FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 02/01/2010 |
3. Issuer Name and Ticker or Trading Symbol
OVERSEAS SHIPHOLDING GROUP INC [ OSG ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Beneficially Owned | |||
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1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Stock, par value $1.00 per share | 1,520(1) | D | |
Common Stock, par value $1.00 per share | 426(2) | I(2) | (2) |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Stock Option (right to buy) | (3) | 01/10/2018 | Common Stock | 2,729 | $64.92 | D | |
Stock Option (right to buy) | (4) | 12/17/2018 | Common Stock | 4,328 | $40.95 | D |
Explanation of Responses: |
1. These shares of common stock were granted pursuant to the Overseas Shipholding Group, Inc. 2004 Stock Incentive Plan, as amended (the "2004 Plan"). Of these 1,520 shares of common stock, 1,157 shares are subject to vesting restrictions. The reporting person becomes vested in 257 shares on December 17, 2010, 192 shares on January 10, 2011, 257 shares on December 17, 2011, 193 shares on January 10, 2012 and 258 shares on December 17, 2012. |
2. The reporting person indirectly owns these 426 shares of common stock through the Overseas Shipholding Group, Inc. 2000 Employee Stock Ownership Plan. |
3. The option to purchase these shares of common stock was granted pursuant to the 2004 Plan on January 10, 2008. The option is exercisable with respect to 1,819 of these shares and will become exercisable with respect to the remaining 910 shares shares on January 10, 2011. |
4. The option to purchase these shares of common stock was granted pursuant to the 2004 Plan on December 17, 2008. The option is exercisable with respect to 1,442 of these shares and will become exercisable with respect to an additional 1,443 shares on each of December 17, 2010 and December 17, 2011. |
Remarks: |
/s/James I. Edelson, as attorney-in-fact, pursuant to a power of attorney attached hereto | 02/04/2010 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |