John C. Hadjipateras - Jun 27, 2022 Form 4 Insider Report for DORIAN LPG LTD. (LPG)

Signature
By: /s/ John C. Hadjipateras
Stock symbol
LPG
Transactions as of
Jun 27, 2022
Transactions value $
-$204,932
Form type
4
Date filed
8/9/2022, 05:16 PM
Previous filing
Mar 16, 2022
Next filing
Apr 3, 2023

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 Gift $0 -6K -0.36% $0.00 1.66M Jun 27, 2022 Direct
transaction LPG Common Shares, $0.01 par value per share Award $0 +72.5K +4.36% $0.00 1.73M Aug 5, 2022 Direct F1, F2
transaction LPG Common Shares, $0.01 par value per share Tax liability -$170K -10.9K -0.63% $15.70 1.72M Aug 5, 2022 Direct F3
transaction LPG Common Shares, $0.01 par value per share Tax liability -$34.5K -2.2K -0.13% $15.70 1.72M Aug 5, 2022 Direct F4
holding LPG Common Shares, $0.01 par value per share 125K Jun 27, 2022 By spouse
holding LPG Common Shares, $0.01 par value per share 20.7K Jun 27, 2022 By Trust F5
holding LPG Common Shares, $0.01 par value per share 6.25K Jun 27, 2022 By member of the household F6
* 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 2022 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, 2022 (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, 2024 (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 2022 Restricted Stock Award (24,167 shares) on August 5, 2022, 10,856 shares were withheld by the Issuer to satisfy the Reporting Person's tax withholding obligations.
F4 Represents 2,197 shares reacquired to satisfy tax withholding obligations in connection with the vesting of 24,167 shares of restricted stock granted to the Reporting Person on August 5, 2021.
F5 Shares held by the LMG Trust (the "Trust"). The Reporting Person and his wife are trustees of the Trust, and the beneficiary of the Trust is one of their children. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities shall not be deemed an admission of beneficial ownership by the Reporting Person of the reported securities for purposes of Section 16 or any other purpose.
F6 Owned by member of the Reporting Person's household. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities shall not be deemed an admission of beneficial ownership by the Reporting Person of the reported securities for purposes of Section 16 or any other purpose.