[6-K] Safe Bulkers, Inc. Current Report (Foreign Issuer)
Form 4 filing overview: Clover Health Investments (CLOV) reported insider activity by Jamie L. Reynoso, listed as “CEO, Medicare Advantage.” On 30 June 2025 Ms. Reynoso earned 217,523 Class A shares through the final tranche of a March 16 2023 performance-based RSU award. To satisfy withholding taxes, the company automatically sold 85,596 shares at $2.79 per share. After the automatic sale, Ms. Reynoso’s direct ownership stands at 3,328,328 Class A shares, up roughly 132 k shares versus the prior balance.
- Nature of transaction: “A” code denotes acquisition from equity award; “F” code denotes shares withheld for taxes—neither represents an open-market trade.
- Cost basis: RSUs were settled at no cash cost to the insider; only the tax-withholding sale carries a market price.
- Alignment impact: The executive retains a sizable equity stake (≈3.3 million shares), reinforcing incentive alignment, but no new cash investment was made.
Overall, the filing reflects routine equity-compensation vesting and related tax withholding rather than a discretionary buy or sell decision. Market impact is expected to be neutral barring other catalysts.
Panoramica della presentazione del Modulo 4: Clover Health Investments (CLOV) ha segnalato un'attività interna da parte di Jamie L. Reynoso, indicata come “CEO, Medicare Advantage.” Il 30 giugno 2025 la Sig.ra Reynoso ha acquisito 217.523 azioni di Classe A tramite la tranche finale di un premio RSU basato sulle performance del 16 marzo 2023. Per coprire le tasse di ritenuta, la società ha venduto automaticamente 85.596 azioni a 2,79 $ ciascuna. Dopo questa vendita automatica, la proprietà diretta della Sig.ra Reynoso ammonta a 3.328.328 azioni di Classe A, con un aumento di circa 132 mila azioni rispetto al saldo precedente.
- Natura della transazione: Il codice “A” indica acquisizione da premio azionario; il codice “F” indica azioni trattenute per tasse—nessuno dei due rappresenta una transazione sul mercato aperto.
- Base di costo: Le RSU sono state liquidate senza alcun costo in denaro per l’insider; solo la vendita per la ritenuta fiscale ha un prezzo di mercato.
- Impatto sull’allineamento: L’esecutivo mantiene una significativa partecipazione azionaria (circa 3,3 milioni di azioni), rafforzando l’allineamento degli incentivi, ma non è stato effettuato alcun nuovo investimento in denaro.
In generale, la presentazione riflette la normale maturazione della compensazione azionaria e la relativa ritenuta fiscale, piuttosto che una decisione discrezionale di acquisto o vendita. L’impatto sul mercato è previsto come neutrale salvo altri fattori.
Resumen de la presentación del Formulario 4: Clover Health Investments (CLOV) reportó actividad interna por parte de Jamie L. Reynoso, listado como “CEO, Medicare Advantage.” El 30 de junio de 2025, la Sra. Reynoso obtuvo 217,523 acciones Clase A mediante el tramo final de una adjudicación de RSU basada en desempeño del 16 de marzo de 2023. Para cubrir impuestos retenidos, la empresa vendió automáticamente 85,596 acciones a $2.79 por acción. Tras esta venta automática, la propiedad directa de la Sra. Reynoso es de 3,328,328 acciones Clase A, aumentando aproximadamente 132 mil acciones respecto al saldo anterior.
- Naturaleza de la transacción: El código “A” indica adquisición por premio de acciones; el código “F” indica acciones retenidas para impuestos—ninguno representa una operación en mercado abierto.
- Base de costo: Las RSU se liquidaron sin costo en efectivo para el insider; solo la venta por retención fiscal tiene precio de mercado.
- Impacto en la alineación: El ejecutivo mantiene una participación accionaria considerable (≈3.3 millones de acciones), reforzando la alineación de incentivos, pero no realizó una nueva inversión en efectivo.
En general, la presentación refleja la consolidación rutinaria de la compensación en acciones y la retención fiscal relacionada, más que una decisión discrecional de compra o venta. Se espera un impacto en el mercado neutral salvo otros catalizadores.
