| 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)
(Country) | 2. Date of Event Requiring Statement
(Month/Day/Year) 03/18/2026 | 3. Issuer Name and Ticker or Trading Symbol
DIANA SHIPPING INC. [ DSX ] | |||||||||||||||
| 3a. Foreign Trading Symbol
| 5. If Amendment, Date of Original Filed
(Month/Day/Year) | ||||||||||||||||
| 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
| 6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Beneficially Owned | |||
|---|---|---|---|
| 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, $0.01 par value per share | 8,278,726(1) | I | See footnote(1) |
| Common Stock, $0.01 par value per share | 13,599,448(2) | I | See footnote(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 | ||||
| Warrants | (3) | (3) | Common Stock | 1,357,975(3) | (3) | I | See footnote(3) |
| Warrants | (4) | (4) | Common Stock | 4,573,411(4) | (4) | I | See footnote(4) |
| Explanation of Responses: |
| 1. The shares are held by the Reporting Person indirectly through 4 Sweet Dreams, S.A. ("4SD") as the result of her ability to control the vote and disposition of 4SD. This amount Includes 3,585,820 shares awarded to the Reporting Person pursuant to the Issuer's 2014 Equity Incentive Plan (as amended and restated), which are currently unvested. |
| 2. The shares are held by the Reporting Person indirectly through Tuscany Shipping Corp. ("Tuscany") as the result of her ability to control the vote and disposition of Tuscany. |
| 3. On December 14, 2023, the Issuer distributed a dividend to all shareholders as of the record date, December 6, 2023 (the "Warrant Distribution"). The Issuer distributed one-fifth of a warrant for each issued and outstanding Common Share. The Reporting person currently owns 807,612 warrants through 4SD in the Warrant Distribution which entitles her to 1,357,975 shares of common stock issuable upon the exercise of the warrants. |
| 4. On December 14, 2023, the Issuer distributed a dividend to all shareholders as of the record date, December 6, 2023 (the "Warrant Distribution"). The Issuer distributed one-fifth of a warrant for each issued and outstanding Common Share. The Reporting person currently owns 2,719,889 warrants through Tuscany in the Warrant Distribution which entitles her to 4,573,411 shares of common stock issuable upon the exercise of the warrants. |
| /s/ Semiramis Paliou | 03/18/2026 | |
| ** 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. | ||
| * Form 3: SEC 1473 (03-26) | ||