-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BSLy9VitLZZZqqL9uhjqR28GSQdPQaQmFVbgCq1sXvONNlsAUArpFw89CRWe0NLC vf/99RvldrogS1eZy7PlBw== 0000950123-03-004410.txt : 20030417 0000950123-03-004410.hdr.sgml : 20030417 20030417160141 ACCESSION NUMBER: 0000950123-03-004410 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20030417 GROUP MEMBERS: ARIEL RECANATI GROUP MEMBERS: DANIEL PEARSON GROUP MEMBERS: DIANE RECANATI GROUP MEMBERS: LEON RECANAT GROUP MEMBERS: MICHAEL RECANATI GROUP MEMBERS: THE MICHAEL RECANATI TRUST GROUP MEMBERS: YUDITH YOVEL RECANAT SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: OVERSEAS SHIPHOLDING GROUP INC CENTRAL INDEX KEY: 0000075208 STANDARD INDUSTRIAL CLASSIFICATION: DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412] IRS NUMBER: 132637623 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-10333 FILM NUMBER: 03654414 BUSINESS ADDRESS: STREET 1: 511 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2122511153 MAIL ADDRESS: STREET 1: 511 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: RECANATI OUDI CENTRAL INDEX KEY: 0001112429 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: C/O IDB HOLDING CORP STREET 2: 3 DANIEL FRISCH STREET THE TOWER CITY: TEL AVIV ISRAEL BUSINESS PHONE: 2129694412 MAIL ADDRESS: STREET 1: C/O IDB HOLDING CORP STREET 2: 3 DANIEL FRISCH STREET THE TOWER CITY: TEL AVIV ISREAL SC 13D/A 1 y85615sc13dza.txt AMENDMENT NO. 8 TO SCHEDULE 13D ----------------------------- OMB APPROVAL ----------------------------- OMB Number: 3235-0145 Expires: October 31, 1997 Estimated Average Burden hours per response .... 14.90 ----------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------------ SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 8) OVERSEAS SHIPHOLDING GROUP, INC. - -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK, PAR VALUE $0.01 PER SHARE - -------------------------------------------------------------------------------- (Title of Class of Securities) 690368 10 5 - -------------------------------------------------------------------------------- (CUSIP Number) HOWARD S. KELBERG, ESQ., MILBANK, TWEED, HADLEY & McCLOY LLP 1 CHASE MANHATTAN PLAZA, NEW YORK NEW YORK 10005 (212) 530-5000 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) APRIL 16, 2003 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ] Check the following box if a fee is being paid with this statement [ ]. (A fee is not required only if the filing person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) Page 1 of 13 SCHEDULE 13D - --------------------- ------------------ CUSIP NO. 690368 10 5 PAGE 2 OF 13 PAGES - --------------------- ------------------ - -------------------------------------------------------------------------------- NAME OF REPORTING PERSONS Oudi Recanati S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS 1 - -------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b) [X] 2 - -------------------------------------------------------------------------------- SEC USE ONLY 3 - -------------------------------------------------------------------------------- SOURCE OF FUNDS* 4 NA - -------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] 5 - -------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION Israel 6 - -------------------------------------------------------------------------------- SOLE VOTING POWER 7 9,500** ----------------------------------------------------- SHARED VOTING POWER NUMBER OF SHARES 8 5,206,610 BENEFICIALLY ----------------------------------------------------- OWNED BY SOLE DISPOSITIVE POWER EACH REPORTING 9 9,500** PERSON WITH ----------------------------------------------------- SHARED DISPOSITIVE POWER 10 4,674,141 - -------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON 11 5,216,110 - -------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] 12 - -------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 15.1% - -------------------------------------------------------------------------------- TYPE OF REPORTING PERSON* 14 IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. - --------------------------- ** Relates solely to options held by the reporting person. Page 2 of 13 SCHEDULE 13D - --------------------- ------------------ CUSIP NO. 690368 10 5 PAGE 3 OF 13 PAGES - --------------------- ------------------ - -------------------------------------------------------------------------------- NAME OF REPORTING PERSONS Diane Recanati S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS 1 - -------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b) [X] 2 - -------------------------------------------------------------------------------- SEC USE ONLY 3 - -------------------------------------------------------------------------------- SOURCE OF FUNDS* 4 NA - -------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] 5 - -------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION United Kingdom 6 - -------------------------------------------------------------------------------- SOLE VOTING POWER 7 ----------------------------------------------------- SHARED