TOP SHIPS CEO discloses initial insider holdings
TOP SHIPS INC. director and President & CEO Evangelos Pistiolis filed an initial ownership report showing his equity interests.
Rhea-AI Filing Summary
TOP SHIPS INC. director and President & CEO Evangelos Pistiolis filed an initial ownership report showing his equity interests. He reports direct ownership of 440,711 common shares.
He also reports indirect interests in 2,930,718 common shares held through Family Trading Inc./3 Sororibus Trust, 100,000 Series D Preferred Shares via the Lax Trust, and 14,000 Series G Preferred Shares via Central Mare Inc. Mr. Pistiolis disclaims beneficial ownership of these indirect holdings except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Pistiolis Evangelos
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
| holding | Series D Preferred Shares | -- | -- | -- |
| holding | Series G Preferred Shares | -- | -- | -- |
Holdings After Transaction:
Common Stock, par value $0.01 per share — 440,711 shares (Direct);
Common Stock, par value $0.01 per share — 2,930,718 shares (Indirect, By 3 Sororibus Trust);
Series D Preferred Shares — 100,000 shares (Indirect, By Lax Trust);
Series G Preferred Shares — 14,000 shares (Indirect, By Central Mare Inc.)
Footnotes (3)
- F1. These Common Stock shares are held by Family Trading Inc. 3 Sororibus Trust is the sole shareholder of Family Trading Inc. and may be deemed to beneficially own all of the Common Stock shares beneficially owned by Family Trading Inc. 3 Sororibus Trust is an irrevocable trust established for the benefit of certain family members of the Reporting Person. The Reporting Person disclaims beneficial ownership of these shares of Common Stock except to the extent of his pecuniary interest therein, and the inclusion of these shares of Common Stock in this report shall not be deemed an admission of the beneficial ownership of such shares of Common Stock for purposes of Section 16 or for any other purpose.
- F2. These Series D Preferred Shares are held by the Lax Trust. The Lax Trust is an irrevocable trust established for the benefit of certain family members of the Reporting Person. The Reporting Person disclaims beneficial ownership of these Series D Preferred Shares except to the extent of his pecuniary interest therein, and the inclusion of these Series D Preferred Shares in this report shall not be deemed an admission of the beneficial ownership of such Series D Preferred Shares for purposes of Section 16 or for any other purpose.
- F3. These Series G Preferred Shares are held by Central Mare Inc. Central Mare Inc. is a company affiliated with the family of the Reporting Person. The Reporting Person disclaims beneficial ownership of these Series G Preferred Shares except to the extent of his pecuniary interest therein, and the inclusion of these Series G Preferred Shares in this report shall not be deemed an admission of the beneficial ownership of such Series G Preferred Shares for purposes of Section 16 or for any other purpose.
Key Figures
Direct common shares: 440,711 shares
Indirect common shares via Family Trading Inc./3 Sororibus Trust: 2,930,718 shares
Series D Preferred Shares via Lax Trust: 100,000 shares
+1 more
4 metrics
Direct common shares
440,711 shares
Common Stock held directly following the reported holdings
Indirect common shares via Family Trading Inc./3 Sororibus Trust
2,930,718 shares
Common Stock held indirectly through Family Trading Inc. and 3 Sororibus Trust
Series D Preferred Shares via Lax Trust
100,000 shares
Series D Preferred Shares held indirectly by the Lax Trust
Series G Preferred Shares via Central Mare Inc.
14,000 shares
Series G Preferred Shares held indirectly by Central Mare Inc.
Key Terms
beneficially own, irrevocable trust, beneficial ownership, pecuniary interest, +2 more
6 terms
beneficially own financial
"may be deemed to beneficially own all of the Common Stock shares"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
irrevocable trust financial
"3 Sororibus Trust is an irrevocable trust established for the benefit"
An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.
beneficial ownership financial
"shall not be deemed an admission of the beneficial ownership of such shares"
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.
pecuniary interest financial
"disclaims beneficial ownership of these shares of Common Stock except to the extent of his pecuniary interest"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How are trusts used in Evangelos Pistiolis' reported TOPS ownership structure?
The filing shows 3 Sororibus Trust and the Lax Trust as irrevocable family trusts holding common and preferred shares. They are established for certain family members, and Mr. Pistiolis states he disclaims beneficial ownership in these trust-held shares except for his pecuniary interest.
Does the TOPS Form 3 indicate any recent insider buying or selling activity?
The Form 3 functions as an initial ownership statement and lists existing direct and indirect holdings. It does not report explicit buy or sell transactions; instead, it details current positions in TOP SHIPS INC. securities associated with the reporting person and related entities.
AI-generated analysis. How Rhea-AI works. Not financial advice.
