Insider group at Safe Bulkers (NYSE: SB) reports 47.5% ownership in amended 13D

Rhea-AI Filing Summary

Safe Bulkers, Inc. received an amended Schedule 13D showing updated ownership and control by a long‑standing insider group. As of May 15, 2026, the reporting persons together beneficially owned 48,381,427 shares of common stock out of 101,826,580 shares outstanding, or about 47.5% of the company.

Vorini, Bellapais, Kyperounta, Lefkoniko, Akamas and Chalkoessa respectively hold 19,426,015, 5,000,000, 5,000,000, 5,000,000, 8,555,412 and 5,400,000 shares, each with sole voting and dispositive power. These entities are controlled or wholly owned by Polys Hajioannou, who may be deemed to have sole power over all 48,381,427 shares.

The amendment reflects a restructuring of family control under which Nicolaos Hadjioannou is no longer deemed to control Vorini and has ceased to be an indirect beneficial owner of more than five percent of the common stock. It also serves as an exit filing for Nicolaos Hadjioannou and Kition Holding Corp. A new joint filing agreement among the remaining reporting persons is included as an exhibit.

Key Figures

Group beneficial ownership: 48,381,427 shares Ownership percentage: 47.5% Shares outstanding: 101,826,580 shares +3 more

6 metrics

Group beneficial ownership 48,381,427 shares Aggregate shares beneficially owned by reporting persons as of May 15, 2026

Ownership percentage 47.5% Percent of Safe Bulkers common stock beneficially owned by reporting persons

Shares outstanding 101,826,580 shares Common stock issued and outstanding as of May 15, 2026

Vorini Holdings stake 19,426,015 shares Shares with sole voting and dispositive power held by Vorini

Akamas Maritime stake 8,555,412 shares Shares with sole voting and dispositive power held by Akamas

Chalkoessa Maritime stake 5,400,000 shares Shares with sole voting and dispositive power held by Chalkoessa

Key Terms

beneficially owned, sole voting power, sole dispositive power, exit filing, +2 more

6 terms

beneficially owned financial

"As of May 15, 2026, the Reporting Persons beneficially owned an aggregate of 48,381,427 shares of Common Stock."

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole voting power financial

"Vorini, Bellapais, Kyperounta, Lefkoniko, Akamas and Chalkoessa have sole power to vote or direct the vote of ... shares of Common Stock, respectively."

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"Vorini, Bellapais, Kyperounta, Lefkoniko, Akamas and Chalkoessa have ... the sole power to dispose or direct the disposition of ... shares of Common Stock, respectively."

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

exit filing regulatory

"This Amendment constitutes an exit filing for Nicolaos Hadjioannou and Kition Holding Corp. ("Kition")."

Joint Filing Agreement regulatory

"Exhibit 99.7 Joint Filing Agreement, dated as of May 18, 2026, among Vorini Holdings Inc., Polys Hajioannou, Bellapais Maritime Inc., Kyperounta Maritime Inc., Lefkoniko Maritime Inc., Akamas Maritime Inc., and Chalkoessa Maritime Inc."

Schedule 13D regulatory

"This Amendment No. 7 (the "Amendment No. 7") amends the Report on originally filed on November 25, 2013 (the "Original 13D"...)"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 7)

SAFE BULKERS, INC.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

Y7388L103

(CUSIP Number)

Ioannis Bertsis
Vorini Holdings Inc., Apt. No. D11, Les Acanthes 6 Avenue des
Citronniers, O9, MC98000
377 93 25 05 75

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

05/18/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): Y7388L103

1

Name of reporting person

Vorini Holdings Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

MARSHALL ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 19,426,015.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 19,426,015.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

19,426,015.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

19.1 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

This calculation is based on 101,826,580 shares of common stock, par value $0.001 (the "Common Stock") of Safe Bulkers, Inc. (the "Issuer") outstanding as of May 15, 2026.

SCHEDULE 13D

CUSIP Number(s): Y7388L103

1

Name of reporting person

Polys Hajioanno

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CYPRUS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 48,381,427.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 48,381,427.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

48,381,427.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

47.5 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

* Includes shares owned indirectly through Vorini Holdings Inc. ("Vorini"), which is controlled by Polys Hajioannou, and Bellapais Maritime Inc. ("Bellapais"), Kyperounta Maritime Inc. ("Kyperounta"), Lefkoniko Maritime Inc. ("Lefkoniko"), Akamas Maritime Inc. ("Akamas") and Chalkoessa Maritime Inc. ("Chalkoessa"), which are each wholly owned by Polys Hajioannou. This calculation is based on 101,826,580 shares of Common Stock outstanding as of May 15, 2026.

