# EDGAR Filing Document

**Accession Number:** 0001679049
**File Stem:** 0001104659-25-061750
**Filing Date:** 2025-6
**Character Count:** 21458
**Document Hash:** aeb2bb25e6ac823b3a39cec29e7b1490
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-061750.hdr.sgml**: 20250623

**ACCESSION NUMBER**: 0001104659-25-061750

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20250623

**DATE AS OF CHANGE**: 20250623

**EFFECTIVENESS DATE**: 20250623

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** International Seaways, Inc.
- **CENTRAL INDEX KEY:** 0001679049
- **STANDARD INDUSTRIAL CLASSIFICATION:** WATER TRANSPORTATION [4400]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 980467117
- **STATE OF INCORPORATION:** 1T
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-288248
- **FILM NUMBER:** 251065977

**BUSINESS ADDRESS:**
- **STREET 1:** 600 THIRD AVENUE
- **STREET 2:** 39TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10016
- **BUSINESS PHONE:** 2129534100

**MAIL ADDRESS:**
- **STREET 1:** 600 THIRD AVENUE
- **STREET 2:** 39TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10016

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OSG International, INC
- **DATE OF NAME CHANGE:** 20160707

**As filed with the Securities and Exchange Commission on June 23, 2025**

**Registration No.**

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8<br> REGISTRATION STATEMENT**

***UNDER<br> THE SECURITIES ACT OF 1933***

**INTERNATIONAL SEAWAYS, INC.**

**(Exact Name of Registrant as Specified in Its Charter)**

---

| | |
|:---|:---|
| **Marshall Islands** | **98-0467117** |
| **(State or Other Jurisdiction of<br> Incorporation or Organization)** | **(I.R.S. Employer<br> Identification No.)** |

---

**600 Third Avenue, 39th** **Floor<br> New York, New York 10016<br> (Address, Including Zip Code, of Principal Executive Offices)**

**International Seaways, Inc. 2025 Management Incentive Compensation Plan**

**(Full Title of the Plan)**

**James D. Small III, Esq.<br> Chief Administrative Officer, Senior Vice President, Secretary and General Counsel<br> International Seaways, Inc.<br> 600 Third Avenue, 39th Floor<br> New York, New York 10016<br> (212) 578-1600<br> (Name, Address and Telephone Number, Including Area Code, of Agent for Service)**

***COPY TO:***

**Jeffrey D. Karpf, Esq.<br> Cleary Gottlieb Steen & Hamilton LLP<br> One Liberty Plaza<br> New York, New York 10006**

**(212) 225-2000**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or emerging growth company. See definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ⌧ Accelerated filer ◻ Non-accelerated filer ◻ Smaller reporting company ◻ <br> 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. ◻

**REGISTRATION OF ADDITIONAL SECURITIES PURSUANT TO GENERAL INSTRUCTION E OF FORM S-8**

**EXPLANATORY NOTE**

This Registration Statement on Form S-8 is being filed by International Seaways, Inc. (the "Registrant") for the purpose of registering 1,300,000 additional shares of common stock, no par value ("Common Stock") issuable under the International Seaways, Inc. 2025 Management Incentive Compensation Plan ‎(f/k/a the International Seaways, Inc. 2020 Management Incentive Plan)‎ (the "Plan"). On May 18, 2020, the Registrant filed with the U.S. Securities and Exchange Commission [Form S-8 Registration Statement (File No. 333-238476)](https://www.sec.gov/Archives/edgar/data/1679049/000167904920000012/inswform-s-8-may 2020.htm) (the "Prior Registration Statement") relating to shares of Common Stock under the Plan. The Prior Registration Statement is currently effective. The Registration Statement relates to securities of the same class as those to which the Prior Registration Statement relates and is submitted in accordance with General Instruction E of Form S-8 regarding Registration of Additional Securities. Pursuant to General Instruction E of Form S-8, the contents of the Prior Registration Statement relating to the Plan, including periodic reports that the Registrant filed after the Prior Registration Statement to maintain current information about the Registrant, are incorporated herein by reference and made part of the Registration Statement, except to the extent supplemented, superseded or modified by the specific information set forth below and/or the specific exhibits attached hereto.

**PART II**

INFORMATION REQUIRED IN THE<br> REGISTRATION STATEMENT

EXHIBIT INDEX

---

| | |
|:---|:---|
| Exhibit<br> Number | Description of Exhibit |
| [4.1](https://www.sec.gov/Archives/edgar/data/1679049/000114036125016661/ny20043870x1_def14a.htm#tAPPA) | [International Seaways, Inc. 2025 Management Incentive Compensation Plan (f/k/a the International Seaways, Inc. 2020 Management Incentive Plan) (filed as Appendix A to the Registrant's Annual Proxy Statement filed on April 30, 2025).](https://www.sec.gov/Archives/edgar/data/1679049/000114036125016661/ny20043870x1_def14a.htm#tAPPA) |
| [5.1](tm2518594d1_ex5-1.htm) | [Opinion of Reeder & Simpson P.C.](tm2518594d1_ex5-1.htm) |
| [23.1](tm2518594d1_ex23-1.htm) | [Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm.](tm2518594d1_ex23-1.htm) |
| [23.2](tm2518594d1_ex23-2.htm) | [Consent of Reeder & Simpson P.C.](tm2518594d1_ex23-2.htm) |
| [24](#a_001) | [Power of Attorney (filed as part of signature page).](#a_001) |
| [107](tm2518594d1_ex-filingfees.htm) | [Filing Fee Table](tm2518594d1_ex-filingfees.htm) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on this 23<sup>rd</sup> day of June, 2025.

