Tsakos Energy Navigation (NYSE: TEN) CEO reports 1,000,000-share bona fide gift
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
TSAKOS ENERGY NAVIGATION LTD Chief Executive Officer Nikolaos Tsakos reported bona fide gifts of a total of 1,000,000 Common Shares on July 8, 2026, in two separate G-code transactions at a stated price of $0.00 per share. After these gifts, he reports 81,600 Common Shares held directly and additional indirect holdings through entities including Tsakos Energy Management Limited, Methoni Shipping Company Limited, Sea Consolidation S.A. of Panama, and Intermed Champion S.A. of Panama, while generally disclaiming beneficial ownership beyond any pecuniary interest.
Positive
- None.
Negative
- None.
Insights
CEO reported non-market gifts of 1,000,000 shares, retaining meaningful indirect holdings.
CEO Nikolaos Tsakos reported two G-code bona fide gifts totaling 1,000,000 Common Shares on July 8, 2026. The stated transaction price was $0.00 per share, indicating non-market transfers with no sale proceeds.
Following the gifts, he holds 81,600 shares directly and reports indirect holdings of 575,000 via Tsakos Energy Management Limited, 1,448,702 via Methoni Shipping Company Limited, 1,550,000 via Sea Consolidation S.A. of Panama, and 918,500 via Intermed Champion S.A. of Panama. Footnotes state he may be deemed to beneficially own these indirect positions but disclaims beneficial ownership except to the extent of any pecuniary interest.
Insider Trade Summary
1,000,000 shares gifted
Mixed
6 txns
Insider
TSAKOS NIKOLAOS
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Shares | 500,000 | $0.00 | -- |
| Gift | Common Shares | 500,000 | $0.00 | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Common Shares — 81,600 shares (Direct, null);
Common Shares — 500,000 shares (Indirect, By spouse)
Footnotes (1)
- Tsakos Energy Management Limited ("TEM") effected a transfer to the Reporting Person of 500,000 shares, which such transfer was effected in accordance with Rule 16a-13 of the Securities Exchange Act of 1934, as amended. Shares held by Intermed Champion S.A. of Panama ("Intermed"). The Reporting Person has or shares voting and dispositive power with respect to the shares held by Intermed and may be deemed to beneficially own such securities by virtue of such relationship. The Reporting Person disclaims beneficial ownership of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose. Shares held by Sea Consolidation S.A. of Panama ("Sea Consolidation"). The Reporting Person controls Sea Consolidation and may be deemed to beneficially own the securities held by Sea Consolidation by virtue of such control. The Reporting Person disclaims beneficial ownership of such securities for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose. Shares held by Methoni Shipping Company Limited ("Methoni"). The Reporting Person has or shares voting and dispositive power with respect to the shares held by Methoni and may be deemed to beneficially own such securities by virtue of such relationship. The Reporting Person disclaims beneficial ownership of such securities for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose. Shares held by TEM. The Reporting Person controls TEM and may be deemed to beneficially own the securities held by TEM by virtue of such control. The Reporting Person disclaims beneficial ownership of such securities for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose.
Key Figures
Total gifted shares: 1,000,000 Common Shares
Gift transaction size: 500,000 Common Shares
Gift transaction price: $0.00 per share
+5 more
8 metrics
Total gifted shares
1,000,000 Common Shares
Two G-code bona fide gift transactions on July 8, 2026
Gift transaction size
500,000 Common Shares
Each of the two bona fide gift transactions
Gift transaction price
$0.00 per share
Reported price for both bona fide gift transactions
Direct holdings after transaction
81,600 Common Shares
Shares held directly by Nikolaos Tsakos following the gifts
Indirect holdings via Tsakos Energy Management Limited
575,000 Common Shares
Total shares reported as held by Tsakos Energy Management Limited
Indirect holdings via Methoni Shipping Company Limited
1,448,702 Common Shares
Total shares reported as held by Methoni Shipping Company Limited
Indirect holdings via Sea Consolidation S.A. of Panama
1,550,000 Common Shares
Total shares reported as held by Sea Consolidation S.A. of Panama
Indirect holdings via Intermed Champion S.A. of Panama
918,500 Common Shares
Total shares reported as held by Intermed Champion S.A. of Panama
Key Terms
bona fide gift, Rule 16a-13, pecuniary interest, dispositive power, +1 more
5 terms
bona fide gift financial
"transaction_code_description: "Bona fide gift" for the G-code entries"
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
Rule 16a-13 regulatory
"transfer was effected in accordance with Rule 16a-13 of the Securities Exchange Act"
pecuniary interest financial
"disclaims beneficial ownership except to the extent of his pecuniary interest therein"
dispositive power financial
"has or shares voting and dispositive power with respect to the shares held"
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
beneficial ownership financial
"may be deemed to beneficially own such securities by virtue of such relationship"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
What did TEN CEO Nikolaos Tsakos report in this Form 4 filing?
CEO Nikolaos Tsakos reported two bona fide gifts of TEN Common Shares totaling 1,000,000 shares on July 8, 2026, recorded at a transaction price of $0.00 per share.
What is the significance of Rule 16a-13 mentioned in the TEN Form 4 footnotes?
A footnote explains that Tsakos Energy Management Limited transferred 500,000 shares to Nikolaos Tsakos in a manner described as in accordance with Rule 16a-13 under the Exchange Act.