Sec Form 4 Filing - Sukhrani Sanjay @ Diamond S Shipping Inc. - 2021-03-18

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Sukhrani Sanjay
2. Issuer Name and Ticker or Trading Symbol
Diamond S Shipping Inc. [ DSSI]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Chief Operating Officer
(Last) (First) (Middle)
33 BENEDICT PLACE, 2ND FLOOR
3. Date of Earliest Transaction (MM/DD/YY)
03/18/2021
(Street)
GREENWICH, CT06830
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 03/18/2021 A 26,513 ( 1 ) A $ 0 101,441 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Performance Restricted Stock Unit ( 2 ) 03/18/2021 A 26,513 ( 3 ) ( 3 ) Common Stock 26,513 $ 0 47,935 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Sukhrani Sanjay
33 BENEDICT PLACE, 2ND FLOOR
GREENWICH, CT06830
Chief Operating Officer
Signatures
/s/ Sanjay Sukhrani, Chief Operating Officer 03/19/2021
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The award represents a grant of restricted shares pursuant to the Diamond S Shipping Inc. 2019 Equity and Incentive Compensation Plan (the "2019 Equity Plan"). The award vests in three equal annual installments on March 18, 2022, March 18, 2023, and March 18, 2024 so long as the Reporting Person continuously serves as an employee from the award date through each applicable vesting date (subject to certain exceptions, as described in the award agreement).
( 2 )Each performance restricted stock unit ("PSU") represents a contingent right to receive one share of the Company's common stock.
( 3 )The award represents a grant of PSUs pursuant to the 2019 Equity Plan. Under the terms of the award agreement, to the extent that the performance requirements are satisfied, the reporting person may receive up to 33,141 PSUs, which will vest on March 18, 2024 and are determined based upon relative total shareholder return against certain peer tanker companies, measured over the period from January 1, 2021 to December 31, 2023.

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 4(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).

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