StealthGas (GASS) CEO Vafias exercises options, gifts nearly 100K shares

Rhea-AI Filing Summary

StealthGas Inc. CEO, President & CFO Harry Vafias reported an option exercise and a share gift involving the company’s common stock. On April 27, 2026, he exercised stock options to acquire 100,000 shares of common stock at $6.01 per share. The corresponding option for 100,000 shares was fully exercised, leaving no remaining balance under that grant.

On April 29, 2026, Vafias made a bona fide gift of 99,623 shares of common stock, with no sale proceeds reported, and directly held 4,480,863 shares afterward. The filing also shows indirect holdings of 7,105,453 shares held by Flawless Management Inc. and 586,020 shares held by Arethusa Properties LTD as of April 27, 2026. These shares are owned by those entities, and Vafias disclaims beneficial ownership except for any pecuniary interest.

Insights

Equity compensation and insider-transactions analyst

Routine option exercise and charitable-style gifting with substantial holdings retained.

The filing shows Harry Vafias exercising stock options to acquire 100,000 StealthGas common shares at an exercise price of $6.01 on April 27, 2026. This converts a derivative award into regular shares, a standard equity-compensation event rather than an open-market purchase.

Two days later, he made a bona fide gift of 99,623 shares, a non-market disposition with no reported sale proceeds. Following these transactions, he directly holds 4,480,863 shares, while entities he controls hold 7,105,453 and 586,020 shares, with beneficial ownership disclaimed except for any pecuniary interest. Overall, the activity appears routine and does not materially change his visible equity exposure.

Insider Trade Summary

100,000 shares exercised/converted

Mixed 5 txns

Insider Vafias Harry

Role CEO, President & CFO

Type	Security	Shares	Price	Value
Gift	Common Stock	99,623	$0.00	--
Exercise	Stock Option (Right to Buy)	100,000	$0.00	--
Exercise	Common Stock	100,000	$6.01	$601K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 4,480,863 shares (Direct, null); Stock Option (Right to Buy) — 0 shares (Direct, null); Common Stock — 586,020 shares (Indirect, By Arethusa Properties LTD)

Footnotes (1)

1. Shares held by Arethusa Properties LTD ("Arethusa"). The Reporting Person controls Arethusa and may be deemed to beneficially own the securities held by Arethusa by virtue of such control. The Reporting Person disclaims beneficial ownership of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose. Shares held by Flawless Management Inc. ("Flawless"). The Reporting Person controls Flawless and may be deemed to beneficially own the securities held by Flawless by virtue of such control. The Reporting Person disclaims beneficial ownership of such securities for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose. 100% of the shares are vested and exercisable.

Key Figures

Option exercise shares: 100,000 shares Option exercise price: $6.01 per share Gifted shares: 99,623 shares +3 more

6 metrics

Option exercise shares 100,000 shares Common stock acquired via option exercise at $6.01 on April 27, 2026

Option exercise price $6.01 per share Exercise price for 100,000-share stock option

Gifted shares 99,623 shares Bona fide gift of common stock on April 29, 2026

Direct holdings after transactions 4,480,863 shares StealthGas common stock directly held by Harry Vafias after reported transactions

Flawless Management holdings 7,105,453 shares Common shares held indirectly via Flawless Management Inc. as of April 27, 2026

Arethusa Properties holdings 586,020 shares Common shares held indirectly via Arethusa Properties LTD as of April 27, 2026

Key Terms

bona fide gift, Stock Option (Right to Buy), pecuniary interest, Section 16 of the Securities Exchange Act of 1934, +1 more

5 terms

bona fide gift financial

"reported as a bona fide gift of 99,623 shares of common stock"

Stock Option (Right to Buy) financial

"security_title: Stock Option (Right to Buy)"

pecuniary interest financial

"except to the extent of his pecuniary interest therein, if any"

Section 16 of the Securities Exchange Act of 1934 regulatory

"for purposes of Section 16 of the Securities Exchange Act of 1934, as amended"

A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.

beneficial ownership financial

"The Reporting Person disclaims beneficial ownership of such securities"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Form 4 Insider Transactions: What Each Field Means →

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^*

Vafias Harry

(Last) (First) (Middle)

STEALTHGAS INC.

331 KIFISSIAS AVENUE ERITHREA

(Street)

ATHENS GREECE 14561

(City) (State) (Zip)

GREECE

(Country)

2. Issuer Name and Ticker or Trading Symbol
StealthGas Inc. [ GASS ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO, President & CFO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/27/2026

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	04/27/2026		M		100,000	A	$6.01	4,381,240	D
Common Stock	04/29/2026		G	V	99,623	A	$0.00	4,480,863	D
Common Stock								586,020	I	By Arethusa Properties LTD(1)
Common Stock								7,105,453	I	By Flawless Management Inc.(2)

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
Stock Option (Right to Buy)	$6.01	04/27/2026		M			100,000	(3)	04/23/2034	Common Stock	100,000	$0	0	D

Explanation of Responses:

1. Shares held by Arethusa Properties LTD ("Arethusa"). The Reporting Person controls Arethusa and may be deemed to beneficially own the securities held by Arethusa by virtue of such control. The Reporting Person disclaims beneficial ownership of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose.

2. Shares held by Flawless Management Inc. ("Flawless"). The Reporting Person controls Flawless and may be deemed to beneficially own the securities held by Flawless by virtue of such control. The Reporting Person disclaims beneficial ownership of such securities for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose.

3. 100% of the shares are vested and exercisable.

	/s/ Harry Vafias	04/29/2026
	** 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)

FAQ

What insider transactions did StealthGas (GASS) report for Harry Vafias?

StealthGas reported that Harry Vafias exercised stock options for 100,000 common shares at $6.01 per share and later made a bona fide gift of 99,623 shares. These actions convert options into stock and transfer some shares without involving an open-market sale.

How many StealthGas (GASS) shares does Harry Vafias hold after these transactions?

After the reported transactions, Harry Vafias directly holds 4,480,863 shares of StealthGas common stock. The filing also lists additional shares held indirectly through entities he controls, while he disclaims beneficial ownership of those except for any pecuniary interest.

What is the nature of the 99,623-share transaction in StealthGas (GASS) stock?

The 99,623-share transaction is reported as a bona fide gift of StealthGas common stock, with a $0.00 transaction price. This means the shares were transferred without consideration, rather than sold on the open market for cash proceeds.

At what price did Harry Vafias exercise StealthGas (GASS) stock options?

Harry Vafias exercised stock options covering 100,000 StealthGas common shares at an exercise price of $6.01 per share. This option exercise converted a derivative award into regular shares and fully used that particular 100,000-share option position.

What indirect StealthGas (GASS) holdings are associated with Harry Vafias?

The filing shows 7,105,453 shares of StealthGas held by Flawless Management Inc. and 586,020 shares held by Arethusa Properties LTD. Vafias controls these entities but disclaims beneficial ownership of their shares except for any pecuniary interest.