VOTING POWER NUMBER OF SHARES 8 4,904,807 BENEFICIALLY ----------------------------------------------------- OWNED BY SOLE DISPOSITIVE POWER EACH REPORTING 9 532,469 PERSON WITH ----------------------------------------------------- SHARED DISPOSITIVE POWER 10 4,372,338 - -------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON 11 4,904,807 - -------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] 12 - -------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 14.2% - -------------------------------------------------------------------------------- TYPE OF REPORTING PERSON* 14 IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. Page 3 of 13 SCHEDULE 13D - --------------------- ------------------ CUSIP NO. 690368 10 5 PAGE 4 OF 13 PAGES - --------------------- ------------------ - -------------------------------------------------------------------------------- NAME OF REPORTING PERSONS Ariel Recanati S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS 1 - -------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b) [X] 2 - -------------------------------------------------------------------------------- SEC USE ONLY 3 - -------------------------------------------------------------------------------- SOURCE OF FUNDS* 4 NA - -------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] 5 - -------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION United States 6 - -------------------------------------------------------------------------------- SOLE VOTING POWER 7 206,600** ----------------------------------------------------- SHARED VOTING POWER NUMBER OF SHARES 8 4,904,807 BENEFICIALLY ----------------------------------------------------- OWNED BY SOLE DISPOSITIVE POWER EACH REPORTING 9 206,600** PERSON WITH ----------------------------------------------------- SHARED DISPOSITIVE POWER 10 4,372,338 - -------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON 11 5,111,407 - -------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] 12 - -------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 14.7% - -------------------------------------------------------------------------------- TYPE OF REPORTING PERSON* 14 IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. - --------------------------- ** Relates solely to options held by the reporting person. Page 4 of 13 SCHEDULE 13D - --------------------- ------------------ CUSIP NO. 690368 10 5 PAGE 5 OF 13 PAGES - --------------------- ------------------ - -------------------------------------------------------------------------------- NAME OF REPORTING PERSONS Leon Recanati S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS 1 - -------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b) [X] 2 - -------------------------------------------------------------------------------- SEC USE ONLY 3 - -------------------------------------------------------------------------------- SOURCE OF FUNDS* 4 NA - -------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] 5 - -------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION Israel 6 - -------------------------------------------------------------------------------- SOLE VOTING POWER 7 ----------------------------------------------------- SHARED VOTING POWER NUMBER OF SHARES 8 5,206,610 BENEFICIALLY ----------------------------------------------------- OWNED BY SOLE DISPOSITIVE POWER EACH REPORTING 9 PERSON WITH ----------------------------------------------------- SHARED DISPOSITIVE POWER 10 4,674,141 - -------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON 11 5,206,610 - -------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] 12 - -------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 15.1% - -------------------------------------------------------------------------------- TYPE OF REPORTING PERSON* 14 IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. Page 5 of 13 SCHEDULE 13D - --------------------- ------------------ CUSIP NO. 690368 10 5 PAGE 6 OF 13 PAGES - --------------------- ------------------ - -------------------------------------------------------------------------------- NAME OF REPORTING PERSONS Yudith Yovel Recanati S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS 1 - -------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b) [X] 2 - -------------------------------------------------------------------------------- SEC USE ONLY 3 - -------------------------------------------------------------------------------- SOURCE OF FUNDS* 4 NA - -------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] 5 - -------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION Israel 6 - -------------------------------------------------------------------------------- SOLE VOTING POWER 7 ----------------------------------------------------- SHARED VOTING POWER NUMBER OF SHARES 8 5,206,610 BENEFICIALLY ----------------------------------------------------- OWNED BY SOLE DISPOSITIVE POWER EACH REPORTING 9 PERSON WITH ----------------------------------------------------- SHARED DISPOSITIVE POWER 10 4,674,141 - -------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON 