International Seaways SVP William Nugent disposes of 6,830 shares in discretionary sale
William F. Nugent’s latest SEC Form 4 filing reveals a significant reduction in his stake in the marine transportation firm, with retained ownership now sitting at roughly 0.10% of outstanding shares.
On 14 May 2026, William F. Nugent, Senior Vice President of International Seaways, executed a discretionary sale of 6,830 shares in the company. The transaction, reported via an SEC Form 4 filing, was valued at approximately $582,000, based on a reported price of $85.23 per share. This move represents a 12.20% reduction in Nugent’s direct shareholdings.
The volume of this disposal is materially higher than Nugent’s historical average sell-only transaction size of approximately 2,094 shares. However, the scale of the trade aligns with his recent disposition of 9,583 shares in March 2026, suggesting a pattern of executing larger transactions as his equity position declines.
Crucially, the filing confirms that the transaction involved only direct holdings. There was no participation from indirect entities, trusts, or derivative instruments in the sale. Following the transaction, Nugent retained 49,169 directly held shares.
As of 17 May 2026, these retained shares constituted approximately 0.10% of International Seaways’ total outstanding shares. This low level of remaining direct ownership indicates that any future sales by Nugent are likely to remain capacity-constrained unless further equity awards are granted to the executive.
International Seaways operates a global fleet of oceangoing vessels transporting crude oil and petroleum products. The company generates revenue primarily through shipping contracts and charter agreements, serving independent and state-owned oil companies, traders, and refinery operators. Its business model leverages fleet scale and operational efficiency to maximise cash flow in the oil and gas midstream sector.
