International Seaways’ Treasury Director Balances Short‑Term Sales with Long‑Term Incentive Plans as Share Price Flirts with 52‑Week Highs

Insider Activity Signals a Mixed Outlook for International Seaways

Recent filings show that Treasurer Debra Grillo has been active in exercising her 2020 and 2025 incentive plans. On October 24, 2025 she settled 1,944 restricted‑stock units (RSUs) by acquiring 1,944 shares, while simultaneously selling 759 shares to cover tax withholding. This net purchase increased her holdings to 2,333 shares. The transaction occurred at a price of $56.37, roughly flat to the current market level, and was filed a few days late—an administrative slip that does not necessarily signal a change in intent. What matters is that Grillo’s position grew modestly during a period when the company’s share price was hovering near a 52‑week high of $57.36, suggesting confidence in a near‑term upside.

The same day, on July 3, 2025, Grillo also bought 2,715 restricted‑stock units under the 2025 plan, and 2,714 performance‑restricted stock units (PRSUs). Although these are not yet settled, they indicate that the Treasury team is planning for the long term. The PRSUs will vest only if the company meets ambitious ROIC and TSR targets over the next three years, providing a built‑in incentive for management to focus on profitability and shareholder returns. For investors, this alignment of management interests with equity performance can be a positive signal, particularly in a sector where margins are sensitive to oil prices and operational efficiencies.

Across the board, other senior executives have been selling shares in a concentrated burst of transactions. CFO Pribor Jeffrey and CEO Zabrocky Lois K each sold roughly 2,000 shares on January 15, 2026, and a series of smaller sales earlier in 2025. While insider selling can sometimes be a red flag, the timing coincides with a broader market sell‑off in the oil and gas sector and does not appear to be linked to a sudden change in company fundamentals. Moreover, the sheer volume of shares sold—over 180,000 for the CEO alone—may simply reflect liquidity needs or portfolio rebalancing rather than a loss of confidence.

Implications for Investors

1. Short‑Term Volatility: The company’s share price has swung from a 52‑week low of $27.20 to a high of $57.35 within the year, underscoring the volatility inherent in energy transport. Investors should be prepared for sharp price swings as global oil demand and shipping rates fluctuate.

2. Management Alignment: Grillo’s recent purchases and the pending vesting of PRSUs suggest that the treasury team is invested in long‑term performance. If the company meets its ROIC/TSR targets, the PRSUs could convert into a significant equity stake, potentially driving up the stock price.

3. Liquidity Considerations: The heavy selling by top executives could depress the share price if not offset by new institutional inflows. However, the company’s market cap of $2.79 billion and a P/E of 12.95 place it comfortably within the mid‑cap range, offering a cushion against extreme short‑term moves.

Conclusion

International Seaways is navigating a volatile sector while its insider activity suggests a mix of short‑term sales and long‑term commitment. For investors, the key signals are the alignment of executive incentives with shareholder returns and the company’s capacity to maintain profitable operations amid fluctuating oil transport rates. A cautious, but optimistic stance may be warranted, especially for those willing to ride out sector‑specific cycles while capitalizing on potential upside if the company hits its performance targets.