Tan Christina 4

What Happened
Christina Tan, a non-employee director of Dorian LPG Ltd. (LPG), was granted 6,499 common shares as board compensation on 2026-03-31. The Form 4 shows an acquisition price of $0.00 (award), but a footnote explains the grant represents $175,000 of compensation converted into shares using the volume-weighted average price (VWAP) of $26.9235 for the fiscal year ended March 31, 2026.

Key Details

• Transaction date: 2026-03-31 (reported on Form 4 filed 2026-04-28). The filing appears late relative to the typical 2-business-day reporting requirement.
• Shares granted: 6,499 common shares; reported acquisition price: $0.00 (award).
• Implied grant value: $175,000 divided by VWAP $26.9235 = ~6,499 shares (rounded down).
• Shares owned after transaction: not specified in the filing.
• Footnote: Grant equals $175,000 of director compensation converted to shares using the FY2026 VWAP; rounding to whole shares applied.
• Timeliness: Form filed ~4 weeks after the grant date (potential late filing).

Context
This was a routine equity award for board service (non-employee director compensation), not an open-market buy or sale. Such grants are common and reflect company compensation practices rather than an explicit buy/sell signal from the insider.