Diana Shipping director's exercise issues 1.7M shares

Rhea-AI Filing Summary

Diana Shipping Inc. director Margaronis Anastasios reported an exercise involving 1,000,000 warrants held indirectly through Anamar Investments Inc. on September 21, 2026, at an exercise price of $1.69527 per warrant; the exercise resulted in issuance of 1,695,269 common shares. Reported common-stock holdings through Anamar were 8,658,722 shares afterward. Anamar held 703,866 remaining warrants, exercisable for 1,193,242 common shares.

Insider Trade Summary

1,000,000 shares exercised/converted

Exercise 2 txns

Insider Margaronis Anastasios

Role Director

Type	Security	Shares	Price	Value
Exercise	Warrants F2, F1	1,000,000	--	--
Exercise	Common Stock, $0.01 par value per share F2, F1	1,695,269	--	--

Holdings After Transaction: Warrants — 703,866 contracts (Indirect, See footnote); Common Stock, $0.01 par value per share — 8,658,722 shares (Indirect, See footnote)

Footnotes (2)

1. F1. The shares are held by the Reporting Person indirectly through Anamar Investments Inc. ("Anamar") as the result of his ability to control the vote and disposition of Anamar. This amount includes 808,408 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 September 21, 2026, the Reporting Person exercised 1,000,000 Warrants at an exercise price of $1.69527 resulting in the issuance of 1,695,269 shares of Common Stock. The Reporting person currently owns 703,866 warrants through Anamar in the Warrant Distribution which entitles him to 1,193,242 shares of common stock issuable upon the exercise of the warrants.

Key Figures

Warrants exercised: 1,000,000 warrants Exercise price: $1.69527 per warrant Common shares issued: 1,695,269 shares +4 more

7 metrics

Warrants exercised 1,000,000 warrants September 21, 2026; held indirectly through Anamar Investments Inc.

Exercise price $1.69527 per warrant Warrants exercised on September 21, 2026

Common shares issued 1,695,269 shares Result of the warrant exercise

Common shares following transaction 8,658,722 shares Held indirectly through Anamar Investments Inc.

Warrants held after exercise 703,866 warrants Held through Anamar Investments Inc.

Shares issuable upon exercise of remaining warrants 1,193,242 common shares Shares issuable under warrants held through Anamar Investments Inc.

Unvested awarded shares 808,408 shares Included in reported common-stock holdings; awarded under the 2014 Equity Incentive Plan

Key Terms

Warrant Distribution, exercise price, unvested, 2014 Equity Incentive Plan

4 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.

unvested financial

"which are currently unvested"

2014 Equity Incentive Plan financial

"pursuant to the Issuer's 2014 Equity Incentive Plan"

FAQ

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

How many warrants did a DSX director exercise, and how many shares were issued?

The reported exercise covered 1,000,000 warrants held indirectly through Anamar Investments Inc. on September 21, 2026, at $1.69527 per warrant, resulting in issuance of 1,695,269 common shares. Director Margaronis Anastasios reported the exercise.

What were the post-exercise DSX common-stock holdings?

The reported common-stock position following the transaction was 8,658,722 shares held indirectly through Anamar Investments Inc. This amount includes 808,408 shares awarded under Diana Shipping Inc.'s 2014 Equity Incentive Plan that were unvested.

How many DSX warrants remained after the exercise?

Anamar Investments Inc. held 703,866 warrants after the exercise, entitling the holder to 1,193,242 common shares upon exercise.

Was the DSX warrant exercise reported under a Rule 10b5-1 plan?

No Rule 10b5-1 plan is reported for the transaction.

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

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Available on EDGAR 09/24/2026 - 04:57 PM Accepted by SEC EDGAR 09/24/2026 - 04:56 PM 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^*

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)
09/21/2026

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	09/21/2026		M		1,695,269(2)	A	(2)	8,658,722(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)	09/21/2026		M			1,000,000	(2)	(2)	Common Stock	1,695,269(2)	(2)	703,866	I	See footnote(1)

Explanation of Responses:

1. The shares are held by the Reporting Person indirectly through Anamar Investments Inc. ("Anamar") as the result of his ability to control the vote and disposition of Anamar. This amount includes 808,408 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 September 21, 2026, the Reporting Person exercised 1,000,000 Warrants at an exercise price of $1.69527 resulting in the issuance of 1,695,269 shares of Common Stock. The Reporting person currently owns 703,866 warrants through Anamar in the Warrant Distribution which entitles him to 1,193,242 shares of common stock issuable upon the exercise of the warrants.

	/s/ Anastasios Margaronis	09/24/2026
	** 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)