4//SEC Filing
OVERSEAS SHIPHOLDING GROUP INC 4
Accession 0001140361-16-055624
CIK 0000075208operating
Filed
Feb 28, 7:00 PM ET
Accepted
Feb 29, 7:22 PM ET
Size
12.1 KB
Accession
0001140361-16-055624
Insider Transaction Report
Form 4
FLINTER HENRY P
VP & Head of US Flag SBU
Transactions
- Other
Class A Common Stock, par value $.01 per share
2015-12-17+1,326→ 14,595 total - Other
Performance Restricted Stock Units
2016-02-25+26,666.47→ 26,666.47 totalExercise: $0.00→ Class A Common Stock (29,333.12 underlying) - Other
Stock Option (Right to Buy)
2014-09-29+144,382→ 144,382 totalExercise: $3.20Exp: 2024-09-28→ Class A Common Stock (144,382 underlying)
Holdings
- 0
Class B Common Stock, par value $.01 per share
Footnotes (4)
- [F1]These 1,326 shares of Class A Common Stock were acquired as the result of the payment on December 17, 2015 of a stock dividend of one share of Class A Common Stock for every ten shares of Class A Common Stock. On the record date for the stock dividend the reporting person held 13,269 shares of Class A Common Stock (1,326 dividend shares of Class A Common Stock).
- [F2]The reporting person inadvertently previously reported that he owned 2,311 shares of Class B Common Stock.
- [F3]On February 25, 2016 the reporting person vested in these 26,666.47 performance restricted stock units which were previously granted pursuant to the Overseas Shipholding Group, Inc. ("OSG") Management Incentive Compensation Plan (the "Plan"). These performance restricted stock units represent vesting in respect of one-third of that grant which vests in three tranches in amounts determined at the end of 2015, 2016 and 2017. These performance restricted stock units do not have voting rights and may not be transferred or otherwise disposed of until they settle. Settlement of these units may be either in shares of Class A Common Stock or cash, as determined by the Compensation Committee of OSG's Board of Directors. Settlement of the units shall occur as soon as practicable following the Compensation Committee's certification of the achievement of the applicable performance measures and targets for 2017 and in any event no later than April 30, 2018.
- [F4]As previously reported, on September 29, 2014 OSG granted the reporting person pursuant to the Plan 126,582 options to purchase 126,582 shares of Class A Common Stock at an exercise price of $3.65 per share which became exercisable on the first, second and third anniversary of the date of grant. On December 17, 2015, OSG paid a stock dividend of one share of Class A Common Stock for every ten shares of Class A Common Stock owned. As a result of the stock dividend, the stock options are exercisable for 144,382 shares of Class A Common Stock at an exercise price of $3.20 per share. These adjustments were made so that the value of the options before the stock dividend would be the same after the stock dividend. The vesting schedule remains unchanged.
Documents
Issuer
OVERSEAS SHIPHOLDING GROUP INC
CIK 0000075208
Entity typeoperating
IncorporatedFL
Related Parties
1- filerCIK 0000075208
Filing Metadata
- Form type
- 4
- Filed
- Feb 28, 7:00 PM ET
- Accepted
- Feb 29, 7:22 PM ET
- Size
- 12.1 KB