Imperial Petroleum CEO files Form 3 holdings
Imperial Petroleum Inc. CEO and President Harry Vafias filed an initial Form 3 reporting his ownership in the company.
Rhea-AI Filing Summary
Imperial Petroleum Inc. CEO and President Harry Vafias filed an initial Form 3 reporting his ownership in the company. He directly holds 3,177,879 common shares, options over 234,375 shares at $3.20, 299,003 shares at $3.01, and 50,000 shares at $3.60, plus direct and indirect stakes in Series A and Series B preferred stock, including interests held through Arethusa Properties LTD and Flawless Management Inc. Some option grants vest over time through 2027, conditioned on his continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
10 transactions reported
Mixed
10 txns
Insider
Vafias Harry
Role
CEO and President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | 8.75% Series A Cumulative Redeemable Perp. Preferred Stock | -- | -- | -- |
| holding | 8.75% Series A Cumulative Redeemable Perp. Preferred Stock | -- | -- | -- |
| holding | 8.75% Series A Cumulative Redeemable Perp. Preferred Stock | -- | -- | -- |
| holding | Series B Preferred Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 583,378 contracts (Direct);
Common Stock — 3,177,879 shares (Direct);
Common Stock — 3,307,452 shares (Indirect, By Arethusa Properties LTD);
Common Stock — 6,991,255 shares (Indirect, By Flawless Management Inc.);
8.75% Series A Cumulative Redeemable Perp. Preferred Stock — 24,033 shares (Direct);
8.75% Series A Cumulative Redeemable Perp. Preferred Stock — 28,146 shares (Indirect, By Arethusa Properties LTD);
8.75% Series A Cumulative Redeemable Perp. Preferred Stock — 148,030 shares (Indirect, By Flawless Management Inc.);
Series B Preferred Stock — 16,000 shares (Direct)
Footnotes (4)
- F1. 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.
- F2. 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.
- F3. 50% of the shares subject to such option are vested and exercisable. The remaining 50% of the shares subject to such option vest and become exercisable on January 8, 2027, subject to the Reporting Person's continuous service to the Issuer on such date.
- F4. 50% of the shares subject to such option are vesting and become exercisable on August 8, 2026. The remaining 50% of the shares subject to such option vest and become exercisable August 8, 2027, subject to the Reporting Person's continuous service to the Issuer on such date.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does the IMPP Form 3 filing by Harry Vafias show?
The Form 3 shows CEO Harry Vafias’ initial ownership in Imperial Petroleum. He reports direct common shares, several stock option awards with exercise prices around $3, and positions in Series A and B preferred shares, including indirect holdings through controlled entities.
What stock options are reported for Harry Vafias in the IMPP Form 3?
He reports three stock option positions over 234,375 common shares at $3.20, 299,003 shares at $3.01, and 50,000 shares at $3.60. These options expire between 2034 and 2035, with portions vesting over time subject to his continued service.
How are Arethusa Properties LTD and Flawless Management Inc. involved in IMPP holdings?
Common and preferred shares are held indirectly through Arethusa Properties LTD and Flawless Management Inc. Vafias controls these entities and may be deemed to beneficially own their securities, but he formally disclaims beneficial ownership beyond any pecuniary interest.
What preferred stock positions does Harry Vafias report in Imperial Petroleum?
He reports direct and indirect holdings of 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock and a direct position of 16,000 shares of Series B Preferred Stock. Some Series A shares are held personally, and additional amounts are held through Arethusa and Flawless.
AI-generated analysis. How Rhea-AI works. Not financial advice.
