International Seaways Elects New Director and CAO
Ticker: INSW · Form: 8-K · Filed: Mar 19, 2024 · CIK: 1679049
Sentiment: neutral
Topics: corporate-governance, officer-appointment, director-election
Related Tickers: INSW
TL;DR
INSW board shakeup: new director Sullivan, new CAO Vinion starts March 14. Officer pay details also out.
AI Summary
International Seaways, Inc. announced on March 19, 2024, that its Board of Directors has elected new members and appointed new officers. Specifically, Mr. Jeffrey D. Sullivan was elected as a Class III Director, and Ms. Joanie M. Vinion was appointed as the new Chief Accounting Officer, effective March 14, 2024. The company also disclosed details regarding compensatory arrangements for certain officers.
Why It Matters
Changes in board composition and key executive appointments can signal shifts in company strategy or governance, potentially impacting future performance and investor confidence.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance changes and officer appointments, with no immediate financial distress or significant operational shifts indicated.
Key Players & Entities
- International Seaways, Inc. (company) — Filer of the 8-K report.
- Jeffrey D. Sullivan (person) — Elected as a Class III Director.
- Joanie M. Vinion (person) — Appointed as Chief Accounting Officer.
- March 14, 2024 (date) — Effective date for the appointment of Joanie M. Vinion.
- March 19, 2024 (date) — Date of the 8-K filing.
FAQ
Who was elected as a new director for International Seaways, Inc.?
Mr. Jeffrey D. Sullivan was elected as a Class III Director.
Who has been appointed as the new Chief Accounting Officer?
Ms. Joanie M. Vinion has been appointed as the new Chief Accounting Officer.
When was Joanie M. Vinion's appointment as Chief Accounting Officer effective?
The appointment was effective March 14, 2024.
What other information is disclosed in this 8-K filing besides director and officer changes?
The filing also discloses details regarding compensatory arrangements of certain officers.
What is the filing date of this 8-K report?
The report was filed on March 19, 2024.
Filing Stats: 817 words · 3 min read · ~3 pages · Grade level 8.5 · Accepted 2024-03-19 17:15:21
Key Financial Figures
- $800,000 — y will receive an annual base salary of $800,000; Mr. Pribor will receive an annual base
- $610,000 — r will receive an annual base salary of $610,000; Mr. Small will receive an annual base
- $555,000 — l will receive an annual base salary of $555,000; and Mr. Oshodi will receive an annual
- $435,000 — of each of Mr. Solon and Mr. Nugent to $435,000. The salary increases will be retroacti
Filing Documents
- tm249275d1_8k.htm (8-K) — 38KB
- tm249275d1_ex10-1.htm (EX-10.1) — 10KB
- tm249275d1_ex10-2.htm (EX-10.2) — 10KB
- tm249275d1_ex10-3.htm (EX-10.3) — 11KB
- tm249275d1_ex10-4.htm (EX-10.4) — 11KB
- 0001104659-24-036216.txt ( ) — 305KB
- insw-20240314.xsd (EX-101.SCH) — 3KB
- insw-20240314_def.xml (EX-101.DEF) — 26KB
- insw-20240314_lab.xml (EX-101.LAB) — 36KB
- insw-20240314_pre.xml (EX-101.PRE) — 25KB
- tm249275d1_8k_htm.xml (XML) — 5KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Pursuant to General Instruction B.2 of Form 8-K, the following exhibit is furnished with this Form 8-K. Exhibit No. Description 10.1 Form of Amendment No. 9 to Ms. Zabrocky Employment Agreement . 10.2 Form of Amendment No. 6 to Mr. Pribor Employment Agreement . 10.3 Form of Amendment No. 7 to Mr. Small Employment Agreement . 10.4 Form of Amendment No. 8 to Mr. Oshodi Employment Agreement . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. INTERNATIONAL SEAWAYS, INC. (Registrant) Date: March 19, 2024 By /s/ James D. Small III Name: James D. Small III Title: Chief Administrative Officer, Senior Vice President, Secretary and General Counsel EXHIBIT INDEX Exhibit No. Description 10.1 Form of Amendment No. 9 to Ms. Zabrocky Employment Agreement . 10.2 Form of Amendment No. 6 to Mr. Pribor Employment Agreement . 10.3 Form of Amendment No. 7 to Mr. Small Employment Agreement . 10.4 Form of Amendment No. 8 to Mr. Oshodi Employment Agreement . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)