BERGLUND MATS 4

What Happened

• Mats Berglund, a director of Ardmore Shipping Corp (ASC), was granted 5,125 RSUs on 2026-06-15 (award). On 2026-06-17 he converted/exercised derivative awards, acquiring 8,474 shares and immediately disposing of 8,474 shares the same day. All transactions are reported at $0.00 per share in the Form 4 because they involve awards/derivative conversions rather than an open-market cash purchase.

Key Details

• Transaction dates and types:
  • 2026-06-15 — Grant/award: 5,125 RSUs (code A) @ $0.00 (acquired; derivative).
  • 2026-06-17 — Exercise/conversion: 8,474 shares (code M) @ $0.00 (acquired; derivative).
  • 2026-06-17 — Exercise/conversion: 8,474 shares (code M) @ $0.00 (disposed; derivative).
• Filing: Report filed 2026-07-09 for transactions around 2026-06-15/06-17 (appears late vs. the usual two-business-day Form 4 filing requirement).
• Shares owned after the transactions are not specified in the provided data.
• Notable footnotes:
  • F1: Filing includes 9,991 shares that were inadvertently omitted from the reporting person's Form 3 (filed 3/18/2026).
  • F2–F4: RSUs represent rights to receive one share per RSU and include dividend equivalent rights (DERs); footnote F4 notes 319 shares payable under DERs became calculable upon vesting. F3 states the RSUs vest in full on the date shown, subject to continued service.

Context

• These were derivative/award transactions (RSUs and associated DERs) and a same-day disposition of an equal number of converted shares. That pattern can reflect settlement/sale actions (for example, sell-to-cover or other transfers), but the Form 4 does not state the reason for the disposition.
• Awards and exercises reported at $0 often reflect issuance/conversion rather than a cash purchase; retail investors should treat grants/exercises differently than open-market purchases when interpreting insider sentiment.