Diana Shipping (NYSE: DSX) president details indirect stock and warrants

Rhea-AI Filing Summary

Diana Shipping Inc. president Ioannis Zafirakis has filed an initial Form 3 reporting his indirect equity interests in the company. He indirectly holds 3,253,408 shares of common stock through Abra Marinvest Inc., including 1,823,780 unvested shares awarded under the 2014 Equity Incentive Plan.

He also indirectly owns 1,000,000 warrants through Abra from a prior warrant distribution, which are exercisable for 1,681,470 shares of common stock at an exercise price of $0.00 per share. The filing reflects existing holdings rather than new market purchases or sales.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Zafirakis Ioannis

Role President

Type	Security	Shares	Price	Value
holding	Warrants	--	--	--
holding	Common Stock, $0.01 par value per share	--	--	--

Holdings After Transaction: Warrants — 1,681,470 shares (Indirect, See footnote); Common Stock, $0.01 par value per share — 3,253,408 shares (Indirect, See footnote)

Footnotes (1)

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. 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.

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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

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1. Name and Address of Reporting Person^*

Zafirakis Ioannis

(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)
	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)

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.

	/s/ Ioannis Zafirakis	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 Diana Shipping (DSX) president Ioannis Zafirakis report on this Form 3?

He reports his existing indirect ownership in Diana Shipping Inc. The filing shows 3,253,408 common shares held indirectly through Abra Marinvest Inc., plus 1,000,000 warrants exercisable for 1,681,470 common shares, providing a baseline view of his current equity interests.

How many Diana Shipping (DSX) common shares does Ioannis Zafirakis indirectly hold?

He indirectly holds 3,253,408 common shares of Diana Shipping Inc. These shares are held through Abra Marinvest Inc. and include 1,823,780 unvested shares awarded under the company’s 2014 Equity Incentive Plan, indicating both vested and unvested equity exposure.

What warrants linked to Diana Shipping (DSX) stock does Ioannis Zafirakis report?

He reports 1,000,000 warrants held indirectly through Abra Marinvest Inc. These warrants were received in a warrant distribution and are exercisable for 1,681,470 shares of common stock at an exercise price of $0.00 per share, expanding his potential future share ownership.

Are the Diana Shipping (DSX) shares on this Form 3 held directly by Ioannis Zafirakis?

No, the reported holdings are indirect through Abra Marinvest Inc. The filing explains he controls Abra’s voting and disposition decisions, so the common shares and warrants are attributed to him as indirect beneficial ownership rather than direct personal holdings.

Does this Diana Shipping (DSX) Form 3 show new insider buying or selling?

No, the Form 3 reflects existing holdings, not new transactions. It lists indirect common stock and warrant positions held through Abra Marinvest Inc., establishing Ioannis Zafirakis’s baseline ownership without indicating any recent purchases, sales, or option exercises.