Indirect stakes in Safe Bulkers (SB) reported by CEO Polys Hajioannou

Rhea-AI Filing Summary

Safe Bulkers, Inc. Chief Executive Officer and director Polys Hajioannou filed an initial statement of beneficial ownership of common stock. The Form 3 shows several large indirect positions in Safe Bulkers shares, all marked as held indirectly with ownership described in accompanying footnotes.

The footnotes explain that the reported shares are held through entities including Vorini Holdings Inc., Akamas Maritime Inc., Chalkoessa Maritime Inc., Lefkoniko Maritime Inc., Kyperounta Maritime Inc., and Bellapais Maritime Inc. Hajioannou may be deemed a beneficial owner through these roles but expressly disclaims beneficial ownership except to the extent of any pecuniary interest.

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

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Hajioannou Polys

(Last) (First) (Middle)

APT. D11, LES ACANTHES

6, AVENUE DES CITRONNIERS

(Street)

MONACO MC98000

(City) (State) (Zip)

UNITED STATES

(Country)

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

3. Issuer Name and Ticker or Trading Symbol
SAFE BULKERS, INC. [ SB ]

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)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive 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)
Common Stock	19,426,015	I	See Footnotes(1)(2)
Common Stock	8,555,412	I	See Footnotes(1)(3)
Common Stock	5,400,000	I	See Footnotes(1)(4)
Common Stock	5,000,000	I	See Footnotes(1)(5)
Common Stock	5,000,000	I	See Footnotes(1)(6)
Common Stock	5,000,000	I	See Footnotes(1)(7)

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

Explanation of Responses:

1. Mr. Hajioannou disclaims any beneficial ownership of any of the equity securities of the Issuer reported on this Form 4 (the "Subject Securities"), except to the extent of any pecuniary interest therein.

2. These Subject Securities are held by Vorini Holdings Inc. ("Vorini"). Mr. Hajioannou is the President and Director of Vorini and may be deemed to be the beneficial owner of the Subject Securities held by Vorini for purposes of Rule 16a-1(a) under the Securities and Exchange Act of 1934, as amended ("Rule 16a-1(a)").

3. These Subject Securities are held by Akamas Maritime Inc. ("Akamas"). Mr. Hajioannou is the President and Director of Akamas and may be deemed to be the beneficial owner of the Subject Securities held by Akamas for purposes of Rule 16a-1(a).

4. These Subject Securities are held by Chalkoessa Maritime Inc. ("Chalkoessa"). Mr. Hajioannou is the President and Director of Chalkoessa and may be deemed to be the beneficial owner of the Subject Securities held by Chalkoessa for purposes of Rule 16a-1(a).

5. These Subject Securities are held by Lefkoniko Maritime Inc. ("Lefkoniko"). Mr. Hajioannou is the President and Director of Lefkoniko and may be deemed to be the beneficial owner of the Subject Securities held by Lefkoniko for purposes of Rule 16a-1(a).

6. These Subject Securities are held by Kyperounta Maritime Inc. ("Kyperounta"). Mr. Hajioannou is the President and Director of Kyperounta and may be deemed to be the beneficial owner of the Subject Securities held by Kyperounta for purposes of Rule 16a-1(a).

7. These Subject Securities are held by Bellapais Maritime Inc. ("Bellapais"). Mr. Hajioannou is the President and Director of Bellapais and may be deemed to be the beneficial owner of the Subject Securities held by Bellapais for purposes of Rule 16a-1(a).

Remarks:

EX-24 - Power of Attorney

	s/ Polys Hajioannou	03/18/2026
	** 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 does the Safe Bulkers (SB) Form 3 filing report for Polys Hajioannou?

The Form 3 reports Polys Hajioannou’s initial beneficial ownership of Safe Bulkers common stock. It lists several large indirect holdings through affiliated entities, reflecting his status as Chief Executive Officer, director, and more than ten percent owner of the company’s equity securities.

Are there any buy or sell transactions in this Safe Bulkers (SB) Form 3?

No purchases or sales are reported in this Form 3. The entries are holding records, showing indirect positions in Safe Bulkers common stock and the number of shares beneficially owned following these holdings, without any new transactions or price data disclosed in the filing.

How are Safe Bulkers (SB) shares held indirectly for Polys Hajioannou?

The filing states that the reported shares are held by entities such as Vorini Holdings, Akamas Maritime, Chalkoessa Maritime, Lefkoniko Maritime, Kyperounta Maritime, and Bellapais Maritime. Hajioannou is President and Director of these entities, which gives him deemed beneficial ownership under Rule 16a-1(a).

Does Polys Hajioannou claim full beneficial ownership of his Safe Bulkers (SB) holdings?

He expressly disclaims beneficial ownership of the reported equity securities, except to the extent of any pecuniary interest. This means he recognizes potential economic interest in the shares but does not claim full beneficial ownership beyond that economic stake, as clarified in the footnotes.

What types of holdings are shown in the Safe Bulkers (SB) Form 3 for Polys Hajioannou?

All reported positions are in Safe Bulkers common stock and are classified as indirect ownership. Each line shows the number of shares beneficially owned following the reported holdings, with no derivative securities or option positions listed in the derivative holdings section.