Director Margaronis details indirect Diana Shipping (DSX) stock, warrant stakes
Rhea-AI Filing Summary
Diana Shipping director Anastasios Margaronis filed an amended initial ownership report detailing indirect stakes in common stock, preferred shares and warrants. Through Anamar Investments Inc., he indirectly holds 6,963,453 common shares, including 808,408 unvested awards under the 2014 Equity Incentive Plan, and warrants exercisable for 2,663,223 common shares received in a December 14, 2023 warrant dividend. He also reports indirect holdings through ESX Investments Inc., including 1,044,642 common shares and warrants exercisable for 351,306 common shares. Additional common shares, Series B Preferred Shares and warrants for 205,931 common shares are held by his spouse, with beneficial ownership of those securities expressly disclaimed except for any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
9 transactions reported
Mixed
9 txns
Insider
Margaronis Anastasios
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Warrants | -- | -- | -- |
| holding | Warrants | -- | -- | -- |
| holding | Warrants | -- | -- | -- |
| holding | Common Stock, $0.01 par value per share | -- | -- | -- |
| holding | Common Stock, $0.01 par value per share | -- | -- | -- |
| holding | Series B Preferred Shares | -- | -- | -- |
| holding | Series B Preferred Shares | -- | -- | -- |
| holding | Series B Preferred Shares | -- | -- | -- |
| holding | Common Stock, $0.01 par value per share | -- | -- | -- |
Holdings After Transaction:
Warrants — 3,220,460 shares (Indirect, See footnote);
Common Stock, $0.01 par value per share — 8,981,926 shares (Indirect, See footnote);
Series B Preferred Shares — 280,938 shares (Indirect, See footnote)
Footnotes (9)
- F1. The shares are held by the Reporting Person indirectly through Anamar Investments Inc. ("Anamar") as the result of his ability to control the vote and disposition of Anamar. This amount includes 808,408 shares awarded to the Reporting Person pursuant to the Issuer's 2014 Equity Incentive Plan (as amended and restated), which are currently unvested.
- F2. The shares are held by the Reporting Person indirectly through ESX Investments Inc. ("ESX") as the result of his ability to control the vote and disposition of ESX.
- F3. On December 14, 2023, the Issuer distributed a dividend to all shareholders as of the record date, December 6, 2023 (the "Warrant Distribution"). The Issuer distributed one-fifth of a warrant for each issued and outstanding Common Share. The Reporting person currently owns 1,583,866 warrants through Anamar in the Warrant Distribution which entitles him to 2,663,223 shares of common stock issuable upon the exercise of the warrants.
- F4. On December 14, 2023, the Issuer distributed a dividend to all shareholders as of the record date, December 6, 2023 (the "Warrant Distribution"). The Issuer distributed one-fifth of a warrant for each issued and outstanding Common Share. The Reporting person currently owns 208,928 warrants through ESX in the Warrant Distribution which entitles him to 351,306 shares of common stock issuable upon the exercise of the warrants.
- F5. The shares are held by Mrs. Maria Margaroni, the spouse of the Reporting Person, indirectly through Coronis Investments Inc. ("Coronis"), as a result of her ability to control the vote and disposition of Coronis. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
- F6. Each share of 8.875% Series B Cumulative Redeemable Perpetual Preferred Shares ("Series B Preferred Shares") is entitled to a liquidation preference in an amount initially equal to $25.00 per share in cash, plus an amount equal to accumulated and unpaid dividends thereon to the date fixed for payment of such amount (whether or not declared) upon the occurrence of liquidation, dissolution or winding up of the affairs of the Issuer, whether voluntary or involuntary, in accordance with the provisions set forth in the Issuer's Statement of Designation of the Series B Preferred Shares of the Issuer, filed as an exhibit to the Issuer's annual report on Form 20-F.
- F7. The shares are held by the Reporting Person indirectly through Anamar as the result of his ability to control the vote and disposition of Anamar.
- F8. Held by Mrs. Maria Margaroni, the spouse of the Reporting Person. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
- F9. 122,471 warrants held by Mrs. Maria Margaroni, the spouse of the Reporting Person, which entitles her to 205,931 shares of common stock issuable upon the exercise of the warrants. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
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FAQ
What does the Diana Shipping (DSX) Form 3/A filing show for Anastasios Margaronis?
The Form 3/A shows director Anastasios Margaronis updating his initial ownership report, detailing indirect holdings of common stock, Series B Preferred Shares, and warrants in Diana Shipping Inc. through controlled entities and his spouse.
How are ESX Investments Inc. holdings in Diana Shipping (DSX) described?
The filing states that shares are held indirectly through ESX Investments Inc., where Mr. Margaronis can control voting and disposition. ESX holds 1,044,642 common shares plus warrants that can be exercised for 351,306 additional common shares.
What Diana Shipping (DSX) securities are held by the spouse of Anastasios Margaronis?
The document notes that Mr. Margaronis’s spouse holds common stock, Series B Preferred Shares, and 122,471 warrants exercisable for 205,931 common shares. He disclaims beneficial ownership of these securities except for any pecuniary interest.