Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 180

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 6
Chunk 180
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 the Board.

Under

the

terms

of

the

Plan,

the

Company’s

Board

of

Directors

is

able

to

grant

(a)

non-qualified stock

options, (b) stock appreciation rights,

(c) restricted stock, (d)

restricted stock units, (e)

unrestricted stock,

(f) other equity-based or equity-related awards, (g)

dividend equivalents and (h) cash awards. No options

or stock appreciation

rights can be

exercisable subsequent to the

tenth anniversary of

the date on

which

such

Award

was

granted.

Under

the

Plan,

the

Administrator

may

waive

or

modify

the

application

of

forfeiture of awards

of restricted stock

and performance

shares in connection

with cessation of

service with

the Company.

No Awards

may be

granted under

the Plan

following the

tenth anniversary

of the

date on

which the Plan was adopted by the Board (i. e.,

January 8, 2031).

During

2024

and

as

of

the

date

of

this

annual

report,

our

board

of

directors

awarded

an

aggregate

of

2,300,000 shares and

2,000,000 shares, respectively,

of restricted common

stock, awarded to

executive

and non-executive directors.

All restricted shares

vest ratably over

three years and are

subject to forfeiture

until they vest. Unless they forfeit, grantees have the right to

vote, to receive and retain all dividends paid

and to exercise all other rights, powers and privileges of a holder of

shares.

In

2024,

compensation costs

relating

to

the

aggregate

amount

of

restricted

stock

awards

amounted to

$10.0 million.

C.

Board Practices

We

have

established

an

Audit

Committee,

comprised

of

two

board

members,

which

is

responsible

for

reviewing

our

accounting

controls,

recommending

to

the

board

of

directors

the

engagement

of

our

independent auditors,

and pre-approving

audit and

audit-related

services and

fees. Each

member has

been