Diana Shipping CEO exercises warrants into stock
DSX’s CEO, a more-than-10% owner, exercised all remaining dividend-distributed warrants via two controlled entities, receiving nearly 6 million common shares.
Rhea-AI Filing Summary
DIANA SHIPPING INC. (DSX) reported that Chief Executive Officer and director Semiramis Paliou, a more-than-10% owner, indirectly exercised warrants into common shares on September 11, 2026. Through 4 Sweet Dreams, S.A., she exercised 807,612 warrants at an exercise price of $1.69527, receiving 1,369,120 common shares, and through Tuscany Shipping Corp. she exercised 2,719,889 warrants at the same exercise price, receiving 4,610,946 common shares. The warrants were originally distributed as a dividend in December 2023, and following these warrant exercises, the reporting person no longer holds warrants from that distribution through either 4 Sweet Dreams, S.A. or Tuscany Shipping Corp.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,527,501 shares exercised/converted
Exercise
4 txns
Insider
Paliou Semiramis
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Warrants F3 | 807,612 | -- | -- |
| Exercise | Warrants F4 | 2,719,889 | -- | -- |
| Exercise | Common Stock, $0.01 par value per share F3, F1 | 1,369,120 | -- | -- |
| Exercise | Common Stock, $0.01 par value per share F4, F2 | 4,610,946 | -- | -- |
Holdings After Transaction:
Warrants — 0 contracts (Indirect, See footnote);
Common Stock, $0.01 par value per share — 18,210,394 shares (Indirect, See footnote)
Footnotes (4)
- F1. 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.
- F2. 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.
- 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. On September 11, 2026, the Reporting Person, through 4SD, exercised 807,612 Warrants at an exercise price of $1.69527, resulting in the issuance of 1,369,120 shares of Common Stock. The Reporting person no longer owns any warrants through 4SD issued to it through the Warrant Distribution.
- 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. On September 11, 2026, the Reporting Person, through Tuscany, exercised 2,719,889 Warrants at an exercise price of $1.69527, resulting in the issuance of 4,610,946 shares of Common Stock. The Reporting person no longer owns any warrants through Tuscany issued to it through the Warrant Distribution.
Key Figures
Warrants exercised via 4 Sweet Dreams, S.A.: 807,612 warrants
Common shares issued via 4 Sweet Dreams, S.A.: 1,369,120 shares
Warrants exercised via Tuscany Shipping Corp.: 2,719,889 warrants
+3 more
6 metrics
Warrants exercised via 4 Sweet Dreams, S.A.
807,612 warrants
Exercised on September 11, 2026 by entity controlled by the CEO
Common shares issued via 4 Sweet Dreams, S.A.
1,369,120 shares
Shares of DSX common stock issued upon warrant exercise on September 11, 2026
Warrants exercised via Tuscany Shipping Corp.
2,719,889 warrants
Exercised on September 11, 2026 by entity controlled by the CEO
Common shares issued via Tuscany Shipping Corp.
4,610,946 shares
Shares of DSX common stock issued upon warrant exercise on September 11, 2026
Warrant exercise price
$1.69527 per share
Exercise price for warrants from the December 2023 Warrant Distribution
Unvested equity awards included in indirect holdings
3,585,820 shares
Unvested shares awarded under the 2014 Equity Incentive Plan, included in amount held via 4 Sweet Dreams, S.A.
Key Terms
Warrants, Exercise or conversion of derivative security, Warrant Distribution, Equity Incentive Plan, +1 more
5 terms
Warrants financial
"The Issuer distributed one-fifth of a warrant for each issued and outstanding"
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
Exercise or conversion of derivative security financial
"transaction code M described as Exercise or conversion of derivative security"
Warrant Distribution financial
"On December 14, 2023, the Issuer distributed a dividend ... (the "Warrant Distribution")"
Equity Incentive Plan financial
"shares awarded to the Reporting Person pursuant to the Issuer's 2014 Equity Incentive Plan"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
indirectly through financial
"The shares are held by the Reporting Person indirectly through 4 Sweet Dreams, S.A."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did DSX’s CEO report on this Form 4?
The CEO, Semiramis Paliou, reported indirect exercises of warrants on September 11, 2026, converting them into 1,369,120 and 4,610,946 shares of common stock through entities she controls, 4 Sweet Dreams, S.A. and Tuscany Shipping Corp.
What was the exercise price for the DSX warrants exercised by the CEO’s entities?
Both sets of warrants were exercised at an exercise price of $1.69527 per share, resulting in the issuance of 1,369,120 and 4,610,946 DSX common shares to entities controlled by the CEO.
How did DSX originally issue the warrants that were exercised on September 11, 2026?
The warrants came from a Warrant Distribution on December 14, 2023, when DSX distributed one-fifth of a warrant for each issued and outstanding common share to shareholders of record as of December 6, 2023.
Does the DSX Form 4 indicate any remaining warrants from the 2023 Warrant Distribution?
No. The filing states that, after the September 11, 2026 exercises, the reporting person no longer owns any warrants from the 2023 Warrant Distribution through 4 Sweet Dreams, S.A. or Tuscany Shipping Corp.
Were the DSX insider warrant exercises made under a Rule 10b5-1 trading plan?
The filing’s Rule 10b5-1 checkbox is not affirmatively marked, and the footnotes do not state that the warrant exercises were made pursuant to a Rule 10b5-1 or pre-arranged trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