SCHEDULE 13D

CUSIP Number(s): Y7388L103

1

Name of reporting person

Bellapais Maritime Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

MARSHALL ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 5,000,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 5,000,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

5,000,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

* This calculation is based on 101,826,580 shares of Common Stock outstanding as of May 15, 2026.

SCHEDULE 13D

CUSIP Number(s): Y7388L103

1

Name of reporting person

Kyperounta Maritime Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

VIRGIN ISLANDS, BRITISH

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 5,000,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 5,000,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

5,000,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

* This calculation is based on 101,826,580 shares of Common Stock outstanding as of May 15, 2026.

SCHEDULE 13D

CUSIP Number(s): Y7388L103

1

Name of reporting person

Lefkoniko Maritime Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

VIRGIN ISLANDS, BRITISH

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 5,000,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 5,000,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

5,000,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

* This calculation is based on 101,826,580 shares of Common Stock outstanding as of May 15, 2026.

SCHEDULE 13D

CUSIP Number(s): Y7388L103

1

Name of reporting person

Akamas Maritime Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 8,555,412.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 8,555,412.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

8,555,412.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

8.4 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

* This calculation is based on 101,826,580 shares of Common Stock outstanding as of May 15, 2026.

SCHEDULE 13D

CUSIP Number(s): Y7388L103

1

Name of reporting person

Chalkoessa Maritime Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

MARSHALL ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 5,400,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 5,400,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

5,400,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.3 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

* This calculation is based on 101,826,580 shares of Common Stock outstanding as of May 15, 2026.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock
(b)	Name of Issuer: SAFE BULKERS, INC.
(c)	Address of Issuer's Principal Executive Offices: APT. D11, LES ACANTHES, 6, AVENUE DES CITRONNIERS, MONACO, MONACO , MC98000.
Item 1 Comment: This Amendment No. 7 (the "Amendment No. 7") amends the Report on Schedule 13D originally filed on November 25, 2013 (the "Original 13D", and as amended by Amendment No. 1 to Schedule 13D filed on December 24, 2013, Amendment No. 2 to Schedule 13D filed on December 15, 2014, Amendment No. 3 to Schedule 13D filed on December 12, 2016, Amendment No. 4 to Schedule 13D filed on December 11, 2017, Amendment No. 5 to Schedule 13D filed on November 22, 2019 and Amendment No. 6 to Schedule 13D filed on October 15, 2025, the "Amended 13D") by Vorini Holdings Inc. ("Vorini"), Polys Hajioannou, Bellapais Maritime Inc. ("Bellapais"), Kyperounta Maritime Inc. ("Kyperounta"), Lefkoniko Maritime Inc. ("Lefkoniko"), Akamas Maritime Inc. ("Akamas"), Chalkoessa Maritime Inc. ("Chalkoessa") (collectively, the "Reporting Persons"). Except as otherwise set forth herein, all items not addressed in this Amendment No.7 remain unchanged in the Amended 13D, and all Items set forth herein are intended to amend and update, as indicated, the corresponding Items of the Amended 13D.
Item 2.	Identity and Background
(a)	Item 2 is hereby amended and supplemented by the following: This Amendment constitutes an exit filing for Nicolaos Hadjioannou and Kition Holding Corp. ("Kition").
Item 4.	Purpose of Transaction
	Item 4 is hereby amended and supplemented by the following: Prior to the date hereof, as the result of restructuring of control among members of the family, Nicolaos Hadjioannou is no longer deemed to have the power to vote or direct the vote of (or the power to dispose or direct the disposition of) the shares of Common Stock owned directly by Vorini. Vorini is currently controlled by Polys Hajioannou.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5 is hereby amended and restated by the following: As of May 15, 2026, the Reporting Persons beneficially owned an aggregate of 48,381,427 shares of Common Stock. As of May 15, 2026, there were 101,826,580 shares of Common Stock issued and outstanding. Based on the foregoing, the 48,381,427 shares of Common Stock beneficially owned by the Reporting Persons represent approximately 47.5%. Vorini, Bellapais, Kyperounta, Lefkoniko, Akamas and Chalkoessa have sole power to vote or direct the vote of (and the sole power to dispose or direct the disposition of) 19,426,015, 5,000,000, 5,000,000, 5,000,000, 8,555,412 and 5,400,000 shares of Common Stock, respectively. By virtue of shares owned indirectly through Vorini, which is controlled by Polys Hajioannou, and Bellapais, Kyperounta, Lefkoniko, Akamas and Chalkoessa, which are each wholly owned by Polys Hajioannou, Polys Hajioannou may be deemed to have the sole power to vote or direct the vote of (and the sole power to dispose or direct the disposition of) 48,381,427 shares of Common Stock. The Reporting Persons are responsible for the completeness and accuracy of the information concerning the Reporting Persons contained herein. As of the date hereof, none of the Reporting Persons own any shares of Common Stock other than the Subject Shares covered in this statement on Schedule 13D.
(b)	The description in Item 5(a) above is incorporated herein by reference.
(c)	Within the last 60 days, no reportable transactions were effected by any Reporting Person.
(d)	No other person is known to the Reporting Persons to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock covered by this statement on Schedule 13D.
(e)	As of the date hereof, Nicolaos Hadjioannou ceased to be the indirect beneficial owner of more than five percent of the Common Stock.
Item 7.	Material to be Filed as Exhibits.
	Item 7 is hereby amended to add the following: Exhibit 99.7 Joint Filing Agreement, dated as of May 18, 2026, among Vorini Holdings Inc., Polys Hajioannou, Bellapais Maritime Inc., Kyperounta Maritime Inc., Lefkoniko Maritime Inc., Akamas Maritime Inc., and Chalkoessa Maritime Inc.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Vorini Holdings Inc.

