[Form 4] Gentherm Inc Insider Trading Activity

Rhea-AI Filing Summary

Amendment No. 4 to Schedule 13D updates the position of Diana Shipping Inc. in OceanPal Inc. (OP).

• Diana Shipping now holds 3,649,474 common shares plus 207 Series C preferred shares that are convertible, giving beneficial ownership of 3,789,348 shares.
• With 18,586,812 common shares outstanding, the economic stake equals 20.24 %; all voting and dispositive power is sole.
• The percentage fell versus prior filings because OceanPal’s share count rose and the Series C conversion price changed; no share sales were disclosed.
• Diana Shipping additionally owns 500,000 preferred voting shares that can deliver up to 34 % of total shareholder votes, limited to 49 % when combined with affiliates.
• The investment originated from a spin-off; the reporting person may buy, sell or convert further securities based on market and strategic factors.

No new contracts, legal actions, or other material items were reported.

Insights

Securities Analyst

TL;DR: Stake drops to 20.24 %, but control influence endures through preferred voting shares.

The filing signals modest dilution rather than divestment—Diana Shipping’s share count is unchanged, yet OceanPal’s outstanding shares increased, lowering ownership from prior levels. The 20 % economic stake still represents a blocking position for many corporate actions. Preferred voting shares capable of casting up to 34 % of all votes (capped at 49 % with affiliates) preserve significant control leverage. The amendment carries neutral valuation impact: no cash changes hands and no intent to dispose is stated, yet governance dynamics remain concentrated.

Corporate Governance Expert

TL;DR: Governance remains tightly held despite lower economic stake.

Although Diana Shipping’s percentage ownership fell, its voting structure—500 k preferred voting shares plus common stock—allows it to influence or block shareholder proposals. Minority investors should note the 49 % vote cap, which prevents outright majority but still affords practical control. The disclosure that the holder may trade or convert shares introduces future uncertainty, but no immediate governance changes are announced. Overall, material yet impact-neutral for power balance.

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).

1. Name and Address of Reporting Person^*

Sundaram Vishnu

(Last) (First) (Middle)

28875 CABOT DRIVE

(Street)

NOVI MI 48377

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Gentherm Inc [ THRM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Chief Technology Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/26/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)

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 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
Common Stock	09/26/2024		F		1,242	D	$47.27	16,581	D

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

Explanation of Responses:

	/s/ Stephanie Swan, by Power of Attorney	07/25/2025
	** 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.

FAQ

How many OceanPal (OP) shares does Diana Shipping now own?

Diana Shipping reports 3,789,348 beneficially owned shares, including common and convertible preferred stock.

What is Diana Shipping’s percentage ownership of OceanPal after this amendment?

Its stake is 20.24 % of the 18,586,812 common shares outstanding.

Why did the ownership percentage change if the share count stayed similar?

The decline resulted from an increase in OceanPal’s outstanding shares and a changed Series C conversion price, not share sales.

How much voting power can Diana Shipping exercise?

Through 500,000 preferred voting shares, it can cast votes equal to up to 34 % of total votes, capped at 49 % with affiliates.

Does Diana Shipping plan to buy or sell additional OceanPal securities?

The filing states it may acquire or dispose of shares based on market conditions and strategic considerations.