Pribor Jeffrey 4

What Happened

• Jeffrey Pribor, Senior Vice President & Chief Financial Officer of International Seaways (INSW), exercised stock options on March 16, 2026. He exercised options covering 13,171 shares with an aggregate exercise cost of $288,840 (exercise price $21.93 per share). The company withheld 8,708 shares to cover the exercise price and taxes (valued at $68.63 per share, aggregate $597,630), resulting in a net receipt of 4,463 shares. This was a net (cashless) exercise of vested options, not an open-market buy or sale.

Key Details

• Transaction date: 2026-03-16; Form 4 filed 2026-03-17 (timely)
• Option exercise (Code M): 13,171 shares; exercise price $21.93; aggregate exercise cost $288,840
• Tax/exercise withholding (Code F): 8,708 shares withheld at $68.63 per share (aggregate $597,630)
• Net shares received: 13,171 − 8,708 = 4,463 shares (approx. $306,296 based on $68.63 market price)
• Footnotes: F1 — net share settlement (cashless); F2 — shares withheld to satisfy exercise price and withholding taxes; F3 — 100% of options vested and exercisable on the date
• Shares owned after transaction: not specified in the provided filing

Context

• This was a routine option exercise via net (cashless) settlement—company withheld shares to cover the exercise cost and tax withholding rather than Pribor selling shares on the open market for cash.
• Exercise of vested options is common for executives and does not by itself signal a purchase decision in the market; it converts option rights into common shares.