C. Hadjipateras - Aug 5, 2021 Form 4 Insider Report for DORIAN LPG LTD. (LPG)

Role
EVP at Dorian LPG (USA) LLC
Signature
By: /s/ Alexander C. Hadjipateras
Stock symbol
LPG
Transactions as of
Aug 5, 2021
Transactions value $
-$40,034
Form type
4
Date filed
8/9/2021, 09:30 PM
Previous filing
Jun 17, 2021
Next filing
Sep 13, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LPG Common Shares, $0.01 par value per share Award $0 +18K +27.9% $0.00 82.5K Aug 5, 2021 Direct F1, F2
transaction LPG Common Shares, $0.01 par value per share Tax liability -$24.6K -1.88K -2.28% $13.10 80.6K Aug 5, 2021 Direct F3
transaction LPG Common Shares, $0.01 par value per share Tax liability -$15.4K -1.18K -1.46% $13.10 79.5K Aug 5, 2021 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted Stock Award (the "August 2021 Restricted Stock Award"), pursuant to which the applicable restricted shares shall vest ratably and in three equal installments commencing with, and on the subsequent anniversaries of, August 5, 2021 (the "Grant Date"). Notwithstanding the foregoing, the restricted shares (the "Vesting Shares") to be issued to the Reporting Person that are eligible to vest on August 5, 2023 (the "Scheduled Vesting Date") shall vest when and only if the volume weighted average price of the Issuer's common shares
F2 (continued from footnote 1) over any consecutive 15-day period prior to the final business day of the tenth fiscal quarter following the Grant Date of the Vesting Shares, as reported on Bloomberg (or on such other internationally recognized financial information provider), equals or exceeds, 95% of the book value of an Issuer share, which shall be determined (in good faith by the management of the Issuer) in respect of the Scheduled Vesting Date, as of the first business day of the fiscal quarter immediately preceding the Scheduled Vesting Date.
F3 In connection with the vesting of a portion of the August 2021 Restricted Stock Award (6,000 shares) on August 5, 2021, 1,881 shares were withheld by the Issuer to satisfy the Reporting Person's tax withholding obligations.
F4 Represents 1,175 shares reacquired to satisfy tax withholding obligations in connection with the vesting of 3,750 shares of restricted stock granted to the Reporting Person on August 5, 2019.