Lois K. Zabrocky - 17 Nov 2022 Form 4 Insider Report for International Seaways, Inc. (INSW)

Role
President and CEO, Director
Signature
/s/James D. Small III, Attorney-in-Fact, pursuant to power of attorney previously filed
Issuer symbol
INSW
Transactions as of
17 Nov 2022
Net transactions value
-$709,884
Form type
4
Filing time
18 Nov 2022, 16:38:41 UTC
Previous filing
05 Oct 2022
Next filing
28 Nov 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INSW Common Stock, no par value per share Options Exercise $849,546 +38,739 +31% $21.93 164,373 17 Nov 2022 Direct F1
transaction INSW Common Stock, no par value per share Tax liability $1,324,374 -28,797 -18% $45.99 135,576 17 Nov 2022 Direct F2
transaction INSW Common Stock, no par value per share Options Exercise $407,884 +18,901 +14% $21.58 154,477 17 Nov 2022 Direct F1
transaction INSW Common Stock, no par value per share Tax liability $642,940 -13,980 -9% $45.99 140,497 17 Nov 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 INSW Stock Option (Right to Buy) Options Exercise -38,739 -67% 19,370 17 Nov 2022 Common Stock 38,739 $21.93 Direct F1, F2, F3
transaction INSW Stock Option (Right to Buy) Options Exercise -18,901 -33% 37,802 17 Nov 2022 Common Stock 18,901 $21.58 Direct F1, F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These stock options were exercised on a net share settlement basis. Accordingly, the Issuer is delivering in aggregate 14,863 shares to Mrs. Zabrocky in connection with this option exercise, with no shares being sold externally.
F2 Represents the number of shares withheld by the Issuer to satisfy (i) the aggregate exercise price for the options and (ii) withholding taxes related to such exercise.
F3 66% of the options granted on April 2, 2020 had vested and were exercisable on April 2, 2022.
F4 33% of the options granted on March 17, 2021 had vested and were exercisable on March 17, 2022.