OceanPal (SVRN) Director Papatrifon Eleftherios Cancels Preferred Shares

What Happened
Papatrifon Eleftherios, a director of OceanPal Inc. (SVRN), disposed of 2,084 derivative Series C preferred shares by transferring them to the issuer for cancellation on July 31, 2026. The reported disposition is recorded as a "D" (disposition to issuer); no per‑share price is reported (N/A) because this was a cancellation rather than an open‑market sale or cash transaction. After the cancellation, Eleftherios beneficially owns 23,529 shares of OceanPal common stock.

Key Details

• Transaction date: July 31, 2026
• Transaction type: Disposition to issuer (cancellation) of Series C preferred shares (derivative) — 2,084 shares; price: N/A
• Shares owned after transaction: 23,529 common shares (beneficial ownership)
• Footnote: Reporting person transferred all of his Series C Preferred Shares to the issuer for cancellation on 7/31/2026.
• Filing timeliness: Form 4 filed 2026-08-04; filing date is within the required SEC reporting window (timely).

Context
This was not an open‑market sale but a transfer of preferred shares back to the company for cancellation. Such corporate cancellations can be driven by contractual, corporate-structure, or capitalization reasons and do not directly indicate a routine insider sell or buy in the public markets. For retail investors, purchases and open-market buys tend to be more direct signals of insider conviction; cancellations or corporate restructurings should be interpreted in their legal/corporate context rather than as market sentiment alone.