Lois K. Zabrocky - Nov 17, 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
Stock symbol
INSW
Transactions as of
Nov 17, 2022
Transactions value $
-$709,884
Form type
4
Date filed
11/18/2022, 04:38 PM
Previous filing
Oct 5, 2022
Next filing
Nov 28, 2022

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 $850K +38.7K +30.83% $21.93 164K Nov 17, 2022 Direct F1
transaction INSW Common Stock, no par value per share Tax liability -$1.32M -28.8K -17.52% $45.99 136K Nov 17, 2022 Direct F2
transaction INSW Common Stock, no par value per share Options Exercise $408K +18.9K +13.94% $21.58 154K Nov 17, 2022 Direct F1
transaction INSW Common Stock, no par value per share Tax liability -$643K -14K -9.05% $45.99 140K Nov 17, 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 -38.7K -66.67% 19.4K Nov 17, 2022 Common Stock 38.7K $21.93 Direct F1, F2, F3
transaction INSW Stock Option (Right to Buy) Options Exercise -18.9K -33.33% 37.8K Nov 17, 2022 Common Stock 18.9K $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.