Company: TEN-PE
Filing Date: 2025-09-30
Form Type: 6-K
Source: 0001193125-25-225057
Chunk: 46

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-09-30
Form: 6-K
Chunk 46
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 the first half of 2025 and 2024, the Company had nonew issuances of shares (other than the restricted shares discussed below).

On January 30, 2025, and April 30, 2025, the Company paid dividends of $ 0.59375per share, $ 8,012in aggregate, on its Series F Preferred Shares.

On February 28, 2025, and May 28, 2025, the Company paid dividends of $ 0.57812per share $ 5,488in total, on its Series E Preferred Shares.

On March 27, 2025, the Company declared the first semi-annual dividend of $ 0.60per common share, $ 18,077in total, which was paid on July 18, 2025. On March 27, 2024, the Company declared the first semi-annual dividend of $ 0.60per common share, $ 17,705in total, which was paid on July 18, 2024.

On May 1, 2024, the Company’s Board of Directors adopted, in accordance with Bermuda law, the Tsakos Energy Navigation Limited 2024 Equity Incentive Plan (the “2024 Plan”), which replaced the Company’s share-based incentive plan adopted in 2012. The 2024 Plan permits the Company to grant share options or other share based awards with respect to up to 1,000,000 of the Company’s common shares to its directors and officers, to the officers of the vessels in the fleet, and to the directors, officers and employees of our managers. On July 24, 2024, 625,000 restricted common shares were granted under the 2024 Plan to Company directors and officers as well as other employees and persons who provide services to the Company and its subsidiaries and employees of any management company, of which 3,000 shares were subsequently forfeited during the second half of 2024. The restricted shares are scheduled to vest upon satisfaction of the time-based and performance-based conditions. The time-based condition will be satisfied so long as the participant continues to have a service relationship with the Company or its subsidiaries or any management company on the applicable vesting dates. The performance-based condition will be satisfied upon determination by the Company that the fleet utilization as defined in the awards, equals or exceeds 85% for the period from January 1, 2024 through the end of the last complete