Major Diana Shipping (NYSE: DSX) holder reports 21.5% ownership

Rhea-AI Filing Summary

Diana Shipping Inc. major shareholder Semiramis Paliou filed an amended Schedule 13D to update her beneficial ownership in the company. Through Tuscany Shipping Corp. and 4 Sweet Dreams S.A., she is deemed to beneficially own 27,809,560 common shares, or 21.5% of the outstanding stock.

As of March 12, 2026, Diana Shipping had 123,539,757 shares outstanding. Tuscany reports 18,172,859 shares (14%), and 4 Sweet Dreams reports 9,636,701 shares (7.5%), all with shared voting and dispositive power. The filing also notes prior receipt of 3,527,501 warrants in a December 2023 dividend and a grant of 2,960,746 shares to 4 Sweet Dreams on February 25, 2026 under the equity incentive plan.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 5)

DIANA SHIPPING INC.

(Name of Issuer)

Common Stock, $0.01 par value per share

(Title of Class of Securities)

Y2066G104

(CUSIP Number)

Ms. Maria Dede
Pendelis 16, Palaio Faliro
Athens, J3, 175 64
30-210-9470-100

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

02/25/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. Y2066G104

1

Name of reporting person

Semiramis Paliou

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

GREECE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 27,809,560.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 27,809,560.00

11

Aggregate amount beneficially owned by each reporting person

27,809,560.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

21.5 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP No. Y2066G104

1

Name of reporting person

Tuscany Shipping Corp.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

MARSHALL ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 18,172,859.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 18,172,859.00

11

Aggregate amount beneficially owned by each reporting person

18,172,859.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

14 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP No. Y2066G104

1

Name of reporting person

4 Sweet Dreams S.A.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

MARSHALL ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 9,636,701.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 9,636,701.00

11

Aggregate amount beneficially owned by each reporting person

9,636,701.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.5 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.01 par value per share
(b)	Name of Issuer: DIANA SHIPPING INC.
(c)	Address of Issuer's Principal Executive Offices: Pendelis 16, Palaio Faliro, Athens, GREECE , 175 64.
Item 1 Comment: This Amendment No. 5 to Schedule 13D (the "Schedule 13D") relates to shares of common stock, par value $0.01 per share (the "Shares"), of Diana Shipping Inc. (the "Issuer"). This Amendment No. 5 to the Schedule 13D is being filed to report a change in the Reporting Persons ownership percentage in the Issuer. Item 3 of the Schedule 13D is hereby amended and Item 5(a)-(e) of the Schedule 13D is hereby amended and restated as follows.
Item 3.	Source and Amount of Funds or Other Consideration
	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 persons received 3,527,501 warrants in the Warrant Distribution which entitles them to 5,931,386 shares of common stock issuable upon the exercise of the warrants. On February 25, 2026, 2,960,746 Shares were granted to 4 Sweet Dreams S.A. pursuant to the Issuer's Equity Incentive Plan. The Shares beneficially owned by the Reporting Persons also include Shares issued by way of Issuer Equity Incentive Plan grants and stock dividends issued to the Reporting Persons.
Item 5.	Interest in Securities of the Issuer
(a)	As of March 12, 2026, the Issuer had 123,539,757 Shares outstanding. The following persons report beneficial ownership of the following Shares.
(b)	Tuscany may be deemed to beneficially own 18,172,859 Shares, representing 14% of the Issuer's issued and outstanding Shares, which Paliou indirectly may be deemed to beneficially own, as the result of her ability to control the vote and disposition of such entity. 4 Sweet Dreams S.A. ("4 Sweet Dreams") may be deemed to beneficially own 9,636,701 Shares representing 7.5% of the Issuer's issued and outstanding Shares, which Paliou indirectly may be deemed to beneficially own, as the result of her ability to control the vote and disposition of such entity. Therefore, Paliou may be deemed to, indirectly, beneficially own 27,809,560 Shares, representing 21.5% of the Issuer's issued and outstanding shares. Tuscany has the sole power to vote or direct the vote of 0 shares and has the shared power to vote or direct the vote of 18,172,859 Shares. 4 Sweet Dreams has the sole power to vote or direct the vote of 0 Shares and has the shared power to vote or direct the vote of 9,636,701 Shares. Therefore, Paliou has the sole power to vote or direct the vote of 0 Shares and has the shared power to vote or direct the vote of 27,809,560 Shares.
(c)	Except as otherwise disclosed herein, no transactions in the Shares were effected by the Reporting Persons during the past 60 days.
(d)	No other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any of the Shares beneficially owned by the Reporting Persons.
(e)	Not applicable.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Semiramis Paliou

Signature:	/s/ Semiramis Paliou
Name/Title:	Semiramis Paliou
Date:	03/13/2026

Tuscany Shipping Corp.

Signature:	/s/ Semiramis Paliou
Name/Title:	Semiramis Paliou, Authorized Representative
Date:	03/13/2026

4 Sweet Dreams S.A.

Signature:	/s/ Semiramis Paliou
Name/Title:	Semiramis Paliou, Authorized Representative
Date:	03/13/2026

FAQ

What ownership stake does Semiramis Paliou report in Diana Shipping (DSX)?

Semiramis Paliou reports indirect beneficial ownership of 27,809,560 Diana Shipping shares, representing 21.5% of the company’s outstanding common stock. Her stake is held through Tuscany Shipping Corp. and 4 Sweet Dreams S.A., over which she can control voting and disposition.

How many Diana Shipping (DSX) shares does Tuscany Shipping Corp. beneficially own?

Tuscany Shipping Corp. reports beneficial ownership of 18,172,859 Diana Shipping common shares, equal to 14% of the outstanding stock. It has shared voting and dispositive power over these shares, and this position contributes to Semiramis Paliou’s aggregated beneficial ownership.

What is 4 Sweet Dreams S.A.’s reported stake in Diana Shipping (DSX)?

4 Sweet Dreams S.A. reports beneficial ownership of 9,636,701 Diana Shipping common shares, or 7.5% of the outstanding stock. It has shared voting and dispositive power over these shares, and this position is indirectly attributed to Semiramis Paliou’s total beneficial ownership.

How many Diana Shipping (DSX) shares were outstanding as of March 12, 2026?

As of March 12, 2026, Diana Shipping had 123,539,757 common shares outstanding. This figure is used in the filing to calculate the percentage ownership stakes reported by Tuscany Shipping Corp., 4 Sweet Dreams S.A., and Semiramis Paliou.

What warrants and equity grants to the reporting persons are disclosed for Diana Shipping (DSX)?

The reporting persons received 3,527,501 warrants in a December 14, 2023 distribution, entitling them to 5,931,386 shares upon exercise. On February 25, 2026, 2,960,746 shares were granted to 4 Sweet Dreams S.A. under Diana Shipping’s equity incentive plan.

Did the reporting persons trade Diana Shipping (DSX) shares in the last 60 days?

The filing states that, except as otherwise disclosed in the document, no transactions in Diana Shipping common shares were effected by the reporting persons during the past 60 days. This clarifies that recent ownership changes largely reflect distributions and equity grants.