OceanPal (SVRN) Director Nikolaos Veraros Cancels 397 Series C Preferred Shares

What Happened
Nikolaos Veraros, a director of OceanPal Inc. (SVRN), disposed of 397 Series C Preferred Shares on July 31, 2026 by transferring them to the issuer for cancellation. The Form 4 reports the disposition as a derivative transaction (to the issuer); no per‑share price or total value is provided (N/A). Following the cancellation, Veraros no longer beneficially owns any securities of the company.

Key Details

• Transaction date: July 31, 2026. Form 4 filed August 4, 2026 (filing covers the July 31 transaction).
• Transaction type: Disposition to issuer (derivative) — 397 Series C Preferred Shares; price reported as N/A.
• Shares owned after transaction: 0 (reporting person no longer beneficially owns any securities).
• Footnote: The Reporting Person transferred all of his Series C Preferred Shares to the Issuer for cancellation.
• No indication in the filing of a 10b5-1 plan, tax withholding, or cashless exercise.

Context
This was not a market sale or purchase but a surrender/ cancellation of preferred shares back to OceanPal. Such corporate cancellations can reflect capitalization changes or contractually required redemptions; the filing itself does not explain the company’s or insider’s motivation. For investors, purchases typically carry stronger signals than cancellations; this entry simply documents that the director no longer holds any reported securities.