OceanPal (SVRN) Director Alexios Chrysochoidis Cancels Preferred Shares

What Happened

• Director Alexios Chrysochoidis reported a disposition to the issuer: he transferred 383 Series C Preferred Shares to OceanPal for cancellation on July 31, 2026. No price or cash proceeds were reported; this was a cancellation of the derivative security rather than an open-market sale. According to the filing, he no longer beneficially owns any securities of the company after the transaction.

Key Details

• Transaction date: July 31, 2026
• Transaction type/code: Disposition to issuer (cancellation) — 383 shares; price: N/A; security: Series C Preferred Shares (derivative)
• Shares owned after transaction: 0 (no beneficial ownership remaining)
• Footnote: Reporting person transferred all of his Series C Preferred Shares to the issuer for cancellation (footnote F1)
• Filing timeliness: Form 4 filed 2026-08-04 (filed within the standard two-business-day window)

Context

• This was a transfer/cancellation of preferred (derivative) shares back to the company, not a sale on the open market, and no cash proceeds or market price were reported. Such cancellations are administrative/capital-structure actions and do not necessarily indicate insider sentiment about the company’s stock. Purchases are generally more informative about insider confidence than cancellations or gifts.