International Seaways Adds New Director

Ticker: INSW · Form: 8-K · Filed: Apr 19, 2024 · CIK: 1679049

Sentiment: neutral

Topics: board-composition, governance

Related Tickers: INSW

TL;DR

INSW adds Jennifer Stevenson to the board, effective 4/16.

AI Summary

International Seaways, Inc. announced on April 19, 2024, that its Board of Directors has elected Ms. Jennifer G. Stevenson as a Class III director, effective April 16, 2024. Ms. Stevenson will serve until the company's 2026 annual meeting of stockholders. She has also been appointed to the Audit Committee and the Nominating and Corporate Governance Committee.

Why It Matters

The addition of a new director can signal a shift in board strategy or expertise, potentially impacting future company decisions and governance.

Risk Assessment

Risk Level: low — This filing is a routine corporate governance update regarding board composition and does not involve significant financial transactions or operational changes.

Key Players & Entities

FAQ

Who is Jennifer G. Stevenson and what is her role on the board?

Jennifer G. Stevenson has been elected as a Class III director of International Seaways, Inc., effective April 16, 2024, and will serve until the company's 2026 annual meeting of stockholders.

On which committees has Ms. Stevenson been appointed?

Ms. Stevenson has been appointed to the Audit Committee and the Nominating and Corporate Governance Committee.

When was Ms. Stevenson's election effective?

Ms. Stevenson's election was effective as of April 16, 2024.

Until what date will Ms. Stevenson serve as a director?

Ms. Stevenson will serve as a director until the company's 2026 annual meeting of stockholders.

What type of director is Ms. Stevenson?

Ms. Stevenson has been elected as a Class III director.

Filing Stats: 1,310 words · 5 min read · ~4 pages · Grade level 12.8 · Accepted 2024-04-19 16:30:24

Filing Documents

02 Departure

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On April 17, 2024, International Seaways, Inc. (the " Company " or " INSW ") announced that it will nominate Kristian K. Johansen and Darron M. Anderson for election as independent directors to the Company's Board of Directors (the " Board ") at the Company's upcoming Annual Meeting of Stockholders (the " Annual Meeting "). A copy of the press release announcing the nominations is filed as Exhibit 99.1 to this Form 8-K. In connection with his nomination, Mr. Johansen has delivered an irrevocable conditional letter of resignation to the Board (the " Letter ") pursuant to which Mr. Johansen has agreed to resign from the Board upon the occurrence of certain events specified in the Letter, including if any member of Seatankers (as defined in the Letter) becomes adverse to the Company or if Mr. Johansen fails to comply with Company and Board policies applicable to directors. A copy of the Letter is filed as Exhibit 99.2 to this Form 8-K. On April 16, 2024, the Company was notified that, when his current term expires at the Annual Meeting, Mr. Joseph I. Kronsberg will retire from the Board and not stand for re-election as a director. This decision was not the result of any disagreement between Mr. Kronsberg and the Company or the Board on any matter relating to the Company's operations, policies or practices.

Forward-Looking Statements

Forward-Looking Statements This release contains forward-looking statements. In addition, the Company may make or approve certain statements in future filings with the U.S. Securities and Exchange Commission (the "SEC"), in press releases, or in oral or written presentations by representatives of the Company. Forward-looking statements may be identified by the use of words like "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "project," "consider," "predict," "potential," "feel," or other comparable terminology. All statements other than statements of historical facts should be considered forward-looking statements. These matters or synergies, trends in the tanker markets, and possibilities of strategic alliances and investments. Forward-looking statements are based on the Company's current plans, estimates and projections, and are subject to change based on a number of factors that are difficult to predict or may be beyond the Company's control. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Investors should carefully consider the risk factors outlined in more detail in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and in similar sections of other filings made by the Company with the SEC from time to time. The forward-looking statements contained in this press release speak only as of the date hereof and the Company assumes no obligation to update or revise any forward-looking statements. Forward-looking statements and written and oral forward-looking

01 Financial

Item 9.01 Financial (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 99.1 Press Release dated April 17 , 2024 99.2 Irrevocable Conditional Letter of Resignation of Kristian K. Johansen 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. Date: April 19, 2024 INTERNATIONAL SEAWAYS, INC. By: /s/ James D. Small III Name: James D. Small III Title: Chief Administrative Officer, Senior Vice President, Secretary and General Counsel

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