4//SEC Filing
OVERSEAS SHIPHOLDING GROUP INC 4
Accession 0001140361-11-049251
CIK 0000075208operating
Filed
Oct 11, 8:00 PM ET
Accepted
Oct 12, 5:38 PM ET
Size
8.8 KB
Accession
0001140361-11-049251
Insider Transaction Report
Form 4
ARNTZEN MORTEN
DirectorPresident and CEO
Transactions
- Award
Stock Option (right to buy) (1)
2011-10-12+450,000→ 450,000 totalExercise: $22.50Exp: 2021-10-12→ Common Stock (450,000 underlying) - Award
Restricted Stock Units (2)(3)
2011-10-12+177,778→ 177,778 totalExercise: $0.00→ Common Stock (177,778 underlying)
Footnotes (3)
- [F1]On October 12, 2011, the Reporting Person was granted the option to purchase these shares under the Overseas Shipholding Group, Inc. 2004 Stock Incentive Plan, as amended (the "2004 Plan"). The option becomes exercisable on October 12, 2016 provided that the Reporting Person has been in the continuous employ of the Issuer or its affiliates through October 12, 2016.
- [F2]On October 12, 2011, the Reporting Person was awarded these restricted stock units ("RSUs") under the 2004 Plan. These RSUs are earned (but not vested) if, during any 30 consecutive trading day period from October 12, 2011 through October 12, 2016, the trailing average closing price of a share of common stock of the Issuer is $22.50 or more. The RSUs, if earned as provided in the preceding sentence, vest and become nonforfeitable on October 12, 2016 provided that the Reporting Person has been in the continuous employ of the Issuer or its affiliates through October 12, 2016.
- [F3]The RSUs (i) have no voting rights, (ii) may not be transferred or disposed of, (iii) if earned, upon vesting, will be converted into an equal number of shares of common stock of the Issuer, and (iv) bear the same cash dividend as is paid on the common stock of the Issuer from October 12, 2011, which dividend is held by the Issuer, unvested and without interest and paid to the Reporting Person only if and when the RSUs are earned and vest.
Documents
Issuer
OVERSEAS SHIPHOLDING GROUP INC
CIK 0000075208
Entity typeoperating
IncorporatedFL
Related Parties
1- filerCIK 0000075208
Filing Metadata
- Form type
- 4
- Filed
- Oct 11, 8:00 PM ET
- Accepted
- Oct 12, 5:38 PM ET
- Size
- 8.8 KB