11 5,206,610 - -------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] 12 - -------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 15.1% - -------------------------------------------------------------------------------- TYPE OF REPORTING PERSON* 14 IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. Page 6 of 13 SCHEDULE 13D - --------------------- ------------------ CUSIP NO. 690368 10 5 PAGE 7 OF 13 PAGES - --------------------- ------------------ - -------------------------------------------------------------------------------- NAME OF REPORTING PERSONS The Michael Recanati Trust S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS 1 - -------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b) [X] 2 - -------------------------------------------------------------------------------- SEC USE ONLY 3 - -------------------------------------------------------------------------------- SOURCE OF FUNDS* 4 NA - -------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] 5 - -------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION Alaska 6 - -------------------------------------------------------------------------------- SOLE VOTING POWER 7 ----------------------------------------------------- SHARED VOTING POWER NUMBER OF SHARES 8 4,778,427 BENEFICIALLY ----------------------------------------------------- OWNED BY SOLE DISPOSITIVE POWER EACH REPORTING 9 PERSON WITH ----------------------------------------------------- SHARED DISPOSITIVE POWER 10 4,245,958 - -------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON 11 4,778,427 - -------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] 12 - -------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 13.9% - -------------------------------------------------------------------------------- TYPE OF REPORTING PERSON* 14 OO - Trust - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. Page 7 of 13 SCHEDULE 13D - --------------------- ------------------ CUSIP NO. 690368 10 5 PAGE 8 OF 13 PAGES - --------------------- ------------------ - -------------------------------------------------------------------------------- NAME OF REPORTING PERSONS Michael Recanati, as trustee of The Michael Recanati Trust S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS 1 - -------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ] (b) [X] 2 - -------------------------------------------------------------------------------- SEC USE ONLY 3 - -------------------------------------------------------------------------------- SOURCE OF FUNDS* 4 NA - -------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] 5 - -------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION United States 6 - -------------------------------------------------------------------------------- SOLE VOTING POWER 7 ----------------------------------------------------- SHARED VOTING POWER NUMBER OF SHARES 8 4,904,807 BENEFICIALLY ----------------------------------------------------- EACH SOLE DISPOSITIVE POWER REPORTING PERSON WITH 9 ----------------------------------------------------- SHARED DISPOSITIVE POWER 10 4,372,338 - -------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON 11 4,904,807 - -------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] 12 - -------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 14.2% - -------------------------------------------------------------------------------- TYPE OF REPORTING PERSON* 14 IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. Page 8 of 13 SCHEDULE 13D - ---------------------- ------------------ CUSIP NO. 690368 10 5 PAGE 9 OF 13 PAGES - ---------------------- ------------------ - -------------------------------------------------------------------------------- NAME OF REPORTING PERSONS Daniel Pearson, as trustee of The Michael Recanati Trust S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS 1 - -------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] 2 - -------------------------------------------------------------------------------- SEC USE ONLY 3 - -------------------------------------------------------------------------------- SOURCE OF FUNDS* 4 NA - -------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] 5 - -------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION United States 6 - -------------------------------------------------------------------------------- SOLE VOTING POWER 7 ----------------------------------------------------- SHARED VOTING POWER 8 4,778,427 ----------------------------------------------------- NUMBER OF SOLE DISPOSITIVE POWER SHARES BENEFICIALLY 9 OWNED BY ----------------------------------------------------- EACH SHARED DISPOSITIVE POWER REPORTING PERSON WITH 10 4,245,958 - -------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON 11 4,778,427 - -------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] 12 - -------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 13.9% - -------------------------------------------------------------------------------- TYPE OF REPORTING PERSON* 14 IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. Page 9 of 13 Item 2. Identity and Background. The following amends Item 2 of the Statement on Schedule 13D, as amended from time to time, initially filed by Raphael Recanati, who is deceased: (a) Name (b) Residence or business address (c) Present Principal Occupation The Michael Recanati Trust A trust for the benefit of Michael Recanati and other discretionary beneficiaries c/o Michael Recanati and Daniel Pearson, as Investment Trustees 590 Fifth Avenue 19th Floor (between 47 & 48th street) New York, NY 10036 Michael Recanati, as trustee of The Michael Recanati Trust Retired 590 Fifth Avenue 19th Floor (between 47 & 48th street) New York, NY 10036 Daniel Pearson, as trustee of The Michael Recanati Trust Daniel Pearson disclaims beneficial ownership of the Common Stock held by The Michael Recanati Trust Executive Vice President of 511 Equities Corp. 590 Fifth Avenue 19th Floor (between 47 & 48th street) New York, NY 10036 Mrs. Diane Recanati is the mother of Mr. Oudi Recanati and Mr. Michael Recanati and the aunt of Mr. Leon Recanati and Mrs. Yudith Yovel Recanati, who are brother and sister, and Mr. Ariel Recanati. Page 10 of 13 (d) and (e) None of the filing persons, during the last five years, has been convicted in a criminal proceeding or subject to any judgment, decree or final order referred to in Items 2(d) and (e) (f) Citizenship The Michael Recanati Trust is located in the state of Alaska. Michael Recanati is a citizen of United States. Daniel Pearson is a citizen of United States. The following amends Items 5 and 6 of the Statement on Schedule 13D, as amended from time to time, initially filed by Raphael Recanati. Under an Amended and Restated Stockholders Agreement, dated as of April 16, 2003 (the "Stockholders Agreement"), by and among Diane Recanati, Oudi Recanati, Leon Recanati, Yudith Yovel Recanati, Ariel Recanati, Leon (Lenny) Recanati, David Recanati, SEAVIEW Trust and The Michael Recanati Trust (the "Stockholders"), each of Diane, Oudi, Leon, Yudith, Ariel Recanati and The Michael Recanati Trust may be deemed to share the power to vote and (subject to the exception for the shares held by Diane Recanati, as described below) dispose of 4,778,427 shares of Common Stock (the "Subject Shares"). The purpose of the Stockholders Agreement is to make provision for the voting, transfer and possible sale of the Subject Shares. The Stockholders Agreement, except as to 532,469 shares held by Diane Recanati, provides for restrictions on transfers, except to permitted transferees (Recanati family members, Recanati family trusts and the Recanati Foundation). The Stockholders Agreement, except as otherwise directed by a majority vote of the shares owned by the members of the Family Management Committee, requires the Subject Shares to be voted in support of proposals by management of the Issuer. In addition, Oudi, Leon and Yudith Recanati may be deemed to share the power to vote and dispose of 301,803 shares of Common Stock, through a company controlled indirectly by members of the Recanati family. Also, Diane, Oudi, Leon, Yudith Yovel, Ariel and Michael Recanati, by virtue of their positions as directors and officers of the Recanati Foundation, may be deemed to share the power to vote and dispose of 126,380 shares of Common Stock through the Recanati Foundation. Page 11 of 13 Oudi Recanati holds options for 9,500 shares of Common Stock under the Issuer's Non-Employee Directors Stock Option Plan. Ariel Recanati beneficially owns 206,600 shares issuable upon the exercise of employee options granted by the Issuer. Item 7. Material to Be Filed as Exhibits Exhibit A: Amended and Restated Stockholders Agreement, dated as of April 16, 2003 Exhibit B: Joint Filing Agreement, dated as of April 16, 2003 After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Page 12 of 13 April 16, 2003 /s/ Diane Recanati - -------------- ------------------ Date Signature Diane Recanati April 16, 2003 /s/ Oudi Recanati - -------------- ----------------- Date Signature Oudi Recanati April 16, 2003 /s/ Leon Recanati - -------------- ----------------- Date Signature Leon Recanati April 16, 2003 /s/ Yudith Yovel Recanati - -------------- ------------------------- Date Signature Yudith Yovel Recanati April 16, 2003 /s/ Ariel Recanati - --------------- ------------------ Date Signature Ariel Recanati The Michael Recanati Trust April 16, 2003 /s/ Daniel Pearson - -------------- ------------------ Date Signature Daniel Pearson, Investment Trustee /s/ Michael Recanati -------------------- Signature Michael Recanati, Investment Trustee April 16, 2003 /s/ Michael Recanati - -------------- -------------------- Date Signature Michael Recanati, as Investment Trustee of The Michael Recanati Trust April 16, 2003 /s/ Daniel Pearson - -------------- ------------------ Date Signature Daniel Pearson, as Investment Trustee of The Michael Recanati Trust Page 13 of 13 EX-99.A 3 y85615exv99wa.txt AMENDED AND RESTATED STOCKHOLDERS AGREEMENT EXHIBIT A AMENDED AND RESTATED STOCKHOLDERS AGREEMENT, dated as of April 16, 2003 (this "Agreement"), by and among Diane Recanati ("Diane"), Oudi Recanati ("Oudi"), Leon Recanati ("Leon"), Yudith Yovel Recanati ("Yudith"), Ariel Recanati ("Ariel"), Leon (Lenny) Recanati ("Lenny"), David Recanati ("David"), the SEAVIEW Trust ("SEAVIEW") and The Michael Recanati Trust (the "MR Trust") (the "Stockholders"). WHEREAS, Diane, Oudi, Leon, Yudith and Ariel entered into a Stockholders Agreement, dated as of November 24, 1999 (the "Original Stockholders Agreement"); WHEREAS, the Stockholders wish to amend and restate that certain Original Stockholders Agreement pursuant to the terms of this Agreement; WHEREAS, the Stockholders are the holders, both directly and indirectly, of certain shares of common stock, $1.00 par value, of Overseas Shipholding Group, Inc., a Delaware corporation (such corporation, together with any "Successor Entity," being herein referred to as the "Company") (such shares of common stock, together with (i) all shares of common stock or other equity securities issued in exchange or substitution for or as a dividend or distribution on such shares of common stock, including without limitation shares of common stock or other equity securities of any Successor Entity referred to in Paragraph 3 below and (ii) any additional shares hereinafter acquired, whether held directly or indirectly, being herein referred to as the "Shares"; provided, however, that such term shall not include shares (a) received by a Stockholder in his/her capacity as an officer, director, employee or consultant of the Company, (b) held indirectly through the Recanati Foundation or (c) held indirectly through York Shipping Corporation); and WHEREAS, the Stockholders desire to make provision for the voting, transfer and possible sale of the Shares and for the other matters set forth herein. NOW, THEREFORE, in consideration of the mutual premises and of the mutual covenants and obligations hereinafter set forth, the parties hereto, intending to be legally bound, hereby agree as follows: 1. Restrictions on Transfer of Share; Etc. (a) The Stockholders hereby agree that, except for transfers to such permitted transferees as may be agreed to from time to time by the Stockholders and as provided under Paragraph 3 below, no Shares shall be directly or indirectly sold, assigned, transferred, pledged or otherwise encumbered or disposed of, including without limitation as a result of the sale, assignment, transfer, pledge or other encumbrance or disposition of any interest in any entity directly or indirectly owning the Shares (any of the foregoing, a "Prohibited Transfer"). (b) The Stockholders agree and acknowledge that any attempted Prohibited Transfer in violation of the terms and conditions of this Agreement shall be void ab initio, and that the Stockholders shall not engage in a Prohibited Transfer or agree to engage in a Prohibited Transfer of any Shares held by the Stockholders in violation of this Agreement. (c) Except as specifically contemplated hereby, no Stockholder shall directly or indirectly (i) grant any proxy or enter into or agree to be bound by any voting trust or agreement with respect to any Shares, or (ii) enter into any agreements or arrangements of any 2 kind with any person or entity with respect to any Shares inconsistent with the provisions of this Agreement. (d) The Stockholders shall cause to be affixed to each certificate evidencing their Shares a legend in substantially the following form: THE SECURITIES EVIDENCED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AS SET FORTH IN AN AMENDED AND RESTATED STOCKHOLDERS AGREEMENT, DATED AS OF APRIL 16, 2003, A COPY OF WHICH IS ON FILE AT DISCOUNT BANK & TRUST CO. (OR AT ANY SUCCESSOR TO DISCOUNT BANK & TRUST CO.), AT ITS PRINCIPAL OFFICE IN GENEVA, SWITZERLAND (OR AT THE PRINCIPAL OFFICE OF ANY SUCH SUCCESSOR). THE HOLDER OF THESE SECURITIES AGREES AND ACKNOWLEDGES THAT NO REGISTRATION OF THE TRANSFER OF SUCH SECURITIES WILL BE MADE ON THE BOOKS OF THE ISSUER UNLESS AND UNTIL SUCH RESTRICTION SHALL HAVE BEEN COMPLIED WITH. 2. Family Management Committee; Voting of Shares; Etc. (a) The Stockholders hereby appoint Diane, Oudi, Leon, Yudith, Ariel and Michael Recanati ("Michael") as the members (the "Members") of the family management committee (the "Family Management Committee"). (b) Other than in the case of any vote relating to a Sale as contemplated in Paragraph 3(b) below (in which case all Shares shall be voted in accordance with Paragraph 3 below), (i) each Stockholder hereby irrevocably agrees to vote all Shares held by such Stockholder on all matters in accordance with the recommendations (including nominees for directors of the Company), if any, of the Company's management unless otherwise determined by the affirmative vote or written consent of at least a majority of all the Shares owned by the Members then serving on the Family Management Committee (the "Majority Vote of the FMC") and (ii) in the absence any recommendation on any matter of the Company's 3 management as aforesaid, each Stockholder hereby irrevocably agrees to vote all Shares held