0001679049-24-000048.txt : 20240318
0001679049-24-000048.hdr.sgml : 20240318
20240318193641
ACCESSION NUMBER: 0001679049-24-000048
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240314
FILED AS OF DATE: 20240318
DATE AS OF CHANGE: 20240318
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Pribor Jeffrey
CENTRAL INDEX KEY: 0001303205
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-37836
FILM NUMBER: 24760660
MAIL ADDRESS:
STREET 1: 35 WEST 56TH STREET
CITY: NEW YORK
STATE: NY
ZIP: 10019
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: International Seaways, Inc.
CENTRAL INDEX KEY: 0001679049
STANDARD INDUSTRIAL CLASSIFICATION: WATER TRANSPORTATION [4400]
ORGANIZATION NAME: 01 Energy & Transportation
IRS NUMBER: 980467117
STATE OF INCORPORATION: 1T
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 600 THIRD AVENUE
STREET 2: 39TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10016
BUSINESS PHONE: 2129534100
MAIL ADDRESS:
STREET 1: 600 THIRD AVENUE
STREET 2: 39TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10016
FORMER COMPANY:
FORMER CONFORMED NAME: OSG International, INC
DATE OF NAME CHANGE: 20160707
4
1
form4.xml
X0508
4
2024-03-14
0001679049
International Seaways, Inc.
INSW
0001303205
Pribor Jeffrey
C/O INTERNATIONAL SEAWAYS, INC.
600 THIRD AVENUE, 39TH FLOOR
NEW YORK
NY
10016
true
SVP,Chief Financial Officer &T
false
Restricted Stock Units
0
2024-03-14
4
A
0
10162
A
Common Stock
10162
10162
D
Performance Restricted Stock Units
0
2024-03-14
4
A
0
10162
A
Common Stock
10162
10162
D
On March 14, 2024, INSW granted the Reporting Person pursuant to the International Seaways 2020 Management Incentive Plan (the "2020 Plan") 10,162 restricted stock units which units vest as to one-third of such units on each of the first, second and third anniversaries of the date of the grant. Each unit represents the right to acquire one share of Common Stock. Settlement of vested units which may be in either shares of Common Stock or cash as determined by the Human Resources and Compensation Committee of the Board in its discretion, and will be net of any shares deducted for applicable taxes and other withholdings.
On March 14, 2024, INSW granted the Reporting Person pursuant to the 2020 Plan, 10,162 performance restricted stock units (PRSUs). Achievement under the PRSUs will be measured using an operating performance metric (return on invested capital, or ROIC) and a market performance metric (total shareholder return, or TSR, relative to the TSR of a peer group or companies), in each case measured over the three-year period beginning on January 2, 2024 and ending on December 31, 2026. Each metric relates to half of the PRSUs granted.
These PRSUs represent the right to receive an equivalent number of shares of INSW Common Stock (net of any shares deducted for applicable taxes and other withholdings) if and when the PRSUs vest, assuming a performance factor of 100% achievement. The PRSU grants are subject (so long as at least the minimum performance threshold is achieved) to increase or decrease pursuant to a performance factor that may range from 50% to 150%. The number of shares vesting, if any, will be reported after the Compensation Committee of the Issuer's Board of Directors certifies the achievement of the applicable performance metric following the end of the measurement period.
/s/James D. Small III, Attorney-in-Fact, pursuant to power of attorney previously filed
2024-03-18