Form 4 제출 개요: Clover Health Investments (CLOV)는 ‘CEO, Medicare Advantage’로 등재된 Jamie L. Reynoso의 내부자 활동을 보고했습니다. 2025년 6월 30일, Reynoso 씨는 2023년 3월 16일 성과 기반 RSU 보상의 최종 분할로 217,523 클래스 A 주식을 취득했습니다. 원천징수세를 충당하기 위해 회사는 자동으로 85,596주를 주당 2.79달러에 매도했습니다. 자동 매도 후 Reynoso 씨의 직접 소유 주식은 3,328,328 클래스 A 주식으로, 이전 잔액 대비 약 13만 2천 주 증가했습니다.
- 거래 성격: “A” 코드는 주식 보상에 따른 취득을, “F” 코드는 세금 원천징수용 주식 보유를 의미하며, 둘 다 공개시장 거래는 아닙니다.
- 원가 기준: RSU는 내부자에게 현금 비용 없이 정산되었으며, 세금 원천징수 매도만 시장 가격이 적용됩니다.
- 정렬 영향: 임원은 상당한 지분(약 330만 주)을 유지하여 인센티브 정렬을 강화하지만, 새로운 현금 투자는 이루어지지 않았습니다.
전반적으로 이번 제출은 임의의 매매 결정이 아닌 정기적인 주식 보상 취득과 세금 원천징수를 반영합니다. 다른 촉매가 없다면 시장 영향은 중립적일 것으로 예상됩니다.
Résumé du dépôt du formulaire 4 : Clover Health Investments (CLOV) a signalé une activité d’initié de Jamie L. Reynoso, désignée comme « CEO, Medicare Advantage ». Le 30 juin 2025, Mme Reynoso a acquis 217 523 actions de Classe A via la tranche finale d’une attribution de RSU basée sur la performance du 16 mars 2023. Pour couvrir les impôts à la source, la société a automatiquement vendu 85 596 actions à 2,79 $ chacune. Après cette vente automatique, la détention directe de Mme Reynoso s’élève à 3 328 328 actions de Classe A, soit une augmentation d’environ 132 000 actions par rapport au solde précédent.
- Nature de la transaction : Le code « A » indique une acquisition via attribution d’actions ; le code « F » désigne les actions retenues pour impôts — aucune des deux ne correspond à une transaction sur le marché libre.
- Base de coût : Les RSU ont été réglées sans coût en numéraire pour l’initié ; seule la vente liée à la retenue d’impôt a un prix de marché.
- Impact sur l’alignement : La dirigeante conserve une participation importante (≈3,3 millions d’actions), renforçant l’alignement des incitations, mais aucun nouvel investissement en numéraire n’a été effectué.
Dans l’ensemble, le dépôt reflète une attribution d’actions régulière et la retenue fiscale associée, plutôt qu’une décision discrétionnaire d’achat ou de vente. L’impact sur le marché est attendu comme neutre, sauf autres catalyseurs.
Übersicht der Form 4 Einreichung: Clover Health Investments (CLOV) meldete Insider-Aktivitäten von Jamie L. Reynoso, aufgeführt als „CEO, Medicare Advantage.“ Am 30. Juni 2025 erhielt Frau Reynoso 217.523 Class A Aktien im Rahmen der letzten Tranche einer leistungsabhängigen RSU-Zuteilung vom 16. März 2023. Zur Begleichung der Quellensteuer verkaufte das Unternehmen automatisch 85.596 Aktien zu je 2,79 $. Nach dem automatischen Verkauf hält Frau Reynoso direkt 3.328.328 Class A Aktien, was einem Anstieg von etwa 132.000 Aktien gegenüber dem vorherigen Bestand entspricht.
- Art der Transaktion: Der Code „A“ steht für Erwerb durch Aktienzuteilung; der Code „F“ für einbehaltene Aktien zur Steuerzahlung – beides sind keine offenen Markttransaktionen.
- Kostenbasis: Die RSUs wurden ohne Barausgabe für den Insider abgewickelt; nur der Verkauf zur Steuerabführung erfolgte zum Marktpreis.
- Auswirkung auf die Ausrichtung: Die Führungskraft hält eine beträchtliche Beteiligung (ca. 3,3 Millionen Aktien), was die Anreizausrichtung stärkt, jedoch wurde keine neue Barinvestition getätigt.
Insgesamt spiegelt die Einreichung eine routinemäßige Aktienvergütung und die damit verbundene Steuerabführung wider, keine diskretionäre Kauf- oder Verkaufsentscheidung. Die Marktauswirkung wird neutral erwartet, sofern keine weiteren Auslöser vorliegen.
