Panagiotidi Ismini Evangelia 4
4 · Icon Energy Corp · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
Icon Energy (ICON) CEO Panagiotidi Receives 2,436 Series A Preferred Shares
What Happened
Panagiotidi Ismini Evangelia, CEO of Icon Energy Corp (ICON), is reported as having an acquisition (code J) on June 30, 2026: 2,436 Series A Cumulative Convertible Perpetual Preferred Shares were issued as a dividend-in-kind. The filing shows no per-share trade price (derivative issuance); the company disclosed the aggregate dividend amount tied to this issuance was $2,436,053. The securities were issued to Atlantis Holding Corp., a Marshall Islands company controlled by the reporting person.
Key Details
- Transaction date: June 30, 2026; Form 4 filed July 2, 2026.
- Instrument: Series A Cumulative Convertible Perpetual Preferred Shares (2,436 shares); price listed as N/A (payment-in-kind).
- Aggregate dividend amount disclosed: $2,436,053 (company elected to pay dividend in kind by issuing these shares).
- Shares were issued to Atlantis Holding Corp., which is controlled by the reporting person; she may be deemed to beneficially own them but disclaims ownership except for her pecuniary interest (footnote).
- Conversion feature: Series A preferred shares may be converted at the holder’s option until July 15, 2032, at a conversion price equal to the lesser of $1,200 and the five‑day VWAP prior to notice of conversion.
- Filing timeliness: Filed July 2, 2026 for a June 30, 2026 transaction (not marked late in the filing).
Context
This was not an open-market purchase by the CEO personally but a dividend-in-kind issued to a company she controls. Such payment-in-kind issuances increase preferred holdings (and potential future common share conversion exposure) but do not necessarily signal a market-direction trade like an outright personal purchase or sale.
Insider Transaction Report
- Other
Series A Cumulative Convertible Perpetual Preferred Shares
[F1][F2][F3][F4]2026-06-30+2,436→ 21,390 total(indirect: By Atlantis Holding Corp.)From: 2026-06-30→ Common Shares
Footnotes (4)
- [F1]Series A Cumulative Convertible Perpetual Preferred Shares may be converted at the holder's option until July 15, 2032, to the Company's common shares at a conversion price equal to the lesser of $1,200 and the volume weighted average price of the Company's common shares over the five consecutive trading day period expiring on the trading day immediately prior to the date of delivery of written notice of the conversion. The Series A Cumulative Convertible Perpetual Preferred Shares have no expiration date.
- [F2]On June 30, 2026, Atlantis Holding Corp. ("Atlantis") acquired 2,436 Series A Preferred Shares, as a result of the Company's election to pay in kind the dividend due on the Series A Cumulative Convertible Perpetual Preferred Shares.
- [F3]On June 30, 2026, the Company approved the distribution of dividends on the Series A Cumulative Convertible Perpetual Preferred Shares in an aggregate amount of $2,436,053 and elected to pay such dividend in kind, by issuing 2,436 Series A Cumulative Convertible Perpetual Preferred Shares.
- [F4]The reported securities are held by Atlantis, a company incorporated in the Marshall Islands and controlled by the Reporting Person. The Reporting Person may be deemed to beneficially own the securities owned directly by Atlantis. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of her pecuniary interest.