Tikka Kirsi 4
4 · Ardmore Shipping Corp · Filed Jul 7, 2026
Research Summary
AI-generated summary of this filing
Ardmore Shipping (ASC) Director Tikka Kirsi Exercises and Sells Shares
What Happened
Tikka Kirsi, a director of Ardmore Shipping Corp (ASC), had restricted stock units (RSUs) vest and reported related derivative conversions. The Form 4 shows a grant/award of 4,841 RSUs on 2026-06-15 (acquired at $0.00). On 2026-06-17 Kirsi recorded an exercise/conversion of derivatives for 8,474 shares (acquired at $0.00) and a same-day disposition of the same 8,474 shares (disposed at $0.00). All entries list a $0.00 per-share price on the filing; total cash amounts are shown as $0 on the Form 4.
Key Details
- Transaction dates: 2026-06-15 (RSU award/vesting) and 2026-06-17 (exercise/conversion and disposition).
- Report filed: 2026-07-07 (filed ~20+ days after the transactions; appears later than the typical 2-business-day Form 4 deadline).
- Transaction codes: A = award/grant (4,841 RSUs); M = exercise/conversion (8,474 shares acquired and 8,474 shares disposed).
- Prices/values reported: $0.00 per share for all transactions (Form 4 shows $0 total).
- Footnotes: F1–F3 explain these are RSUs with dividend-equivalent rights (DERs); F2 says the RSUs vested in full on the date shown; F3 notes 319 shares were payable under DERs that became calculable on vesting.
- Shares owned after the transactions: not specified in the provided filing excerpt.
Context
RSUs are a compensation award that convert to common shares on vesting; associated DERs can increase the number of shares payable (per the footnotes). The filing shows an exercise/conversion and a same-day disposal of the exercised shares — a pattern commonly seen when shares are converted and immediately sold or net-settled, but the filing does not state the reason. Awards and vesting are routine director compensation and do not, by themselves, indicate a personal bullish or bearish view.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-06-17+8,474→ 43,945 total - Award
Restricted Stock Units Award
[F1][F2]2026-06-15+4,841→ 4,841 totalExercise: $0.00From: 2027-06-15Exp: 2027-06-15→ Common Stock (4,841 underlying) - Exercise/Conversion
Restricted Stock Units Award
[F1][F3][F2]2026-06-17−8,474→ 0 totalExercise: $0.00From: 2026-06-17Exp: 2026-06-17→ Common Stock (8,474 underlying)
Footnotes (3)
- [F1]Restricted Stock Units Award ("RSUs") represent a contingent right to receive one share of the Issuer's common stock per RSU. RSUs have associated dividend equivalent rights ("DERs") that vest and become payable in shares of the Issuer's common stock proportionately with the RSUs to which they relate. Upon vesting of RSUs, the number of shares issuable under the associated DERs becomes calculable, based on the quotient of the accrued dividends with respect to the vested RSUs, divided by the common stock's fair market value on such vesting date (or in the event dividends are declared, but not yet paid to stockholders as of a vesting date, on the date of payment to stockholders).
- [F2]These RSUs vest in full on the date shown, subject to the reporting person's continued service to the Issuer through the vesting date.
- [F3]Includes 319 shares payable under associated dividend equivalent rights that became calculable upon vesting of the RSUs.