by such Stockholder on such matter in accordance with any determination of the Majority Vote of the FMC. For the purpose of determining a Majority Vote of the FMC, each Member shall vote the number of Shares such Member owns; provided, however, that (i) with respect to Ariel, the Shares held by Lenny, David and SEAVIEW, or the permitted transferees of Lenny, David and SEAVIEW, shall be deemed to be Shares owned by Ariel for such voting purpose and (ii) with respect to Michael, the Shares held by the MR Trust, or the permitted transferees of the MR Trust, shall be deemed to be Shares owned by Michael for such voting purpose. (c) The Stockholders hereby agree that the Family Management Committee shall have and may exercise the powers and authority set forth in this Agreement. 3. Possible Sale of the Shares; Etc. (a) In the event that the Members of the Family Management Committee representing a Majority Vote of the FMC (the "Majority") shall determine it to be in the best interests of the Stockholders, the Stockholders shall take such action as shall be necessary and appropriate to engage in a Sale (as such term is defined below) of all or part of the Shares of the Stockholders, as shall be determined by the Majority. For purposes of this Agreement, a "Sale" of Shares shall include any sale of the Shares or any other transaction (such as a merger, consolidation, sale of assets or recapitalization involving the Company, any other disposition of Shares by the Stockholders for value, or any similar transaction) which the Majority determines to be a Sale for purposes of this Paragraph 3. (b) In the event the Majority determines that a Sale is in the best interest of the Stockholders, the Stockholders shall take such action as shall be necessary and appropriate to appoint one or more members of the Majority, as the sole and exclusive agents of 4 the Stockholders, to negotiate and consummate such Sale on the terms and conditions and for such price as the Majority in the sole judgment thereof shall determine to be in the best interests of the Stockholders. The decisions of the Majority acting under this Paragraph 3 shall be final and binding upon the Stockholders, and the authority hereunder of the Majority shall include the power to execute and deliver all documents and instruments necessary and appropriate to effect the aforesaid transaction and all matters related thereto. The Stockholders shall execute and deliver such certificates and documents, and take such actions as may be necessary and appropriate to facilitate and effect such a Sale, including, in any case where the Sale is a merger or other transaction involving the Company, voting their Shares in favor of the transaction and otherwise cooperating in effectuating such transaction. Unless the Stockholders shall otherwise unanimously agree, with respect to any Sale under this Paragraph 3, in the event of a determination by the Majority to dispose of pursuant to the Sale only a part of the Shares held by the Stockholders, the number of Shares so disposed of by each Stockholder shall be determined on a pro rata basis (in proportion to the number of Shares held by the respective Stockholders immediately prior to such Sale). (c) In the case of any Sale in which the Stockholders receive as consideration or partial consideration for their Shares common stock or other equity securities in the Company, the purchaser, any successor to the Company or any other entity, the Majority may determine that such common stock or other equity securities shall be deemed Shares for all purposes of this Agreement and that any such purchaser or other entity (a "Successor Entity") shall be deemed the Company for all purposes of this Agreement. 5 4. Custodial Agreement and Deposit of Shares in Custody. (a) Oudi, Leon, Yudith and Ariel have executed and delivered the Custody Agreement, dated as of November 24, 1999 (the "Custody Agreement"), among Oudi, Leon, Yudith, Ariel and Discount Bank & Trust Co., a Swiss corporation (the "Custodian"), and have assigned and delivered, or caused to be assigned and delivered, to the Custodian all Shares owned by such parties to the Custody Agreement. Promptly, upon execution of this Agreement, Lenny, David, SEAVIEW and the MR Trust will take all necessary actions to cause their Shares to be governed by such Custody Agreement with the Custodian or any successor of such Custodian. The Stockholders will also assign and transfer, or cause to be assigned and transferred, to the Custodian all Shares acquired by the Stockholders during the term of this Agreement. The Stockholders shall deposit with the Custodian the certificates representing such Shares, duly endorsed in blank or accompanied by stock powers executed in blank, free and clear of all liens, claims, encumbrances or other rights of third parties, other than encumbrances or rights created by agreements among the Stockholders. (b) Any cash dividends or cash distributions with respect to the Shares held by the Custodian will be paid or distributed to the respective Stockholders owning such Shares