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OceanPal Inc. (SVRN) director gives up Series C preferred stake

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

OceanPal Inc. director Nikolaos Veraros reported a disposition to the issuer of 397 8% Series C Cumulative Convertible Perpetual Preferred Shares on July 31, 2026. These were transferred to OceanPal for cancellation and were tied to 634489 underlying common shares. After this transaction he beneficially owns no securities of the company.

Positive

  • None.

Negative

  • None.
Insider Veraros Nikolaos
Role Director
Type Security Shares Price Value
Disposition 8% Series C Cum. Con. Perpetual Preferred Shares F1 397 -- --
Holdings After Transaction: 8% Series C Cum. Con. Perpetual Preferred Shares — 0 shares (Direct)
Footnotes (1)
  1. F1. On July 31, 2026, the Reporting Person transferred all of his Series C Preferred Shares to the Issuer for cancellation. Following the transaction, the Reporting Person no longer beneficially owns any securities of the Issuer.
Series C preferred shares disposed 397.0000 shares Transferred to issuer for cancellation on July 31, 2026
Underlying common shares 634489.0000 shares Underlying security tied to the Series C preferred disposition
Holdings after transaction 0.0000 securities Reporting person no longer beneficially owns any securities of OceanPal Inc.
8% Series C Cum. Con. Perpetual Preferred Shares financial
"Security title: 8% Series C Cum. Con. Perpetual Preferred Shares"
Disposition to issuer financial
"Transaction code description: Disposition to issuer"
beneficially owns financial
"no longer beneficially owns any securities of the Issuer"
Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What insider transaction did OceanPal Inc. (SVRN) disclose for Nikolaos Veraros?
Nikolaos Veraros disposed of 397 8% Series C Cumulative Convertible Perpetual Preferred Shares to OceanPal on July 31, 2026. The shares were transferred to the issuer for cancellation, and he now reports no beneficial ownership of any OceanPal securities.

How many Series C preferred shares were transferred in the OceanPal (SVRN) Form 4?
The Form 4 reports a transfer of 397 8% Series C Cumulative Convertible Perpetual Preferred Shares by director Nikolaos Veraros. These preferred shares were delivered to OceanPal Inc. for cancellation rather than sold on the open market.

What common stock underlies the preferred shares in OceanPal (SVRN)'s insider transaction?
The 397 Series C preferred shares were linked to 634489 underlying OceanPal common shares. The disposition to the issuer for cancellation removed both the preferred shares and their associated common share convertibility from Veraros’s reported holdings.

Does Nikolaos Veraros still beneficially own OceanPal Inc. (SVRN) securities after this transaction?
No. The filing states that, following the transaction, Veraros no longer beneficially owns any securities of OceanPal Inc. This reflects the full transfer of his Series C preferred shares to the issuer for cancellation.

Was the OceanPal (SVRN) insider transaction made under a Rule 10b5-1 trading plan?
No. The Form 4’s Rule 10b5-1 checkbox is not marked as a plan transaction for this disposition. The filing does not describe the transfer of the Series C preferred shares as being executed under a pre-arranged trading plan.
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Veraros Nikolaos
(Last)(First)(Middle)
PENDELIS 26, PALAIO FALIRO
(Street)
ATHENS175 64
(City)(State)(Zip)
GREECE
(Country)		2. Issuer Name and Ticker or Trading Symbol
OceanPal Inc. [ SVRN ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/31/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
8% Series C Cum. Con. Perpetual Preferred Shares(1)07/31/2026D397 (1) (1)Common Stock634,489(1)0D
Explanation of Responses:
1. On July 31, 2026, the Reporting Person transferred all of his Series C Preferred Shares to the Issuer for cancellation. Following the transaction, the Reporting Person no longer beneficially owns any securities of the Issuer.
/s/ Nikolaos Veraros08/04/2026
** Signature of Reporting PersonDate
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 4 (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 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR