# EDGAR Filing Document

**Accession Number:** 0000075208
**File Stem:** 0001493152-23-008037
**Filing Date:** 2023-3
**Character Count:** 9194
**Document Hash:** 8a1e6f2a7792918077124066453373d3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-008037.hdr.sgml**: 20230317

**ACCESSION NUMBER**: 0001493152-23-008037

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230317

**ITEM INFORMATION**: Other Events

**FILED AS OF DATE**: 20230317

**DATE AS OF CHANGE**: 20230317

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OVERSEAS SHIPHOLDING GROUP INC
- **CENTRAL INDEX KEY:** 0000075208
- **STANDARD INDUSTRIAL CLASSIFICATION:** DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
- **IRS NUMBER:** 132637623
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-06479
- **FILM NUMBER:** 23741628

**BUSINESS ADDRESS:**
- **STREET 1:** TWO HARBOUR PLACE
- **STREET 2:** 302 KNIGHTS RUN AVENUE, SUITE 1200
- **CITY:** TAMPA
- **STATE:** FL
- **ZIP:** 33602
- **BUSINESS PHONE:** 8132090600

**MAIL ADDRESS:**
- **STREET 1:** TWO HARBOUR PLACE
- **STREET 2:** 302 KNIGHTS RUN AVENUE, SUITE 1200
- **CITY:** TAMPA
- **STATE:** FL
- **ZIP:** 33602

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(** **d) of the**

**Securities Exchange Act of 1934**

**March 17, 2023**

Date of Report (Date of earliest event reported)

**<u>Overseas Shipholding Group, Inc.</u>**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-06479** | **13-2637623** |
| (State of<br> Incorporation) | (Commission<br> File Number) | (IRS Employer<br> Identification No.) |

---

**Two Harbor Place**

**302 Knights Run Avenue, Suite 1200**

**<u>Tampa, Florida 33602</u>**

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: **<u>(813) 209-0600</u>**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Class A Common Stock (par value $0.01 per share) | OSG | NYSE |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Section 8 – Other Events**

Item 8.01 Other Events

The Board of Directors of Overseas Shipholding Group, Inc. has authorized a program to purchase up to ten million shares of the Company's common stock. The Company may repurchase shares from time to time in open market transactions (including the use of trading plans under SEC Rule 10b5-1) or in privately negotiated transactions. The timing and amounts of any purchases will be based on market conditions and other factors, such as price, in accordance with applicable laws. The program has no time limit, may be suspended, modified or discontinued at any time, and does not obligate OSG to purchase any particular amount of its common stock. The Company intends to fund the share repurchase program with excess cash.

(d) Exhibits

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [Press Release, dated March 17, 2023](ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, OSG has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **<u>OVERSEAS SHIPHOLDING GROUP, INC.</u>** | **<u>OVERSEAS SHIPHOLDING GROUP, INC.</u>** |
|  | (Registrant) | (Registrant) |
| Date: March 17, 2023 | By: | */s/ Susan Allan* |
|  |  | Susan Allan |
|  |  | Vice President, General Counsel & |
|  |  | **Corporate Secretary** |

---

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [Press Release, dated March 17, 2023](ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

## Exhibit 99.1

**Exhibit 99.1**

![](ex99-1_001.jpg)

**Overseas Shipholding Group**

**Announces Share Repurchase Program** 

**Tampa, FL –March 17, 2023 –** Overseas Shipholding Group, Inc. (NYSE: OSG) (the "Company" or "OSG") today announced that its Board of Directors has authorized a program to purchase up to ten million shares of the Company's common stock. Sam Norton, OSG's President and CEO, stated, "Share repurchases remain one of several focus points for use of free cash flow generated by current and anticipated vessel operations. Reauthorization of a share repurchase program by the OSG Board of Directors provides the Company with added flexibility to continuously evaluate opportunities to manage our available cash in manners that we believe will best serve our shareholders."

Under the program, the Company may repurchase shares from time to time in open market transactions (including the use of trading plans under SEC Rule 10b5-1) or in privately negotiated transactions. The timing and amounts of any purchases will be based on market conditions and other factors, such as price, in accordance with applicable laws. The program has no time limit, may be suspended, modified or discontinued at any time, and does not obligate OSG to purchase any particular amount of its common stock. The Company intends to fund the share repurchase program with excess cash.

**About Overseas Shipholding Group, Inc**

Overseas Shipholding Group, Inc. (NYSE: OSG) is a publicly traded company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets. OSG is a major operator of tankers and ATBs in the Jones Act industry. OSG's U.S. Flag fleet consists of three crude oil tankers doing business in Alaska, two conventional ATBs, two lightering ATBs, three shuttle tankers, seven MR tankers, and three non-Jones Act MR tankers, two of which participate in the U.S. Maritime Security Program, and one tanker in cold layup.

OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the world's most customer-focused marine transportation companies and is headquartered in Tampa, FL. More information is available at www.osg.com.

**Forward-Looking Statements**

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts should be considered forward-looking statements. Words such as "may", "will", "intends", "plans" and similar expressions are intended to identify forward-looking statements but should not be considered as the only means by which these statements may be made. Such forward-looking statements represent the Company's reasonable expectations with respect to future events or circumstances based on various factors and are subject to various risks, uncertainties, and assumptions relating to the Company's operations, financial results, financial condition, business, prospects, growth strategy and liquidity. Undue reliance should not be placed on any forward-looking statements and, when reviewing any forward-looking statements, consideration should be given to factors including, but not limited to, those factors discussed in the Company's Annual Report on Form 10-K, filed with the SEC on March 9, 2023. Investors should carefully consider these risk factors and the additional risk factors outlined in other reports hereafter filed by the Company with the SEC under the caption "Risk Factors." The Company assumes no obligation to update or revise any forward-looking statements except as may be required by law. Forward-looking statements in this press release and written and oral forward-looking statements attributable to the Company or its representatives after the date of this press release are qualified in their entirety by the cautionary statement contained in this paragraph and in other reports hereafter filed by the Company with the SEC.

**Investor Relations & Media Contact:**

Susan Allan, Overseas Shipholding Group, Inc.

(813) 209-0620

sallan@osg.com