Signature:	/s/ Polys Hajioannou
Name/Title:	Polys Hajioannou / President and Director
Date:	05/18/2026

Polys Hajioanno

Signature:	/s/ Polys Hajioannou
Name/Title:	Polys Hajioannou
Date:	05/18/2026

Bellapais Maritime Inc.

Signature:	/s/ Polys Hajioannou
Name/Title:	Polys Hajioannou / President and Director
Date:	05/18/2026

Kyperounta Maritime Inc.

Signature:	/s/ Polys Hajioannou
Name/Title:	Polys Hajioannou / President and Director
Date:	05/18/2026

Lefkoniko Maritime Inc.

Signature:	/s/ Polys Hajioannou
Name/Title:	Polys Hajioannou / President and Director
Date:	05/18/2026

Akamas Maritime Inc.

Signature:	/s/ Polys Hajioannou
Name/Title:	Polys Hajioannou / President and Director
Date:	05/18/2026

Chalkoessa Maritime Inc.

Signature:	/s/ Polys Hajioannou
Name/Title:	Polys Hajioannou / President and Director
Date:	05/18/2026

FAQ

What ownership stake do the reporting persons hold in Safe Bulkers (SB)?

The reporting group beneficially owns 48,381,427 Safe Bulkers shares, representing about 47.5% of the common stock. This is based on 101,826,580 shares outstanding as of May 15, 2026, giving the group significant influence over shareholder decisions.

How many Safe Bulkers (SB) shares are outstanding in this filing?

The filing states that 101,826,580 shares of Safe Bulkers common stock were issued and outstanding as of May 15, 2026. All percentage ownership figures in the amendment are calculated using this total share count as the denominator for the class.

Who controls the 47.5% insider stake reported for Safe Bulkers (SB)?

The 47.5% beneficial stake is attributed to entities controlled or wholly owned by Polys Hajioannou. Through Vorini Holdings and several maritime companies, he may be deemed to have sole voting and dispositive power over 48,381,427 Safe Bulkers common shares.

What change in control does this Safe Bulkers (SB) Schedule 13D/A report?

The amendment reports a restructuring of family control so Nicolaos Hadjioannou is no longer deemed to control Vorini’s shares. Vorini is now controlled by Polys Hajioannou, consolidating voting and dispositive power for the reporting group under his control.

Why is this Schedule 13D/A an exit filing for some Safe Bulkers (SB) holders?

The document states it constitutes an exit filing for Nicolaos Hadjioannou and Kition Holding Corp. Following the restructuring, Nicolaos ceased to be an indirect beneficial owner of more than five percent of Safe Bulkers common stock, triggering this disclosure update.

Which entities are included in the Safe Bulkers (SB) reporting group?

The reporting persons are Vorini Holdings Inc., Polys Hajioannou, Bellapais Maritime Inc., Kyperounta Maritime Inc., Lefkoniko Maritime Inc., Akamas Maritime Inc., and Chalkoessa Maritime Inc. They filed a new joint filing agreement dated May 18, 2026 covering their combined holdings.