or as may otherwise be directed by such respective Stockholders. (c) The Stockholders hereby agree to irrevocably authorize and direct the Custodian to vote all Shares held in custody in accordance with the recommendations of the Company's management (with written notice to the Custodian by the then President of the Company being conclusive evidence for such purpose of any such recommendation) unless otherwise determined by a Majority Vote of the FMC (with written notice to the Custodian by the Majority being conclusive evidence for such purpose of any such recommendation), all as 6 contemplated by Paragraph 2 above; provided, however, that, notwithstanding the foregoing, such Shares shall be voted in connection with any Sale in accordance with the determination of the Majority (with written notice to the Custodian by the Majority being conclusive evidence for such purpose of any such determination), all as contemplated by Paragraph 3 above. In the case of any vote not relating to a Sale and in which there has been no recommendation of the Company's management as contemplated above, all Shares held in custody shall be voted in accordance with any determination of the Majority Vote of the FMC (with written notice to the Custodian by the Majority being conclusive evidence for such purpose of such determination). The Stockholders hereby agree to irrevocably authorize and direct the Custodian to take such actions as the Majority may direct in writing to insure compliance with the provisions of Paragraph 3 above. The Stockholders hereby agree to irrevocably authorize and direct the Custodian to take such actions as may be appropriate to insure compliance with the provisions of Paragraph 1 above. 5. Miscellaneous. (a) Termination. This Agreement shall terminate only on the Sale of all of the Shares under Paragraph 3 above (unless the Majority shall determine under Paragraph 3(c) above that the common stock or other equity securities received by the Stockholders as consideration or partial consideration in such Sale shall continue to be deemed Shares for purposes of this Agreement, in which case this Agreement shall remain in effect), provided that, notwithstanding the foregoing, the provisions of Paragraph 1 above shall terminate on the twentieth anniversary of the date of this Agreement. (b) Further Assurances. Each Stockholder shall do and perform or cause to be done and performed all such further acts and things and shall execute and deliver all 7 such other agreements, certificates, instruments, and documents as any other Stockholder hereto from time to time reasonably may request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby. (c) Governing Law. This Agreement and the rights and obligations of the parties hereunder shall be governed by, and construed and interpreted in accordance with the laws of the State of New York without giving effect to the choice of law principles thereof. (d) Dispute Resolution. In the event of any dispute arising out of or in connection with this Agreement, the parties agree to submit the matter to Professor Jacques-Andre Reymond, in Geneva, acting as a mediator. In case Professor Reymond cannot exercise this function and, in the absence of an agreement between the parties on the identity of the mediator, the mediator shall be designated by the International Chamber of Commerce under the ICC ADR Rules. If the dispute has not been settled within 30 days following the submission of the matter to the mediator or within such other period as the parties may agree in writing, such dispute shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one arbitrator appointed in accordance with said Rules of Arbitration. The arbitration proceedings shall be conducted in English and the place of arbitration shall be Geneva. (e) Binding Effect. This Agreement shall be binding on and inure to the benefit of the parties hereto. (f) Invalidity of Provision. If any provision of this Agreement is invalid or unenforceable, the balance of this Agreement shall remain in full force and effect and this Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted. 8 (g) Notice. All notices, requests, claims, demands and other communications under this Agreement shall be in writing (including telecopy, but only if a telecopy number is specified for such party in this Paragraph 5(g) below, or similar writing) and shall be effective (i) if given by telecopy, when such telecopy is transmitted to the telecopy number specified in this Paragraph 5(g) and the appropriate telecopy confirmation is received or (ii) if given by any other means, when delivered at the address specified in this Paragraph 5(g) (or at such other address for a Stockholder as shall be specified by like notice): If to Diane: Diane Recanati 944 Fifth Avenue New York, NY 10021 If to Oudi: Oudi Recanati 9A ch. de la Perriere CH-1223 Cologny, Switzerland Fax No.: 41 22 752.50.80 If to Leon: Leon Recanati Yoav 27 Zahala Tel Aviv 69081 Israel Fax No.: 011 972 3 695 20 69 If to Yudith: Yudith Yovel Recanati 64 Kaplan Street Herzliah Pituah 46743 Israel