[144] Cencora, Inc. SEC Filing

Rhea-AI Filing Summary

Schedule 13D/A (Amendment 11) – OceanPal Inc. (OP) discloses that board member Eleftherios Papatrifon now beneficially owns 901,621 common shares (on an as-converted basis), equal to 10.59 % of the 7,611,212 outstanding. Ownership stems from 1,214 Series C and 915 Series D preferred shares, both convertible subject to a 49 % cap. The amendment is required because a change in the conversion prices of those preferred stocks reduced Papatrifon’s percentage holding; no open-market transactions are reported in the past 60 days.

The filing reiterates that the shares were acquired for investment purposes through equity awards, prior distributions from Diana Shipping, and a 2024 share-purchase agreement. As a director and Executive Committee member, Papatrifon may influence corporate strategy and continues to review further share purchases or sales. No new contracts, legal proceedings, or exhibits are included.

Insights

Securities Analyst

TL;DR: Insider’s stake drops to 10.6 % after conversion-price reset; signals mild dilution but maintains board influence.

The amendment confirms that Papatrifon remains a >10 % holder, preserving reporting obligations and potential influence on governance. The lower ownership percentage appears mechanical—driven by revised conversion terms, not share sales—so immediate market impact is limited. Still, investors should monitor further conversions of Series C/D preferred, which collectively represent roughly 12 % potential dilution if fully exercised. Because no new purchases or dispositions occurred, I rate the filing neutral for valuation but impactful for share-count awareness.

Corporate Governance Expert

TL;DR: Director’s 10 %+ stake sustains influence; reduced percentage may ease concentration-risk concerns.

Maintaining over 10 % ownership keeps Papatrifon’s alignment with shareholders while the modest decline in percentage mitigates single-holder dominance. The 49 % conversion cap limits control creep, but cumulative preferred conversions could still shift voting power. Governance watchers should track any coordination with other large holders, given the stated intention to discuss value-enhancing alternatives. Overall governance risk remains moderate; impact score neutral.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	14578	4266543.26	193823487	07/22/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	07/22/2025	Option Granted - 11/13/2019	Issuer			12578	07/22/2025	Cash
Common	09/30/2023	Restricted Stock Vesting	Issuer			2000	09/30/2023	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Steven Collis 1 West First Avenue Conshohocken NY 19428-1800	Common	04/22/2025	14579	4108507.99
Steven Collis 1 West First Avenue Conshohocken NY 19428-1800	Common	05/20/2025	14578	4283599.52
Steven Collis 1 West First Avenue Conshohocken NY 19428-1800	Common	06/24/2025	14579	4266106.98

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many OceanPal (OP) shares does Eleftherios Papatrifon now own?

He beneficially owns 901,621 common shares on an as-converted basis, equal to 10.59 % of shares outstanding.

Why was this Schedule 13D/A Amendment 11 filed?

To report a decrease in percentage ownership caused by a change in the conversion prices of Series C and Series D preferred stock.

Did the insider buy or sell OceanPal stock recently?

No; the filing states no transactions in the past 60 days. The change is conversion-price driven.

What dilution risk comes from the Series C and D preferred shares?

They convert into 901,621 common shares, about 12 % of current share count, but cannot push the holder above 49 % ownership.

Does Papatrifon still influence OceanPal’s strategy?

Yes. He remains a director and Executive Committee member with >10 % ownership, allowing significant influence.