Damon Mote - Jul 28, 2022 Form 4 Insider Report for OVERSEAS SHIPHOLDING GROUP INC (OSG)

Role
VP & Chief Admin Officer
Signature
/s/ Damon M. Mote
Stock symbol
OSG
Transactions as of
Jul 28, 2022
Transactions value $
$96,209
Form type
4
Date filed
8/2/2022, 05:13 PM
Previous filing
Mar 24, 2022
Next filing
Mar 1, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OSG Class A Common Stock Options Exercise $127K +62K +32.3% $2.05 254K Jul 28, 2022 Direct F1
transaction OSG Class A Common Stock Tax liability -$31K -15.1K -5.95% $2.05 239K Jul 28, 2022 Direct F2

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 OSG Performance Restricted Stock Units Award $0 -95.4K -100% $0.00* 0 Jul 28, 2022 Class A Common Stock 62K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the vesting of performance restricted stock units granted on March 23, 2021, pursuant to the Overseas Shipholding Group, Inc. 2019 Incentive Compensation Plan for Management. On July 28, 2022, the Human Resources and Compensation Committee of the Board ("Compensation Committee") certified at 65% the achievement of specified performance goals, for the performance period ending June 30, 2022. Each unit represents the right to acquire one share of Class A Common Stock. Settlement of vested units may be in either shares of Class A Common Stock or cash as determined by the Compensation Committee in its discretion.
F2 Represents shares of Class A Common Stock withheld by the registrant in payment of the reporting person's tax withholding liability incurred as a result of the vesting of the Performance Restricted Stock Units.
F3 Represents the number of shares subject to restricted stock units. The units vest upon the satisfaction of specified performance goals, subject to continuous employment by Overseas Shipholding Group, Inc. through the end of the performance period commencing on January 1, 2021 and ending on June 30, 2022.