How are Giannopoulos’s time-based GSL share awards structured?

The Form 4 notes 42,308 unvested Class A common shares vest quarterly on a pro rata basis. Vesting starts from the quarter ended June 30, 2026, and is conditioned on the reporting person’s continued service with Global Ship Lease during the vesting period.

What performance conditions apply to GSL’s 50,000-share performance awards mentioned in the filing?

Two separate 50,000-share awards vest based on Global Ship Lease’s return on equity. One vests in thirds measured as of December 31 of 2026, 2027, and 2028, while another 50,000-share award vests on December 31, 2028, based on performance over the full term.

Under which plan were the GSL share awards to Giannopoulos granted?

All referenced Class A common share awards were granted under Global Ship Lease’s 2019 Omnibus Incentive Plan, as amended and restated. This plan governs equity-based incentives such as time-based and performance-based share awards for the reporting person.

Global Ship Lease (GSL) compliance chief sells 7,692 shares, retains awards

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Global Ship Lease, Inc. Chief Compliance Officer Georgios Giannopoulos sold 7,692 Class A common shares in an open-market transaction at a weighted average price of $38.511 per share, within a range of $38.44 to $38.66.

He continues to hold 142,308 unvested share awards that vest over time and are tied to the company’s return-on-equity performance through December 31, 2028.

Insider Trade Summary

Net Seller: 7,692 shares ($296,227)

Net Sell 2 txns

Insider Giannopoulos Georgios

Role Chief Compliance Officer

Sold 7,692 shs ($296K)

Type	Security	Shares	Price	Value
Sale	Class A Common Shares, par value of $0.01 per share	7,692	$38.511	$296K
holding	Class A Common Shares, par value of $0.01 per share	--	--	--

Holdings After Transaction: Class A Common Shares, par value of $0.01 per share — 0 shares (Direct)

Footnotes (1)

Class A Common Shares of Global Ship Lease, Inc. (the "Issuer") granted to the reporting person pursuant to the Issuer's 2019 Omnibus Incentive Plan, as amended and restated (the "Plan"). The price reported represents the weighted average price of Class A Common Shares of the Issuer sold in multiple transactions at prices ranging from $38.44 to $38.66 per share. The reporting person will provide to the Issuer, or the U.S. Securities and Exchange Commission staff, upon request, information regarding the number of shares sold at each price within the range. Unvested awards of Class A Common Shares of the Issuer granted to the reporting person pursuant to the Plan, consisting of (i) 42,308 shares which vest quarterly, pro rata, commencing from the quarter ended June 30, 2026, conditioned on the reporting person's continued service, (ii) 50,000 shares, of which approximately 1/3 are earned upon the Company's achievement of a specified annualized return on equity that is measured as of December 31 of 2026, 2027 and 2028, respectively, after which, such earned shares are notionally divided into a number of quarterly installments within the 3.25 year period beginning October 1, 2025 (the "Term") and are eligible to vest on this basis, and (iii) 50,000 shares which vest at December 31, 2028 based on the Company's achievement of a specified return on equity over the full Term.

Key Figures

Shares sold: 7,692 shares Weighted average sale price: $38.511 per share Unvested awards outstanding: 142,308 shares +4 more

7 metrics

Shares sold 7,692 shares Open‑market sale of Class A common shares on April 7, 2026

Weighted average sale price $38.511 per share Average price for multiple trades between $38.44 and $38.66

Unvested awards outstanding 142,308 shares Unvested Class A common share awards remaining after the reported sale

Time-based vesting tranche 42,308 shares Vest quarterly, pro rata, starting from quarter ended June 30, 2026

Performance award 1 50,000 shares Approximately one‑third earned on ROE targets at Dec 31 of 2026–2028

Performance award 2 50,000 shares Vest at December 31, 2028 based on ROE over the full term

Performance term length 3.25 years Term beginning October 1, 2025 for performance‑based vesting schedule

Key Terms

2019 Omnibus Incentive Plan, weighted average price, unvested awards, annualized return on equity, +1 more

5 terms

2019 Omnibus Incentive Plan financial

"granted to the reporting person pursuant to the Issuer's 2019 Omnibus Incentive Plan, as amended and restated"

weighted average price financial

"The price reported represents the weighted average price of Class A Common Shares of the Issuer sold in multiple transactions"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

unvested awards financial

"Unvested awards of Class A Common Shares of the Issuer granted to the reporting person pursuant to the Plan"

annualized return on equity financial

"earned upon the Company's achievement of a specified annualized return on equity that is measured as of December 31"

Annualized return on equity measures how much profit a company generates each year for every dollar investors have left in the business after liabilities are subtracted. Think of shareholder equity as seeds you plant and annualized ROE as the yearly harvest rate—higher values mean the company is generally better at turning investor money into profit, and annualizing lets investors compare performance on a common yearly basis.

Term financial

"within the 3.25 year period beginning October 1, 2025 (the "Term") and are eligible to vest on this basis"

Form 4 Insider Transactions: What Each Field Means →

04/09/2026 - 04:06 PM

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^*

Giannopoulos Georgios

(Last)

(First)

(Middle)

9 IRODOU ATTIKOU STREET

(Street)

KIFISIA, ATHENS

14561

(City)

(State)

(Zip)

GREECE

(Country)

2. Issuer Name and Ticker or Trading Symbol
Global Ship Lease, Inc. [ GSL ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Compliance Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/07/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Shares, par value of $0.01 per share	04/07/2026		S		7,692⁽¹⁾	D	$38.511⁽²⁾	0	D
Class A Common Shares, par value of $0.01 per share								142,308⁽³⁾	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Class A Common Shares of Global Ship Lease, Inc. (the "Issuer") granted to the reporting person pursuant to the Issuer's 2019 Omnibus Incentive Plan, as amended and restated (the "Plan").

2. The price reported represents the weighted average price of Class A Common Shares of the Issuer sold in multiple transactions at prices ranging from $38.44 to $38.66 per share. The reporting person will provide to the Issuer, or the U.S. Securities and Exchange Commission staff, upon request, information regarding the number of shares sold at each price within the range.

3. Unvested awards of Class A Common Shares of the Issuer granted to the reporting person pursuant to the Plan, consisting of (i) 42,308 shares which vest quarterly, pro rata, commencing from the quarter ended June 30, 2026, conditioned on the reporting person's continued service, (ii) 50,000 shares, of which approximately 1/3 are earned upon the Company's achievement of a specified annualized return on equity that is measured as of December 31 of 2026, 2027 and 2028, respectively, after which, such earned shares are notionally divided into a number of quarterly installments within the 3.25 year period beginning October 1, 2025 (the "Term") and are eligible to vest on this basis, and (iii) 50,000 shares which vest at December 31, 2028 based on the Company's achievement of a specified return on equity over the full Term.

	/s/ George Giannopoulos	04/09/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did GSL Chief Compliance Officer Georgios Giannopoulos report?

Giannopoulos reported an open-market sale of 7,692 Class A common shares of Global Ship Lease. The weighted average sale price was $38.511 per share, with individual trades executed between $38.44 and $38.66, according to the Form 4 disclosure.

At what price did the GSL insider shares sell in this Form 4 filing?

The reported transaction used a weighted average sale price of $38.511 per GSL Class A common share. Trades occurred across multiple executions within a price range from $38.44 to $38.66 per share, as detailed in the Form 4 footnotes.

How many Global Ship Lease (GSL) shares does the insider still have exposure to?

The filing shows 142,308 unvested awards of GSL Class A common shares remain outstanding for the reporting person. These awards vest over time and depend partly on Global Ship Lease meeting specified return-on-equity performance targets through the end of 2028.