Diana Shipping director exercises 331K warrants

Symeon Palios currently owns 376,216 warrants through Limon, entitling him to 637,787 common shares upon exercise.

Rhea-AI Filing Summary

Diana Shipping Inc. (DSX) reported that 331,223 warrants held indirectly by director Symeon Palios through Limon Compania Financiera S.A. were exercised on October 13, 2026, at an exercise price of $4.00 per warrant. The exercise resulted in issuance of 561,511 common shares, using an exercise ratio of 1.69527 common shares per warrant, including the applicable Bonus Share Fraction.

Insider Trade Summary

331,223 shares exercised/converted

Exercise 4 txns

Insider Palios Symeon

Role Director

Type	Security	Shares	Price	Value
Exercise	Warrants F2, F1	293,349	--	--
Exercise	Warrants F2, F1	37,874	--	--
Exercise	Common Stock, $0.01 par value per share F2, F1	497,305	--	--
Exercise	Common Stock, $0.01 par value per share F2, F1	64,206	--	--

Holdings After Transaction: Warrants — 376,216 contracts (Indirect, See footnote); Common Stock, $0.01 par value per share — 6,525,348 shares (Indirect, See footnote)

Footnotes (2)

1. F1. The shares are held by the Reporting Person indirectly through Limon Compania Financiera S.A. ("Limon") as the result of his ability to control the vote and disposition of Limon. This amount Includes 2,051,912 shares awarded to the Reporting Person pursuant to the Issuer's 2014 Equity Incentive Plan (as amended and restated), which are currently unvested.
2. 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 13, 2026, the Reporting Person exercised 331,223 Warrants at an exercise price of $4.00 per Warrant, resulting in the issuance of 561,511 shares of Common Stock, based on an exercise ratio of 1.69527 Common Shares per Warrant, including the applicable Bonus Share Fraction. The Reporting person currently owns 376,216 warrants through Limon in the Warrant Distribution which entitles him to 637,787 shares of common stock issuable upon the exercise of the warrants.

Key Figures

Warrants exercised: 331,223 warrants Exercise price: $4.00 per warrant Common shares issued: 561,511 shares +3 more

6 metrics

Warrants exercised 331,223 warrants Exercised on October 13, 2026

Exercise price $4.00 per warrant For the October 13, 2026 exercise

Common shares issued 561,511 shares Result of the October 13, 2026 warrant exercise

Exercise ratio 1.69527 common shares per warrant Includes the applicable Bonus Share Fraction

Warrants held through Limon 376,216 warrants Currently held by Symeon Palios through Limon

Shares issuable upon exercise 637,787 common shares Shares to which the 376,216 warrants held through Limon entitle Symeon Palios

Key Terms

Warrant Distribution, exercise ratio, Bonus Share Fraction, 2014 Equity Incentive Plan

4 terms

Warrant Distribution financial

"one-fifth of a warrant for each issued and outstanding Common Share (the "Warrant Distribution")"

exercise ratio financial

"based on an exercise ratio of 1.69527 Common Shares per Warrant"

Bonus Share Fraction financial

"including the applicable Bonus Share Fraction"

2014 Equity Incentive Plan financial

"awarded to the Reporting Person pursuant to the Issuer's 2014 Equity Incentive Plan"

FAQ

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

How many DSX warrants did director Symeon Palios exercise?

Warrants held indirectly through Limon by director Symeon Palios totaled 331,223 exercised on October 13, 2026, at $4.00 per warrant. The exercise resulted in 561,511 common shares at 1.69527 common shares per warrant, including the applicable Bonus Share Fraction; no Rule 10b5-1 plan is reported.

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

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Available on EDGAR 10/15/2026 - 05:09 PM EDT Accepted by SEC EDGAR 10/15/2026 - 05:08 PM EDT Learn about SEC filing dates

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^*

Palios Symeon

(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)
10/13/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $0.01 par value per share	10/13/2026		M		497,305(2)	A	(2)	6,461,142(1)	I	See footnote(1)
Common Stock, $0.01 par value per share	10/13/2026		M		64,206(2)	A	(2)	6,525,348(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrants	(2)	10/13/2026		M			293,349	(2)	(2)	Common Stock	497,305(2)	(2)	414,090	I	See footnote(1)
Warrants	(2)	10/13/2026		M			37,874	(2)	(2)	Common Stock	64,206(2)	(2)	376,216	I	See footnote(1)

Explanation of Responses:

1. The shares are held by the Reporting Person indirectly through Limon Compania Financiera S.A. ("Limon") as the result of his ability to control the vote and disposition of Limon. This amount Includes 2,051,912 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. On October 13, 2026, the Reporting Person exercised 331,223 Warrants at an exercise price of $4.00 per Warrant, resulting in the issuance of 561,511 shares of Common Stock, based on an exercise ratio of 1.69527 Common Shares per Warrant, including the applicable Bonus Share Fraction. The Reporting person currently owns 376,216 warrants through Limon in the Warrant Distribution which entitles him to 637,787 shares of common stock issuable upon the exercise of the warrants.

	/s/ Symeon Palios	10/15/2026
	** 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)