Imperial Petroleum CEO reports equity awards, gift
Imperial Petroleum Inc. CEO and President Harry Vafias reported a mix of equity awards, a gift, and updated indirect holdings in the company’s common stock.
Rhea-AI Filing Summary
Imperial Petroleum Inc. CEO and President Harry Vafias reported a mix of equity awards, a gift, and updated indirect holdings in the company’s common stock.
He received a grant of 440,000 restricted shares and 299,000 stock options with a $4.95 exercise price, both vesting 50% on June 22, 2027 and 50% on June 22, 2028, subject to continued service. He made a bona fide gift of 33,627 shares and now holds 3,651,506 shares directly and 299,000 options. Indirectly, entities he controls hold 6,991,255 shares through Flawless Management Inc. and 3,307,452 shares through Arethusa Properties LTD, with beneficial ownership of those shares disclaimed except for any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
33,627 shares gifted
Gift
5 txns
Insider
Vafias Harry
Role
CEO and President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (Right to Buy) | 299,000 | $0.00 | $0.00 |
| Grant/Award | Common Stock | 440,000 | $0.00 | $0.00 |
| Gift | Common Stock | 33,627 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 299,000 contracts (Direct);
Common Stock — 3,651,506 shares (Direct);
Common Stock — 3,307,452 shares (Indirect, By Arethusa Properties LTD);
Common Stock — 6,991,255 shares (Indirect, By Flawless Management Inc.)
Footnotes (4)
- F1. Represents a restricted stock award. 50% of the shares subject to the award will vest on June 22, 2027. The remaining 50% will vest on June 22, 2028, subject to the Reporting Person's continuous service to the Issuer on such date.
- F2. 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.
- F3. 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.
- F4. 50% of the shares subject to such option vest and become exercisable on June 22, 2027. The remaining 50% of the shares subject to such option vest and become exercisable June 22, 2028, subject to the Reporting Person's continuous service to the Issuer on such date.
Key Figures
Restricted stock award: 440,000 shares
Stock options granted: 299,000 options at $4.95/share
Gifted shares: 33,627 shares
+4 more
7 metrics
Restricted stock award
440,000 shares
Grant to CEO on June 22, 2026; service-vested
Stock options granted
299,000 options at $4.95/share
Exercise price; options expire June 22, 2036
Gifted shares
33,627 shares
Bona fide gift of common stock on June 22, 2026
Direct common shares after transactions
3,651,506 shares
Direct holdings of CEO following reported transactions
Indirect holdings via Flawless
6,991,255 shares
Shares held by Flawless Management Inc., controlled by CEO
Indirect holdings via Arethusa
3,307,452 shares
Shares held by Arethusa Properties LTD, controlled by CEO
Equity award vesting schedule
50% in 2027, 50% in 2028
Vesting for both restricted shares and stock options
Key Terms
restricted stock award, bona fide gift, Stock Option (Right to Buy), pecuniary interest, +1 more
5 terms
restricted stock award financial
"Represents a restricted stock award. 50% of the shares subject to the award will vest on June 22, 2027."
A restricted stock award is company shares given to an employee or executive that cannot be sold or fully owned until certain conditions—like staying with the company for a set time or hitting performance targets—are met. Think of it as a gift that only becomes yours after you fulfill specific obligations; for investors, these awards matter because they can increase the total shares outstanding when they vest, reveal how management is being paid and motivated, and create potential selling pressure when restrictions lift.
bona fide gift financial
"transaction_code_description": "Bona fide gift""
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What equity awards did IMPP CEO Harry Vafias receive in this Form 4?
Harry Vafias received 440,000 restricted shares and 299,000 stock options at a $4.95 exercise price. Both awards vest 50% on June 22, 2027 and 50% on June 22, 2028, contingent on his continued service with Imperial Petroleum.
What are Harry Vafias’s direct holdings in Imperial Petroleum after these transactions?
After the reported transactions, Harry Vafias directly holds 3,651,506 shares of Imperial Petroleum common stock and 299,000 stock options. The options are exercisable at $4.95 per share and are scheduled to vest in two equal installments in 2027 and 2028.
What indirect Imperial Petroleum (IMPP) holdings are associated with entities controlled by the CEO?
Entities controlled by Harry Vafias hold significant indirect positions: Flawless Management Inc. holds 6,991,255 shares and Arethusa Properties LTD holds 3,307,452 shares. He may be deemed to beneficially own these shares but expressly disclaims beneficial ownership except for any pecuniary interest.
What is the nature of the stock option grant reported by the Imperial Petroleum CEO?
The filing reports a grant of 299,000 stock options, each allowing purchase of one Imperial Petroleum common share at $4.95. The options vest 50% on June 22, 2027 and 50% on June 22, 2028, and expire on June 22, 2036, subject to continued service.
AI-generated analysis. How Rhea-AI works. Not financial advice.
