OceanPal (OP) COO receives 1,096,205 restricted stock units grant

Rhea-AI Filing Summary

OceanPal Inc. filed an initial ownership report for Chief Operating Officer David L. Schwed, showing he was granted 1,096,205 restricted stock units. These units vest 25% on September 22, 2026, with the remaining balance vesting in equal monthly installments over the next 36 months, subject to his continued service. Each unit represents a contingent right to receive one share of OceanPal common stock, aligning his compensation with future company performance.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Schwed David L.

(Last) (First) (Middle)

PENDELIS 26

PALAIO FALIRO

(Street)

ATHENS 175 64

(City) (State) (Zip)

GREECE

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
OceanPal Inc. [ SVRN ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

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

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

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units(1)	(1)	(1)	Common Stock	1,096,205	(2)	D

Explanation of Responses:

1. The reporting person was granted 1,096,205 restricted stock units, vesting 25% on September 22, 2026, with the balance of the units vesting monthly in equal installments over the next 36 months, subject to continued service on each applicable vesting date.

2. Each restricted stock unit represents a contingent right to receive one share of Issuer's common stock.

	/s/ David L. Schwed	03/24/2026
	** 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 5 (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 3: SEC 1473 (03-26)

FAQ

What did OceanPal (OP) report in David Schwed’s Form 3 filing?

OceanPal reported that COO David L. Schwed holds 1,096,205 restricted stock units. These units are a form of equity-based compensation that convert into common shares over time as vesting conditions tied to his continued service are met.

How many restricted stock units were granted to OceanPal (OP) COO David Schwed?

David Schwed was granted 1,096,205 restricted stock units. This large equity award is designed to align his interests with shareholders by giving him the right to receive an equal number of OceanPal common shares as the units vest over time.

What is the vesting schedule for OceanPal (OP) COO David Schwed’s 1,096,205 RSUs?

The RSUs vest 25% on September 22, 2026, with the remaining balance vesting monthly in equal installments over the next 36 months. Vesting is conditioned on Schwed’s continued service with OceanPal on each applicable vesting date.

What does each OceanPal (OP) restricted stock unit represent for David Schwed?

Each restricted stock unit represents a contingent right to receive one share of OceanPal’s common stock. Schwed only receives the underlying shares as the RSUs vest over time, subject to his continued service with the company on each vesting date.

Is OceanPal (OP) COO David Schwed’s Form 3 filing a buy or sell transaction?

The Form 3 is not a buy or sell; it is an initial ownership report. It discloses that Schwed was granted 1,096,205 restricted stock units, which will convert into common shares only as they vest under the specified schedule.