Diana Shipping (NYSE: DSX) president updates indirect share and warrant holdings

Rhea-AI Filing Summary

DIANA SHIPPING INC. president Ioannis Zafirakis filed an amended Form 3 to detail his indirect holdings in the company through Abra Marinvest Inc. The filing reports warrants indirectly held through Abra that are currently exercisable for 1,681,470 shares of common stock.

It also shows indirect ownership of 3,253,408 common shares, including 1,823,780 unvested shares awarded under the company’s 2014 Equity Incentive Plan, and 84,458 Series B Preferred Shares. Each Series B preferred share carries a $25.00 initial liquidation preference plus accumulated and unpaid dividends.

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

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1. Name and Address of Reporting Person^*

Zafirakis Ioannis

(Last) (First) (Middle)

PENDELIS 16, PALAIO FALIRO

(Street)

ATHENS 17564

(City) (State) (Zip)

GREECE

(Country)

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

3. Issuer Name and Ticker or Trading Symbol
DIANA SHIPPING INC. [ DSX ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)
03/18/2026

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

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

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, $0.01 par value per share	3,253,408(1)	I	See footnote(1)
Series B Preferred Shares	84,458(4)	I	See footnote(3)

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
Warrants	(2)	(2)	Common Stock	1,681,470(2)	(2)	I	See footnote(2)

Explanation of Responses:

1. The shares are held by the Reporting Person indirectly through Abra Marinvest Inc. ("Abra") as the result of his ability to control the vote and disposition of Abra. This amount includes 1,823,780 shares awarded to the Reporting Person pursuant to the Issuer's 2014 Equity Incentive Plan (as amended and restated), which are currently unvested.

2. 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 1,000,000 warrants through Abra in the Warrant Distribution which entitles him to 1,681,470 shares of common stock issuable upon the exercise of the warrants.

3. The shares are held by the Reporting Person indirectly through Abra as the result of his ability to control the vote and disposition of Abra.

4. 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.

Remarks:

This Form 3 is being amended to include the Series B Preferred Shares the Reporting Person owns, which were inadvertently omitted from the original filing.

	/s/ Ioannis Zafirakis	03/24/2026
	** 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 the DIANA SHIPPING INC. (DSX) amended Form 3 report for Ioannis Zafirakis?

The amended Form 3 reports Ioannis Zafirakis’ indirect holdings in DIANA SHIPPING INC. through Abra Marinvest Inc., including common shares, Series B Preferred Shares, and warrants exercisable for common stock, clarifying his indirect voting and disposition control over these securities.

How many DIANA SHIPPING INC. (DSX) common shares does Ioannis Zafirakis indirectly hold?

Ioannis Zafirakis indirectly holds 3,253,408 common shares of DIANA SHIPPING INC. through Abra Marinvest Inc. This total includes 1,823,780 unvested shares awarded to him under the company’s 2014 Equity Incentive Plan, as noted in the footnotes.

What warrant position in DIANA SHIPPING INC. (DSX) is disclosed for Ioannis Zafirakis?

The filing discloses warrants indirectly held through Abra Marinvest Inc. that are exercisable for 1,681,470 DIANA SHIPPING INC. common shares. The footnotes explain these warrants arose from a prior warrant distribution to shareholders based on existing common share ownership.

How many Series B Preferred Shares of DIANA SHIPPING INC. (DSX) does Ioannis Zafirakis indirectly own?

Ioannis Zafirakis indirectly owns 84,458 Series B Preferred Shares of DIANA SHIPPING INC. through Abra Marinvest Inc. These preferred shares carry a $25.00 per share initial liquidation preference plus accumulated and unpaid dividends under the issuer’s Statement of Designation.

How are DIANA SHIPPING INC. (DSX) shares held by Ioannis Zafirakis structured?

The shares are held indirectly through Abra Marinvest Inc., which Ioannis Zafirakis controls for voting and disposition purposes. This structure applies to his common shares, Series B Preferred Shares, and warrants, consolidating his economic and voting exposure in a single holding entity.

What is notable about the unvested DIANA SHIPPING INC. (DSX) equity held for Ioannis Zafirakis?

Within his indirect common share position, 1,823,780 shares were awarded under DIANA SHIPPING INC.’s 2014 Equity Incentive Plan and remain unvested. These unvested awards represent a significant portion of his reported common share holdings through Abra Marinvest Inc.