Performance Shipping CEO reports indirect holdings
Performance Shipping Inc. director and CEO Andreas Michalopoulos reports indirect holdings of preferred and common equity.
Rhea-AI Filing Summary
Performance Shipping Inc. director and CEO Andreas Michalopoulos reports indirect holdings of preferred and common equity. Through Mitzela Corp., he is associated with Series C Preferred Shares convertible into 1,039,979 common shares and 420 common shares. His spouse, via Mango Shipping Corp., is associated with Series C Preferred Shares convertible into 24,268,863 common shares and 280 common shares. The Series C Preferred Shares are convertible at any time at the holder’s option, with each share convertible into common stock based on a $25.00 preference plus accrued dividends divided by a conversion price of $1.3576 per common share, and they have no expiration date.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Michalopoulos Andreas Nikolaos
Role
CEO and Secretary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Series C Preferred Shares | -- | -- | -- |
| holding | Series C Preferred Shares | -- | -- | -- |
| holding | Common shares, par value $0.01 | -- | -- | -- |
| holding | Common shares, par value $0.01 | -- | -- | -- |
Holdings After Transaction:
Series C Preferred Shares — 1,039,979 contracts (Indirect, Held through Mitzela Corp.);
Series C Preferred Shares — 24,268,863 contracts (Indirect, Held by spouse through Mango Shipping Corp.);
Common shares, par value $0.01 — 420 shares (Indirect, Held through Mitzela Corp.);
Common shares, par value $0.01 — 280 shares (Indirect, Held by spouse through Mango Shipping Corp.)
Footnotes (5)
- F1. Andreas Michalopoulos owns and controls Mitzela Corp.
- F2. Andreas Michalopoulos' spouse, Aliki Paliou, is a director of the Issuer and owns and controls Mango Shipping Corp.
- F3. The Series C Preferred Shares are convertible into the Issuer's Common Shares on a at any time at the option of the Reporting Person.
- F4. The Series C Preferred Shares have no expiration date.
- F5. Each Series C Preferred Shares is convertible into a number of shares of Issuer's Common Stock, determined by dividing (i) $25.00 plus the amount of any accrued and unpaid dividends thereon by (ii) a conversion price of $1.3576 per Common Share, subject to adjustment from time to time.
Key Figures
Convertible common via Mitzela: 1,039,979 shares
Convertible common via Mango: 24,268,863 shares
Common shares via Mitzela: 420 shares
+3 more
6 metrics
Convertible common via Mitzela
1,039,979 shares
Underlying common shares from Series C Preferred held through Mitzela Corp.
Convertible common via Mango
24,268,863 shares
Underlying common shares from Series C Preferred held via Mango Shipping Corp.
Common shares via Mitzela
420 shares
Indirectly held common shares through Mitzela Corp.
Common shares via Mango
280 shares
Indirectly held common shares via Mango Shipping Corp.
Conversion preference amount
$25.00 per preferred share
Amount in numerator of Series C conversion formula, plus accrued dividends
Conversion price
$1.3576 per common share
Denominator in Series C Preferred Share conversion formula
Key Terms
Series C Preferred Shares, indirect, conversion price, accrued and unpaid dividends, +1 more
5 terms
indirect financial
"ownership_type: "indirect" and ownership_code: "I" for several holdings"
conversion price financial
"dividing (i) $25.00 plus the amount of any accrued and unpaid dividends thereon by (ii) a conversion price of $1.3576 per Common Share"
The conversion price is the fixed price at which a convertible security, like a bond or preferred stock, can be exchanged for shares of common stock. It acts like a set rate that determines how many shares an investor can receive if they choose to convert their investment. This helps investors understand the value and potential benefits of converting their securities into company shares.
accrued and unpaid dividends financial
"$25.00 plus the amount of any accrued and unpaid dividends thereon"
Accrued and unpaid dividends are dividend payments that a company has declared or owes to shareholders but has not yet actually paid out. For investors this matters because it represents cash they expect to receive—like a paycheck that’s been earned but not yet issued—and signals the company’s payment priorities and short-term cash health, which can affect shareholder returns and claims in cases like restructuring.
no expiration date financial
"The Series C Preferred Shares have no expiration date."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider holdings does PSHG CEO Andreas Michalopoulos report in this Form 3?
He reports indirect interests in Series C Preferred Shares and common shares. Through Mitzela Corp., he is linked to preferred shares convertible into 1,039,979 common shares plus 420 common shares, and through his spouse’s Mango Shipping Corp. to preferred shares convertible into 24,268,863 common shares plus 280 common shares.
How are the indirect holdings of PSHG’s CEO structured?
Indirect holdings are structured through two entities. Andreas Michalopoulos owns and controls Mitzela Corp., while his spouse, director Aliki Paliou, owns and controls Mango Shipping Corp., and each entity holds Series C Preferred Shares and common shares on an indirect basis for reporting purposes.
What role does spouse Mango Shipping Corp. play in PSHG insider ownership?
Mango Shipping Corp. is owned and controlled by the CEO’s spouse, director Aliki Paliou. It holds Series C Preferred Shares convertible into 24,268,863 common shares and 280 common shares, which are reported as indirect holdings associated with the reporting person under SEC beneficial ownership rules.
AI-generated analysis. How Rhea-AI works. Not financial advice.
