Gibbon Virgilio Deloy Capobianco 4

What Happened

• Gibbon Virgilio Deloy Capobianco (CEO) reported conversion/exercise of restricted stock units (RSUs) into common shares on May 7, 2026. A total of 59,000 shares were reported as acquired through conversion.
• To satisfy tax withholding obligations, 16,225 of the newly issued shares were disposed (withheld/sold) at $14.41 per share, producing proceeds of $233,802.
• Several additional conversion entries (9,000; 18,000; 32,000 shares) are reported at $0 and reflect the conversion/vesting of RSUs rather than open-market sales.

Key Details

• Transaction date: May 7, 2026; Form 4 filed May 11, 2026 (filed within the typical two-business-day window).
• Sale for tax withholding: 16,225 shares at $14.41 = $233,802 (code F — payment of exercise price or tax liability).
• Conversions/exercises: 59,000 shares reported acquired (code M); separate conversion entries of 9,000, 18,000 and 32,000 shares reported at $0 (code M) reflecting RSU conversions.
• Footnotes: RSUs convert one-for-one into common shares (F1). Some RSUs fully vested on May 5, 2026 (F4); another RSU grant vested 9,000 shares on May 5, 2026 with remaining tranches scheduled to vest in May 2027–2029 subject to continued service (F3). GIBBOAT OVERSEAS LTD is controlled by the reporting person (F2).
• Shares owned after the transactions: not disclosed in the excerpt of the filing provided.

Context

• This was primarily a conversion/vesting event (RSUs becoming common shares). The 16,225-share disposition was a tax withholding routine (code F), not necessarily a market-directed sale; such withholdings are common when equity awards vest.
• The multiple M-code entries at $0 reflect the mechanics of converting RSUs into shares rather than sales.