---

| | |
|:---|:---|
| INTERNATIONAL SEAWAYS, INC. | INTERNATIONAL SEAWAYS, INC. |
| By: | /s/James D. Small III |
|  | Name: James D. Small III |
|  | Title: Chief Administrative Officer, Senior Vice President, Secretary and General Counsel |

---

**POWER OF ATTORNEY**

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints each of Lois K. Zabrocky and James D. Small III, and each of them acting individually, as his or her true and lawful attorney-in-fact, each with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities (unless revoked in writing), to sign any and all amendments (including post-effective amendments thereto) to this registration statement on Form S-8, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting to such attorney-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as full to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that such attorney-in-fact and agents, or their or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| Signature | Title | Date |
| /s/ Lois K. Zabrocky | Director, President and Chief Executive Officer | June 23, 2025 |
| Lois K. Zabrocky | (Principal Executive Officer) |  |
| /s/ Jeffrey Pribor | Chief Financial Officer | June 23, 2025 |
| Jeffrey Pribor | (Principal Financial and Accounting Officer) |  |
| /s/ Ian T. Blackley | Chairman of the Board | June 23, 2025 |
| Ian T. Blackley |  |  |
| /s/ Darron M. Anderson | Director | June 23, 2025 |
| Darron M. Anderson |  |  |
| /s/ Timothy Bernlohr | Director | June 23, 2025 |
| Timothy Bernlohr |  |  |
| /s/ A. Kate Blankenship | Director | June 23, 2025 |
| A. Kate Blankenship |  |  |
| /s/ Randee Day | Director | June 23, 2025 |
| Randee Day |  |  |
| /s/ David I. Greenberg | Director | June 23, 2025 |
| David I. Greenberg |  |  |
| /s/ Kristian K. Johansen | Director | June 23, 2025 |
| Kristian K. Johansen |  |  |
| /s/ Craig H. Stevenson, Jr. | Director | June 23, 2025 |
| Craig H. Stevenson, Jr. |  |  |

---

## Exhibit 5.1

**EXHIBIT 5.1**

**REEDER & SIMPSON, P.C.**

**ATTORNEYS AT LAW**

---

| | |
|:---|:---|
| **P.O. Box 601** | **RMI Tel.: +692-455-0560** |
| **RRE Commercial Center** | **Honolulu Tel.: +808-352-0749** |
| **Majuro, MH 96960 - Marshall Islands** | **Email: dreeder.rmi@gmail.com** |

---

June 19, 2025

Ladies and Gentlemen:

I have acted as Republic of the Marshall Islands (the "***RMI***"), counsel to International Seaways, Inc., a corporation organized under the laws of the RMI (the "***Company***"). The Company has requested my opinion in connection with the Registration Statement on Form S-8 (the "***Registration Statement***"), being filed by the Company under the Securities Act of 1933, as amended (the "***Act***"), relating to the registration of 1,300,00 additional shares of the Company's Common Stock, no par value (the "***Common Stock***"), issuable under the International Seaways, Inc. 2025 Management Incentive Compensation Plan (f/k/a the International Seaways, Inc. 2020 Management Incentive Plan) (the "***Plan***"). On May 18, 2020, the Registrant filed with the U.S. Securities and Exchange Commission Form S-8 Registration Statement (File No. 333-238476) (the "***Prior Registration Statement***"), relating to shares of Common Stock under the Plan. The Prior Registration Statement is currently effective.

I, have examined originals or copies, certified or otherwise identified to my satisfaction, of such corporate documents and records which I have deemed necessary or appropriate for the purposes of this opinion and have concluded such other investigations of fact and law as I have deemed necessary or advisable for purposes of this opinion. I have assumed that the signatures on all documents that have been examined are genuine. This opinion is limited solely to matters governed by the RMI Business Corporations Act in effect as of the date hereof, and I express no opinion with respect to any other laws or any other jurisdiction. Insofar as this opinion relates to Common Stock to be issued in the future, I have assumed that all applicable laws, rules and regulations in effect at the time of such issuance are the same as those in effect on the date hereof.

Based upon the foregoing and subject to the limitations set forth herein, I am of the opinion that the shares of Common Stock have been duly authorized and, when issued in accordance with the terms of the Plans, will be validly issued, fully paid and non-assessable.

I hereby consent to the filing of this opinion as an exhibit to the Registration Statement. In giving such consent, I do not thereby admit that I am within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission thereunder.

Sincerely,

/s/ Dennis J. Reeder

Dennis J. Reeder

Reeder & Simpson, P.C.

## Exhibit 23.1

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the 2025 Management Incentive Compensation Plan of International Seaways, Inc. of our reports dated February 27, 2025, with respect to the consolidated financial statements of International Seaways, Inc. and the effectiveness of internal control over financial reporting of International Seaways, Inc. included in its Annual Report (Form 10-K) for the year ended December 31, 2024, filed with the Securities and Exchange Commission.

/s/ Ernst & Young LLP

New York, New York

June 23, 2025

## Exhibit 23.2

**Exhibit 23.2**

**REEDER & SIMPSON, P.C.**

**ATTORNEYS AT LAW**

---

| | |
|:---|:---|
| **P.O. Box 601** | **RMI Tel.: +692-455-0560** |
| **RRE Commercial Center** | **Honolulu Tel.: +808-352-0749** |
| **Majuro, MH 96960 - Marshall Islands** | **Email: dreeder.rmi@gmail.com** |

---

International Seaways, Inc.

600 Third Avenue

39th Floor

New York, New York 10016

June 19, 2025

**<u>Re: International Seaways. Inc. (the "*Company*")</u>**

Ladies and Gentlemen:

We are licensed to practice law in the Republic of the Marshall Islands (the "***RMI***"), and are members in good standing of the Bar of the RMI. We have acted as special RMI counsel to the Company, a RMI corporation, and in such capacity we have assisted in the preparation and filing by the Company of a Registration Statement on Form S-8 (the "***Registration Statement***"), with the Securities and Exchange Commission (the "***Commission***"), under the Securities Act of 1933, as amended (the "***Securities Act***"), in respect to the contemplated issuance by the Company from time to time of up to 1,300,000 additional shares (the "***Shares***"), of common stock with no par value (the "***Common Stock***"), issuable under the Company's 2020 Management Incentive Compensation Plan (the "***Plan***").

In rendering this opinion, we have reviewed copies of the following documents: (i) the Registration Statement; (ii) the May 18, 2020, U.S. Securities and Exchange Commission Form S-8 Registration Statement (File No. 333-238476) (the "***Prior Registration Statement***"), relating to shares of Common Stock under the Plan with the Prior Registration Statement being currently effective; (iii) the Company's Second Amended and Restated Articles of Incorporation, as amended (the "***Articles of Incorporation***"); and (iv) the Company's Amended and Restated By-laws (the "***By-laws***").

In addition, although we have searched the statutory laws of the RMI and have examined such certificates, records, authorizations, and proceedings (as to factual matters) that we have deemed relevant, our knowledge of factual matters will be limited to those matters of which we have actual knowledge. The opinions hereinafter expressed are subject to the constitutionality and continued validity of all RMI statutes and laws relied upon us in connection therewith. We express no opinion as to matters governed by, or the effect or applicability of any laws of any jurisdiction other than the laws of the RMI which are in effect as of the date hereof. This opinion speaks as of the date hereof, and it should be recognized that changes may occur after the date of this letter which may affect the opinions set forth herein. We assume no obligation to advise the parties, their counsel, or any other party seeking to rely upon this opinion, of any such changes, whether or not material, or of any other matter which may hereinafter be brought to our attention.

Based upon the foregoing, and subject to the qualifications, limitations and assumptions set forth herein, we are of the opinion that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Company has the authority, pursuant to the Articles of Incorporation and the By-laws, to issue the Plan Shares, provided that the number of Plan Shares does not exceed the authorized number of shares of Common Stock as set forth in the Articles of Incorporation and the By-laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. When the Plan Shares are issued in accordance with the terms of the Plan, the Plan Shares will be legally issued.

We hereby authorize the Company to file this opinion as an exhibit to the Registration Statement and consent to the use of this opinion as an exhibit to the Registration Statement, without admitting that we are an "expert" within the meaning of the Securities Act or the rules and regulations of the Commission thereunder with respect to any part of the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission thereunder.

Sincerely,

/s/ Reeder & Simpson, P.C.

Reeder & Simpson, P.C.

Dennis J. Reeder

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **International Seaways, Inc.**  |

---

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Proposed Maximum Offering Price Per Unit**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| 1 | Equity | Common Stock, no par value, reserved for issuance under the International Seaways, Inc. 2025 Management Incentive Compensation Plan (f/k/a the International Seaways, Inc. 2020 Management Incentive Plan) | 457(a) | 1300000 | $40.16 | $52208000.00 | 0.0001531 | $7993.04 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $52208000.00  |  | $7993.04  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $7993.04  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> (1) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement on Form S-8 shall also cover any additional shares of Common Stock of the Registrant as may become available for issuance pursuant to the International Seaways, Inc. 2025 Management Incentive Compensation Plan (f/k/a the International Seaways, Inc. 2020 Management Incentive Plan) by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the receipt of consideration that results in an increase in the number of the Registrant's outstanding shares of Common Stock. (2) Estimated in accordance with Rule 457(c) and Rule 457(h) of the Securities Act based upon the average of the high and low prices of the Registrant's Common Stock on June 17, 2025, as reported by NYSE which was $40.16.