- Executive ownership rises by ~132,000 shares, increasing alignment with shareholders.
- Performance-based vesting suggests the company met or exceeded predefined targets tied to the 2023 RSU grant.
- None.
Insights
TL;DR: Routine RSU vesting—neutral impact; insider’s stake increases, no open-market buying.
The 217.5 k share addition arises from a scheduled performance-based RSU vesting. The automatic 85.6 k-share sale merely covers payroll taxes. Net beneficial ownership growth of ~132 k shares (≈4 % of her prior holdings) is not large enough to signal a strong incremental vote of confidence, but it modestly enhances alignment. Because there is no discretionary purchase or sale, I view the filing as informational, not directional. Trading volume impact should be minimal.
TL;DR: Performance-based vesting confirms compensation plan progression; governance concerns minimal.
The disclosure shows Clover Health’s incentive structure functioning as designed: shares vest only after performance hurdles, with automatic tax withholding to avoid insider liquidity strain. The executive’s continued sizable ownership (3.3 M shares) exceeds common ownership guidelines, fostering shareholder alignment. There are no indications of problematic timing, 10b5-1 usage, or unusual dispositions. Therefore, the governance signal is neutral-to-slightly-positive, but not materially impactful to valuation.
Panoramica della presentazione del Modulo 4: Clover Health Investments (CLOV) ha segnalato un'attività interna da parte di Jamie L. Reynoso, indicata come “CEO, Medicare Advantage.” Il 30 giugno 2025 la Sig.ra Reynoso ha acquisito 217.523 azioni di Classe A tramite la tranche finale di un premio RSU basato sulle performance del 16 marzo 2023. Per coprire le tasse di ritenuta, la società ha venduto automaticamente 85.596 azioni a 2,79 $ ciascuna. Dopo questa vendita automatica, la proprietà diretta della Sig.ra Reynoso ammonta a 3.328.328 azioni di Classe A, con un aumento di circa 132 mila azioni rispetto al saldo precedente.
- Natura della transazione: Il codice “A” indica acquisizione da premio azionario; il codice “F” indica azioni trattenute per tasse—nessuno dei due rappresenta una transazione sul mercato aperto.
- Base di costo: Le RSU sono state liquidate senza alcun costo in denaro per l’insider; solo la vendita per la ritenuta fiscale ha un prezzo di mercato.
- Impatto sull’allineamento: L’esecutivo mantiene una significativa partecipazione azionaria (circa 3,3 milioni di azioni), rafforzando l’allineamento degli incentivi, ma non è stato effettuato alcun nuovo investimento in denaro.
In generale, la presentazione riflette la normale maturazione della compensazione azionaria e la relativa ritenuta fiscale, piuttosto che una decisione discrezionale di acquisto o vendita. L’impatto sul mercato è previsto come neutrale salvo altri fattori.
Resumen de la presentación del Formulario 4: Clover Health Investments (CLOV) reportó actividad interna por parte de Jamie L. Reynoso, listado como “CEO, Medicare Advantage.” El 30 de junio de 2025, la Sra. Reynoso obtuvo 217,523 acciones Clase A mediante el tramo final de una adjudicación de RSU basada en desempeño del 16 de marzo de 2023. Para cubrir impuestos retenidos, la empresa vendió automáticamente 85,596 acciones a $2.79 por acción. Tras esta venta automática, la propiedad directa de la Sra. Reynoso es de 3,328,328 acciones Clase A, aumentando aproximadamente 132 mil acciones respecto al saldo anterior.
- Naturaleza de la transacción: El código “A” indica adquisición por premio de acciones; el código “F” indica acciones retenidas para impuestos—ninguno representa una operación en mercado abierto.
- Base de costo: Las RSU se liquidaron sin costo en efectivo para el insider; solo la venta por retención fiscal tiene precio de mercado.
- Impacto en la alineación: El ejecutivo mantiene una participación accionaria considerable (≈3.3 millones de acciones), reforzando la alineación de incentivos, pero no realizó una nueva inversión en efectivo.
En general, la presentación refleja la consolidación rutinaria de la compensación en acciones y la retención fiscal relacionada, más que una decisión discrecional de compra o venta. Se espera un impacto en el mercado neutral salvo otros catalizadores.
