Registrant’s telephone number, including area code: (203) 413-2000
Not Applicable
(Former name or former address, if changed since last report)
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 (see
General Instruction A.2. below):
☐
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 Securities Exchange Act of 1934:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Shares, $0.001 par value per share
DSSI
New York Stock Exchange
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. ☐
Item 1.01.
Entry into a Material Definitive Agreement.
On January 13, 2021, Diamond S Management LLC (“DSM”) a wholly-owned subsidiary of Diamond S Shipping Inc. (the “Company”), through which the Company’s named
executive officers are employed, entered into amendment agreements to the employment agreements with each of the Company’s named executive officers (the “Amendment Agreements”). Following the Amendment Agreements, which are effective as of April 2020,
each named executive officer is eligible to receive a discretionary cash bonus as determined by the Board of Directors of the Company (or the applicable committee or sub-committee to which such authority has been delegated) with a target amount equal
to a certain percentage of their annual base salary, of which 60% shall be subject to goals based on the Company’s performance, 20% shall be based on the achievement of certain individual goals unique to each named executive officer and 20% shall be
based on an evaluation of the named executive officer’s individual performance.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
