OceanPal Inc. (OP) director discloses Series C preferred and common stock stake
Rhea-AI Filing Summary
OceanPal Inc. director Papatrifon Eleftherios filed an initial ownership report showing his equity position in the company. He holds 2,084 shares of 8.0% Series C cumulative convertible perpetual preferred stock, which are currently convertible into 3,330,669 shares of common stock, and 470,588 common shares directly. The preferred shares are convertible at his option but are subject to ownership limits that prevent him from becoming the beneficial owner of more than 49% of OceanPal’s outstanding shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Papatrifon Eleftherios
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | 8.0% Series C Cum. Con. Perpetual Preferred Shares | -- | -- | -- |
| holding | Common Stock, $0.01 par value per share | -- | -- | -- |
Holdings After Transaction:
8.0% Series C Cum. Con. Perpetual Preferred Shares — 3,330,669 shares (Direct);
Common Stock, $0.01 par value per share — 470,588 shares (Direct)
Footnotes (1)
- F1. The Reporting Person owns 2,084 shares of the Series C Preferred Stock granted pursuant to the Issuer's 2021 Equity Incentive Plan, as amended and restated. 2,084 shares of Series C Preferred Stock, convertible into an aggregate of 3,330,669 shares of common stock based on a VWAP calculation as of March 17, 2026. The shares of Series C Preferred Stock are convertible at the Reporting Person's option, giving effect to certain ownership restrictions contained in the Series C Preferred Stock's statement of designation and a Shareholder's Covenant Agreement, including that the shares of Series C Preferred Stock shall not be convertible into the Issuers' Shares to the extent that such conversion would result in the Reporting Person becoming the beneficial owner of more than 49% of the total issued and outstanding Shares among other restrictions.
FAQ
What insider position did Papatrifon Eleftherios report in OceanPal Inc. (OP)?
Papatrifon Eleftherios reported his existing holdings as a director of OceanPal Inc.. He disclosed both preferred and common shares, providing a baseline view of his ownership stake without recording any new purchases or sales in this filing.
Did this OceanPal Form 3 show any insider buying or selling activity?
No. The Form 3 reflects holdings only, not new transactions. It lists the director’s existing preferred and common share positions, without recording purchases, sales, exercises, or other trading activity during the reported period.
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