OceanPal (NASDAQ: SVRN) director surrenders Series C preferred

Rhea-AI Filing Summary

OceanPal Inc. director Eleftherios Papatrifon reported a disposition of all his 8% Series C Cumulative Convertible Perpetual Preferred Shares. On July 31, 2026, he transferred 2,084 Series C preferred shares to OceanPal for cancellation, eliminating 3,330,669 underlying common shares. Following this transaction, he beneficially owns 23,529 shares of OceanPal common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Papatrifon Eleftherios

Role Director

Type	Security	Shares	Price	Value
Disposition	8% Series C Cum. Con. Perpetual Preferred Shares F1	2,084	--	--

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 beneficially owns 23,529 shares of Common Stock of the Issuer.

Key Figures

Series C preferred shares disposed: 2,084 shares Underlying common shares linked to preferred: 3,330,669 shares Common shares owned after transaction: 23,529 shares +1 more

4 metrics

Series C preferred shares disposed 2,084 shares Transferred to OceanPal for cancellation on July 31, 2026

Underlying common shares linked to preferred 3,330,669 shares Common stock underlying the 2,084 Series C preferred shares

Common shares owned after transaction 23,529 shares Beneficial ownership of OceanPal common stock following the disposition

Transaction date July 31, 2026 Date the preferred shares were transferred to the issuer for cancellation

Key Terms

8% Series C Cum. Con. Perpetual Preferred Shares, Disposition to issuer, beneficially owns, cancellation

4 terms

8% Series C Cum. Con. Perpetual Preferred Shares financial

"security_title: 8% Series C Cum. Con. Perpetual Preferred Shares"

Disposition to issuer financial

"transaction_action is described as issuer disposition, transaction_code D"

beneficially owns financial

"the Reporting Person beneficially owns 23,529 shares of Common Stock"

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.

cancellation financial

"transferred all of his Series C Preferred Shares to the Issuer for cancellation"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/04/2026 - 04:46 PM Accepted by SEC EDGAR 08/04/2026 - 04:45 PM Learn about SEC filing dates

FAQ

What insider transaction did OceanPal (SVRN) director Eleftherios Papatrifon report?

Eleftherios Papatrifon reported a disposition to the issuer of all his 8% Series C Cumulative Convertible Perpetual Preferred Shares. He transferred these preferred shares to OceanPal for cancellation, removing their associated conversion rights into common stock.

How many Series C preferred shares did the OceanPal (SVRN) director transfer?

He transferred 2,084 8% Series C Cumulative Convertible Perpetual Preferred Shares to OceanPal. These preferred shares were returned to the issuer for cancellation, ending his ownership of this entire preferred position.

What common stock did the OceanPal (SVRN) preferred shares represent?

The 2,084 Series C preferred shares corresponded to 3,330,669 underlying shares of common stock. By transferring the preferred shares for cancellation, the associated conversion into common stock is no longer available to the reporting person.

What is Eleftherios Papatrifon’s OceanPal (SVRN) common share ownership after the transaction?

After the disposition and cancellation of his preferred shares, Eleftherios Papatrifon beneficially owns 23,529 shares of OceanPal common stock. This figure reflects his post‑transaction direct beneficial ownership as described in the footnote.

When did the OceanPal (SVRN) preferred share disposition occur?

The transfer of the Series C preferred shares took place on July 31, 2026. On that date, all 2,084 preferred shares were delivered to OceanPal for cancellation, and his resulting common stock holdings were specified in the filing.

Was the OceanPal (SVRN) transaction a market sale or an issuer-related disposition?

The transaction was a disposition to the issuer, not a market sale. The director transferred his Series C preferred shares back to OceanPal for cancellation, as indicated by the Form 4 transaction code D and accompanying footnote.

SEC Form 4

FORM 4

UNITED 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^*

Papatrifon Eleftherios

(Last) (First) (Middle)

PENDELIS 16

PALAIO FALIRO

(Street)

ATHENS 175 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)

X	Director		10% 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)

X	Form 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)
			Code	V	Amount	(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
8% Series C Cum. Con. Perpetual Preferred Shares	(1)	07/31/2026		D			2,084	(1)	(1)	Common Stock	3,330,669	(1)	0	D

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 beneficially owns 23,529 shares of Common Stock of the Issuer.

	/s/ Eleftherios Papatrifon	08/04/2026
	** 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 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)