Diana Shipping director reports 209K-warrant exercise

Q: How many DSX warrants did ESX Investments exercise?

ESX Investments Inc. exercised 208,928 warrants on October 12, 2026, at an exercise price of $1.69527. The exercise resulted in issuance of 354,189 common shares held indirectly through ESX.

The resulting common-stock position held indirectly through ESX Investments by director Anastasios Margaronis was 1,398,831 shares.

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Rhea-AI Filing Summary

Diana Shipping Inc. (DSX) director Anastasios Margaronis reported an exercise by ESX Investments Inc. of 208,928 warrants on October 12, 2026, at an exercise price of $1.69527, resulting in the issuance of 354,189 common shares. The shares are held indirectly through ESX, whose voting and disposition Margaronis controls; the reported resulting common-stock position was 1,398,831 shares. The transactions were not reported as made under a Rule 10b5-1 plan.

Insider Trade Summary

208,928 shares exercised/converted

Exercise 2 txns

Insider Margaronis Anastasios

Role Director

Type	Security	Shares	Price	Value
Exercise	Warrants ^{F2, F1}	208,928	--	--
Exercise	Common Stock, $0.01 par value per share ^{F2, F1}	354,189	--	--

Holdings After Transaction: Warrants — 0 contracts (Indirect, See footnote); Common Stock, $0.01 par value per share — 1,398,831 shares (Indirect, See footnote)

Footnotes (2)

F1. 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.
F2. 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. On October 12, 2026, the Reporting Person exercised 208,928 Warrants at an exercise price of $1.69527 resulting in the issuance of 354,189 shares of Common Stock. The Reporting person no longer owns any warrants through ESX in the Warrant Distribution.

Key Figures

Warrants exercised: 208,928 warrants Exercise price: $1.69527 Common shares issued: 354,189 shares +2 more

5 metrics

Warrants exercised 208,928 warrants By ESX Investments Inc. on October 12, 2026

Exercise price $1.69527 Price per warrant exercised on October 12, 2026

Common shares issued 354,189 shares Result of the warrant exercise on October 12, 2026

Common shares following transaction 1,398,831 shares Held indirectly through ESX Investments Inc.

Warrants following transaction 0 warrants Warrants through ESX in the Warrant Distribution

Key Terms

Warrant Distribution, exercise price, issued and outstanding

3 terms

Warrant Distribution financial

"the "Warrant Distribution""

exercise price financial

"at an exercise price of $1.69527"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

issued and outstanding financial

"each issued and outstanding Common Share"

Issued and outstanding refers to two related counts of a company's stock: "issued" is the total number of shares the company has created and ever sold, while "outstanding" is the number of those shares currently held by outside investors (issued shares minus any the company holds in its treasury). Investors use outstanding shares to calculate ownership percentages, voting power, earnings per share and market capitalization — think of issued shares as all slices baked and outstanding as the slices actually on the table for people to eat.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many DSX warrants did ESX Investments exercise?

ESX Investments Inc. exercised 208,928 warrants on October 12, 2026, at an exercise price of $1.69527. The exercise resulted in issuance of 354,189 common shares held indirectly through ESX.

How many warrants did ESX Investments retain after the DSX exercise?

Anastasios Margaronis no longer owned any warrants through ESX in the Warrant Distribution, according to the disclosed transaction details.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/13/2026 - 04:20 PM EDT Accepted by SEC EDGAR 10/13/2026 - 04:20 PM EDT

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Margaronis Anastasios

(Last)

(First)

(Middle)

PENDELIS 16

PALAIO FALIRO

(Street)

ATHENS

175 64

(City)

(State)

(Zip)

GREECE

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/12/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $0.01 par value per share	10/12/2026		M		354,189⁽²⁾	A	⁽²⁾	1,398,831⁽¹⁾	I	See footnote⁽¹⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Warrants	⁽²⁾	10/12/2026		M			208,928	⁽²⁾	⁽²⁾	Common Stock	354,189⁽²⁾	⁽²⁾	0	I	See footnote⁽¹⁾

Explanation of Responses:

1. 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.

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. On October 12, 2026, the Reporting Person exercised 208,928 Warrants at an exercise price of $1.69527 resulting in the issuance of 354,189 shares of Common Stock. The Reporting person no longer owns any warrants through ESX in the Warrant Distribution.

	/s/ Anastasios Margaronis	10/13/2026
	** 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 4 (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 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR