Ardmore Shipping (ASC) director reports initial share holdings

Rhea-AI Filing Summary

Ardmore Shipping Corp director Curtis B. McWilliams filed a Form 3 showing his existing equity stake in the company. He reports holding 80,673 shares of common stock directly, plus 14,781 restricted stock units (RSUs) that are scheduled to vest in full on June 17, 2026, if he continues serving the company.

The RSUs carry dividend equivalent rights, meaning additional shares may be issued based on dividends paid before vesting. Each RSU represents a right to receive one share of Ardmore Shipping common stock at no exercise price when vesting occurs. This filing reflects ownership, not new share purchases or sales.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider McWilliams Curtis B

Role Director

Type	Security	Shares	Price	Value
holding	Restricted Stock Units	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 14,781 shares (Direct); Common Stock — 80,673 shares (Direct)

Footnotes (1)

1. Restricted Stock Units ("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). These RSUs vest in full on the date shown, subject to the reporting person's continued service to the Issuer through the vesting date.

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SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
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1. Name and Address of Reporting Person^*

McWilliams Curtis B

(Last) (First) (Middle)

450 SOUTH ORANGE AVENUE

(Street)

ORLANDO FLORIDA 32801

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Ardmore Shipping Corp [ ASC ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	80,673	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units(1)	06/17/2026(2)	06/17/2026	Common Stock	14,781	$0.0000	D

Explanation of Responses:

1. Restricted Stock Units ("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).

2. These RSUs vest in full on the date shown, subject to the reporting person's continued service to the Issuer through the vesting date.

Remarks:

Exhibit 24: Power of Attorney provided herewith.

	/s/ Aideen O'Driscoll, Attorney-in-Fact	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does Ardmore Shipping (ASC) director Curtis McWilliams report in this Form 3?

He reports his existing stake in Ardmore Shipping, holding 80,673 shares of common stock and 14,781 restricted stock units. The filing establishes his ownership position as he becomes a reporting insider.

How many Ardmore Shipping (ASC) common shares does the director directly own?

The director directly owns 80,673 shares of Ardmore Shipping common stock. This reflects his current direct equity position and does not indicate any recent purchases or sales in the reported period.

What restricted stock units (RSUs) does the Ardmore Shipping director hold?

He holds 14,781 restricted stock units, each representing a right to receive one share of Ardmore Shipping common stock. These RSUs vest in full on June 17, 2026, subject to his continued service with the company.

When do Curtis McWilliams’ Ardmore Shipping RSUs vest and at what cost?

The RSUs are scheduled to vest in full on June 17, 2026, at an exercise price of $0.00 per share. Upon vesting, each RSU converts into one share of common stock, increasing his share ownership.

What are dividend equivalent rights (DERs) attached to Ardmore Shipping RSUs?

The RSUs include dividend equivalent rights that accrue value as dividends are declared. Upon vesting, DERs convert into additional Ardmore Shipping shares based on accrued dividends divided by the stock’s fair market value on the vesting or payment date.

Does this Ardmore Shipping Form 3 show any insider buying or selling activity?

No, the Form 3 only reports existing holdings of common stock and RSUs by the director. It does not disclose any recent open-market purchases, sales, or option exercises during the reported period.