Vafias Harry 4

What Happened
Harry Vafias, StealthGas Inc. CEO, President & CFO and a director, exercised 100,000 vested options on April 27, 2026 at an exercise price of $6.01 per share, paying $601,000. The Form 4 shows the derivative (the option) was disposed in connection with that conversion. On April 29, 2026 he reported a gift of 99,623 shares. The filing does not explain the 377-share difference between the exercised shares and the gifted shares.

Key Details

• Transactions:
  • 2026-04-27: Exercise/conversion of derivative (Code M) — 100,000 shares acquired at $6.01/share; total cost $601,000.
  • 2026-04-27: Derivative disposition (Code M) — 100,000 derivative units disposed (conversion of option).
  • 2026-04-29: Gift (Code G) — 99,623 shares acquired by gift (reported at $0.00).
• Shares owned after transaction: Not specified in the provided filing excerpt; see full Form 4 for total post-transaction holdings.
• Footnotes:
  • F1/F2: Some shares are held by Arethusa Properties LTD and Flawless Management Inc.; Vafias controls those entities and disclaims direct beneficial ownership except to the extent of any pecuniary interest.
  • F3: 100% of the options were vested and exercisable.
• Filing timeliness: Report filed 2026-04-29 for transactions on 2026-04-27 — appears to be filed within the typical Section 16 reporting window.

Context
This was a cash exercise of vested options (the option was converted into shares). The subsequent gift of nearly all exercised shares is a transfer and does not necessarily signal a buy/sell market view. The small mismatch (377 shares) between exercised and gifted shares is not explained in the excerpt (may reflect retention, withholding, or other administrative adjustments — not specified). As always, gifts are not the same as market sales and should be interpreted differently than open-market purchases or sales.