Form 4 제출 개요: Clover Health Investments (CLOV)는 ‘CEO, Medicare Advantage’로 등재된 Jamie L. Reynoso의 내부자 활동을 보고했습니다. 2025년 6월 30일, Reynoso 씨는 2023년 3월 16일 성과 기반 RSU 보상의 최종 분할로 217,523 클래스 A 주식을 취득했습니다. 원천징수세를 충당하기 위해 회사는 자동으로 85,596주를 주당 2.79달러에 매도했습니다. 자동 매도 후 Reynoso 씨의 직접 소유 주식은 3,328,328 클래스 A 주식으로, 이전 잔액 대비 약 13만 2천 주 증가했습니다.
- 거래 성격: “A” 코드는 주식 보상에 따른 취득을, “F” 코드는 세금 원천징수용 주식 보유를 의미하며, 둘 다 공개시장 거래는 아닙니다.
- 원가 기준: RSU는 내부자에게 현금 비용 없이 정산되었으며, 세금 원천징수 매도만 시장 가격이 적용됩니다.
- 정렬 영향: 임원은 상당한 지분(약 330만 주)을 유지하여 인센티브 정렬을 강화하지만, 새로운 현금 투자는 이루어지지 않았습니다.
전반적으로 이번 제출은 임의의 매매 결정이 아닌 정기적인 주식 보상 취득과 세금 원천징수를 반영합니다. 다른 촉매가 없다면 시장 영향은 중립적일 것으로 예상됩니다.
Résumé du dépôt du formulaire 4 : Clover Health Investments (CLOV) a signalé une activité d’initié de Jamie L. Reynoso, désignée comme « CEO, Medicare Advantage ». Le 30 juin 2025, Mme Reynoso a acquis 217 523 actions de Classe A via la tranche finale d’une attribution de RSU basée sur la performance du 16 mars 2023. Pour couvrir les impôts à la source, la société a automatiquement vendu 85 596 actions à 2,79 $ chacune. Après cette vente automatique, la détention directe de Mme Reynoso s’élève à 3 328 328 actions de Classe A, soit une augmentation d’environ 132 000 actions par rapport au solde précédent.
- Nature de la transaction : Le code « A » indique une acquisition via attribution d’actions ; le code « F » désigne les actions retenues pour impôts — aucune des deux ne correspond à une transaction sur le marché libre.
- Base de coût : Les RSU ont été réglées sans coût en numéraire pour l’initié ; seule la vente liée à la retenue d’impôt a un prix de marché.
- Impact sur l’alignement : La dirigeante conserve une participation importante (≈3,3 millions d’actions), renforçant l’alignement des incitations, mais aucun nouvel investissement en numéraire n’a été effectué.
Dans l’ensemble, le dépôt reflète une attribution d’actions régulière et la retenue fiscale associée, plutôt qu’une décision discrétionnaire d’achat ou de vente. L’impact sur le marché est attendu comme neutre, sauf autres catalyseurs.
Übersicht der Form 4 Einreichung: Clover Health Investments (CLOV) meldete Insider-Aktivitäten von Jamie L. Reynoso, aufgeführt als „CEO, Medicare Advantage.“ Am 30. Juni 2025 erhielt Frau Reynoso 217.523 Class A Aktien im Rahmen der letzten Tranche einer leistungsabhängigen RSU-Zuteilung vom 16. März 2023. Zur Begleichung der Quellensteuer verkaufte das Unternehmen automatisch 85.596 Aktien zu je 2,79 $. Nach dem automatischen Verkauf hält Frau Reynoso direkt 3.328.328 Class A Aktien, was einem Anstieg von etwa 132.000 Aktien gegenüber dem vorherigen Bestand entspricht.
- Art der Transaktion: Der Code „A“ steht für Erwerb durch Aktienzuteilung; der Code „F“ für einbehaltene Aktien zur Steuerzahlung – beides sind keine offenen Markttransaktionen.
- Kostenbasis: Die RSUs wurden ohne Barausgabe für den Insider abgewickelt; nur der Verkauf zur Steuerabführung erfolgte zum Marktpreis.
- Auswirkung auf die Ausrichtung: Die Führungskraft hält eine beträchtliche Beteiligung (ca. 3,3 Millionen Aktien), was die Anreizausrichtung stärkt, jedoch wurde keine neue Barinvestition getätigt.