If to Ariel: Ariel Recanati 511 Fifth Avenue New York, NY 10017 Fax. No.: 212-578-1777 If to the MR Trust: The Michael Recanati Trust c/o Michael A. Recanati and Daniel Pearson, as Investment Trustees 590 Fifth Avenue 19th floor New York, NY 10036 9 If to Lenny: Leon (Lenny) Recanati 77 Shalva Street Herzlyia Pituah 46662 Israel Fax No.: 011 972 9 951 2023 If to David: David Recanati 308 East 72nd Street New York, NY 10021 Fax No.: 212-717-8257 If to SEAVIEW: SEAVIEW Trust c/o Ariel Recanati 511 Fifth Avenue New York, NY 10017 Fax No.: 212-578-1777 (h) Indemnification. The Stockholders hereby jointly and severally agree to indemnify and hold harmless the Members of the Family Management Committee against and in respect of any liability, loss, damage or expense incurred by the Members of the Family Management Committee in connection with service on such Committee. (i) Headings. The headings and captions contained herein are for convenience of reference only and shall not control or affect the meaning or construction of any provision hereof. (j) Execution in counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which together shall constitute one and the same instrument. (k) Application of this Agreement to Diane. Notwithstanding anything in this Agreement to the contrary, (i) the restrictions on Transfer of Shares under Paragraph 1 shall not apply to Diane; (ii) the provisions of Paragraph 3(a) and (b) shall apply to Diane only at her option; and (iii) the provisions relating to the deposit in custody, voting and restrictions on Transfer of Shares under Paragraph 4 shall not apply to Diane. 10 (l) Amendment. This Agreement may be amended, supplemented or modified only by a written instrument duly executed by the Majority; provided, however, (i) the definition of a "Majority Vote of the FMC" in Paragraph 2(b) may be amended, supplemented or modified only by the written unanimous consent of the Stockholders, (ii) the proviso in Paragraph 2(b) relating to the Shares deemed to be owned by Ariel and Michael may be amended, supplemented or modified only by the written consent of Ariel or Michael, respectively, (iii) a Member of the Family Management Committee may be removed only with his or her written consent and (iv) this Agreement may not be otherwise amended, supplemented or modified in a manner that is adverse to a party hereto without such party's written consent. 11 IN WITNESS WHEREOF, this Agreement has been executed by each of the Stockholders on the date first above written. /s/ Diane Recanati -------------------------------------------- DIANE RECANATI /s/ Oudi Recanati -------------------------------------------- OUDI RECANATI /s/ Leon Recanati -------------------------------------------- LEON RECANATI /s/ Yudith Yovel Recanati -------------------------------------------- YUDITH YOVEL RECANATI /s/ Ariel Recanati -------------------------------------------- ARIEL RECANATI /s/ Leon (Lenny) Recanati -------------------------------------------- LEON (LENNY) RECANATI /s/ David Recanati -------------------------------------------- DAVID RECANATI 12 THE MICHAEL RECANATI TRUST /s/ Michael Recanati -------------------------------------------- By: Michael Recanati, as Investment Trustee /s/ Daniel Pearson -------------------------------------------- By: Daniel Pearson, as Investment Trustee SEAVIEW TRUST /s/ Ariel Recanati -------------------------------------------- By: Ariel Recanati, as Trustee 13 EX-99.B 4 y85615exv99wb.txt JOINT FILING AGREEMENT EXHIBIT B JOINT FILING AGREEMENT Diane Recanati, Oudi Recanati, Leon Recanati, Yudith Yovel Recanati, Ariel Recanati, The Michael Recanati Trust, Michael Recanati and Daniel Pearson each hereby agrees, in accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, that the Schedule 13D filed herewith, and any amendment thereto, relating to the shares of Common Stock, $1.00 par value per share, of Overseas Shipholding Group, Inc. are, and will be, filed jointly on behalf of such person. In addition, each party to this Agreement expressly authorizes each other party to this Agreement to file on its behalf any and all amendments to such Schedule. Date: April 16, 2003 /s/ Diane Recanati ------------------------------- Signature Diane Recanati /s/ Oudi Recanati ------------------------------- Signature Oudi Recanati /s/ Leon Recanati ------------------------------- Signature Leon Recanati /s/ Yudith Yovel Recanati ------------------------------- Signature Yudith Yovel Recanati /s/ Ariel Recanati ------------------------------- Signature Ariel Recanati /s/ Michael Recanati ------------------------------- Signature Michael Recanati, as Investment Trustee of The Michael Recanati Trust /s/ Daniel Pearson ------------------------------- Signature Daniel Pearson, as Investment Trustee of The Michael Recanati Trust 2 The Michael Recanati Trust /s/ Michael Recanati ------------------------------ Signature Michael Recanati, as Investment Trustee /s/ Daniel Pearson ------------------------------ Signature Daniel Pearson, as Investment Trustee 3 -----END PRIVACY-ENHANCED MESSAGE-----