Diana Shipping (NYSE: DSX) CEO details indirect stock and warrant holdings

Rhea-AI Filing Summary

Diana Shipping Inc. director and Chief Executive Officer Semiramis Paliou filed an initial statement of beneficial ownership. The Form 3 shows she indirectly holds common stock and warrants through 4 Sweet Dreams S.A. and Tuscany Shipping Corp., over which she can control voting and disposition.

The filing notes 3,585,820 indirectly held shares awarded under the company’s 2014 Equity Incentive Plan that remain unvested. It also describes warrants received as part of a December 14, 2023 warrant distribution dividend, which entitle her entities to additional common shares upon exercise.

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^*

Paliou Semiramis

(Last) (First) (Middle)

PENDELIS 16, PALAIO FALIRO

(Street)

ATHENS 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)

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

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

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	8,278,726(1)	I	See footnote(1)
Common Stock, $0.01 par value per share	13,599,448(2)	I	See footnote(2)

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	(3)	(3)	Common Stock	1,357,975(3)	(3)	I	See footnote(3)
Warrants	(4)	(4)	Common Stock	4,573,411(4)	(4)	I	See footnote(4)

Explanation of Responses:

1. The shares are held by the Reporting Person indirectly through 4 Sweet Dreams, S.A. ("4SD") as the result of her ability to control the vote and disposition of 4SD. This amount Includes 3,585,820 shares awarded to the Reporting Person pursuant to the Issuer's 2014 Equity Incentive Plan (as amended and restated), which are currently unvested.

2. The shares are held by the Reporting Person indirectly through Tuscany Shipping Corp. ("Tuscany") as the result of her ability to control the vote and disposition of Tuscany.

3. 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 807,612 warrants through 4SD in the Warrant Distribution which entitles her to 1,357,975 shares of common stock issuable upon the exercise of the warrants.

4. 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 2,719,889 warrants through Tuscany in the Warrant Distribution which entitles her to 4,573,411 shares of common stock issuable upon the exercise of the warrants.

	/s/ Semiramis Paliou	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.
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* Form 3: SEC 1473 (03-26)

FAQ

What does the Diana Shipping (DSX) Form 3 filing by CEO Semiramis Paliou show?

The Form 3 shows Semiramis Paliou’s initial beneficial ownership in Diana Shipping. It reports indirect holdings of common stock and warrants through controlled entities, plus a large unvested equity award under the 2014 Equity Incentive Plan, establishing her equity stake at the time of reporting.

How does Semiramis Paliou indirectly hold Diana Shipping (DSX) shares?

Semiramis Paliou holds shares indirectly through 4 Sweet Dreams S.A. and Tuscany Shipping Corp. She is reported to control the voting and disposition of these entities, so their Diana Shipping common stock and warrants are treated as part of her beneficial ownership in the Form 3.

How many unvested Diana Shipping (DSX) shares are awarded to the CEO?

The Form 3 states that 3,585,820 shares have been awarded to Semiramis Paliou under Diana Shipping’s 2014 Equity Incentive Plan. These shares are currently unvested and are held indirectly through 4 Sweet Dreams S.A., reflecting compensation-based equity that may vest over time under plan terms.

What warrant distribution is disclosed for Diana Shipping (DSX) in this Form 3?

The filing describes a December 14, 2023 warrant distribution dividend to shareholders of record on December 6, 2023. Shareholders received one-fifth of a warrant per common share, and Paliou’s controlled entities received warrants based on their existing holdings at that record date.

How many Diana Shipping (DSX) shares are linked to warrants held through 4 Sweet Dreams S.A.?

The Form 3 notes that 4 Sweet Dreams S.A. holds 807,612 warrants from the December 2023 distribution. These warrants entitle Semiramis Paliou, through 4 Sweet Dreams, to 1,357,975 shares of Diana Shipping common stock upon exercise, at the stated warrant terms.

How many Diana Shipping (DSX) shares are linked to warrants held through Tuscany Shipping Corp.?

The filing states that Tuscany Shipping Corp. holds 2,719,889 warrants from the warrant distribution. These warrants entitle Semiramis Paliou, through Tuscany, to 4,573,411 shares of Diana Shipping common stock upon exercise, adding to her potential indirect equity exposure via the derivative position.