Insgesamt spiegelt die Einreichung eine routinemäßige Aktienvergütung und die damit verbundene Steuerabführung wider, keine diskretionäre Kauf- oder Verkaufsentscheidung. Die Marktauswirkung wird neutral erwartet, sofern keine weiteren Auslöser vorliegen.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2025
SAFE BULKERS, INC.
(Translation of registrant’s name into English)
Apt. D11, Les Acanthes 6, Avenue des Citronniers, MC98000 Monaco
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Indicate by check mark whether the registrant by furnishing the information contained in the Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No x
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
INCORPORATION BY REFERENCE
This Report on Form 6-K shall be incorporated by reference into our registration statement on Form F-3, as filed with the Securities and Exchange Commission on August 6, 2024 and as may be further amended, to the extent not superseded by documents or reports subsequently filed by us under the Securities Act of 1933 or the Securities Exchange Act of 1934, in each case as amended.
EXHIBIT INDEX
1. Press Release dated July 2, 2025: Safe Bulkers, Inc. Declares Quarterly Dividend on its 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares; 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: July 2, 2025
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| SAFE BULKERS, INC. | |
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| By: | /s/ Konstantinos Adamopoulos |
| Name: | Konstantinos Adamopoulos |
| Title: | Chief Financial Officer |
![[f70225sb6k001.jpg]](https://www.sec.gov/Archives/edgar/data/0001434754/000131786125000036/f70225sb6k001.jpg)
Safe Bulkers, Inc. Declares Quarterly Dividend on its
8.00% Series C Cumulative Redeemable Perpetual Preferred Shares;
8.00% Series D Cumulative Redeemable Perpetual Preferred Shares
Monaco – July 2, 2025 -- Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that the Company's Board of Directors has declared:
·
a cash dividend of $0.50 per share on its 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares (the “Series C Preferred Shares”) (NYSE: SB.PR.C) for the period from April 30, 2025 to July 29, 2025;
·
a cash dividend of $0.50 per share on its 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares (the “Series D Preferred Shares”) (NYSE: SB.PR.D) for the period from April 30, 2025 to July 29, 2025.
Each dividend will be paid on July 30, 2025, to all shareholders of record as of July 18, 2025 of the Series C Preferred Shares and of the Series D Preferred Shares, respectively. Dividends on the Series C and D Preferred Shares are payable quarterly in arrears on the 30th day (unless the 30th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of January, April, July and October of each year.
The declaration and payment of future dividends, if any, will always be subject to the discretion of the Board of Directors of the Company. There is no guarantee that the Company’s Board of Directors will determine to issue cash dividends in the future. The timing and amount of any dividends declared will depend on, among other things: (i) the Company’s earnings, fleet employment profile, financial condition and cash requirements and available sources of liquidity; (ii) decisions in relation to the Company’s growth, fleet renewal and leverage strategies; (iii) provisions of Marshall Islands and Liberian law governing the payment of dividends; (iv) restrictive covenants in the Company’s existing and future debt instruments; and (v) global economic and financial conditions.
About Safe Bulkers, Inc.
The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of marine drybulk transportation services. The Company's common stock, Series C and Series D preferred stock is listed on the NYSE, where it trades under the symbols “SB”, “SB.PR.C” and “SB.PR.D”, respectively.
Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Exchange Act of 1933, as amended, and in the Section 21E of the Securities Act of 1934, as amended) concerning future events, the Company’s growth strategy and measures to implement such strategy, including expected vessel acquisitions and entering into further time charters. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the demand for drybulk vessels, competitive factors in the market in which the Company operates, risks associated with operations outside the United States and other factors listed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
For further information please contact:
Company Contact:
Dr. Loukas Barmparis
President
Safe Bulkers, Inc.
Tel.: +30 2 111 888 400
+357 25 887 200
E-Mail: directors@safebulkers.com
Investor Relations / Media Contact:
Nicolas Bornozis, President
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, N.Y. 10169
Tel.: (212) 661-7566
Fax: (212) 661-7526
E-Mail: safebulkers@capitallink.com
FAQ
What insider transaction did Jamie L. Reynoso report for CLOV?
How many Clover Health shares does Reynoso own after the Form 4 filing?
Were any open-market purchases or sales involved?
At what price were shares sold to cover taxes?
Does the filing indicate use of a Rule 10b5-1 plan?
