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Filing Details

Accession Number:: 0001012975-16-001351
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2016-07-13 15:41:32
Reporting Period:: 2015-12-31

Filing Date:: 2016-07-13
Accepted Time:: 2016-07-13 15:41:32
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
75208	Overseas Shipholding Group Inc	OSG	Deep Sea Foreign Transportation Of Freight (4412)	132637623

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1491617	Bhr Capital Llc	733 Third Avenue, 15Th Floor New York NY 10017		No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock	Disposition	2015-12-31	37,642	$0.00	5,006,948	No	4	J	Indirect	See footnote
Class A Common Stock	Disposition	2016-02-25	7,248	$2.14	4,999,700	No	4	S	Indirect	See footnote
Class A Common Stock	Disposition	2016-02-26	32,152	$2.12	4,967,548	No	4	S	Indirect	See footnote
Class A Common Stock	Disposition	2016-02-29	17,500	$2.08	4,950,048	No	4	S	Indirect	See footnote
Class A Common Stock	Disposition	2016-03-01	193,330	$2.07	4,756,718	No	4	S	Indirect	See footnote
Class A Common Stock	Disposition	2016-03-02	237,835	$2.08	4,518,883	No	4	S	Indirect	See footnote
Class A Common Stock	Disposition	2016-03-03	61,568	$2.08	4,457,315	No	4	S	Indirect	See footnote
Class A Common Stock	Disposition	2016-03-29	46,926	$1.93	4,410,389	No	4	S	Indirect	See footnote
Class A Common Stock	Disposition	2016-03-29	4,216	$1.93	181,204	No	4	S	Indirect	See footnote
Class A Common Stock	Disposition	2016-03-29	65,380	$1.93	2,809,779	No	4	S	Indirect	See footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	J	Indirect	See footnote
No	4	S	Indirect	See footnote
No	4	S	Indirect	See footnote
No	4	S	Indirect	See footnote
No	4	S	Indirect	See footnote
No	4	S	Indirect	See footnote
No	4	S	Indirect	See footnote
No	4	S	Indirect	See footnote
No	4	S	Indirect	See footnote
No	4	S	Indirect	See footnote

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Common Stock	Class A Warrant (right to buy)	Disposition	2015-12-31	104,548	$0.00	119,393	$0.01
Class A Common Stock	Class A Warrant (right to buy)	Disposition	2016-03-08	1,526,637	$2.32	1,743,419	$0.01
Class A Common Stock	Class A Warrant (right to buy)	Disposition	2016-03-23	5,731,649	$2.15	6,545,543	$0.01
Class A Common Stock	Class A Warrant (right to buy)	Disposition	2016-03-23	504,850	$2.15	576,538	$0.01
Class A Common Stock	Class A Warrant (right to buy)	Disposition	2016-03-23	1,163,501	$2.15	1,328,718	$0.01
Class A Common Stock	Class A Warrant (right to buy)	Disposition	2016-03-29	6,664,858	$2.00	7,611,267	$0.01

Remaning Holdings	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
13,907,077	2039-08-05	No	4	J	Indirect
12,380,440	2039-08-05	No	4	S	Indirect
6,648,791	2039-08-05	No	4	S	Indirect
0	2039-08-05	No	4	S	Indirect
6,664,858	2039-08-05	No	4	S	Indirect
0	2039-08-05	No	4	S	Indirect

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Class A Common Stock	5,832,758	Indirect	See footnote

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Class A Common Stock	Class A Warrant (right to buy)	$0.01		2039-08-05	18,501,491	16,200,956	Indirect

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2039-08-05	18,501,491	16,200,956	Indirect

Footnotes

This transaction was a distribution in kind of the reported securities to shareholders upon such shareholders' exercise of their redemption rights.
Reflects a transfer of 523,234 shares of Class A Common Stock and 1,598,651 Class A Warrants from BHR Master to BHR-OSG on September 30, 2015, which was exempt from reporting pursuant to Rule 16a-13.
Reflects a stock dividend received from the Issuer on December 15, 2015 in the following amounts: 458,599 for BHR Master; 16,856 for BHR OC Master; 261,378 for BHR OC OSG and 530,250 for BHR-OSG. This receipt of the stock dividend was exempt from reporting pursuant to Rule 16a-9.
Reflects a clerical error in the Form 3 filed on July 27, 2015, which reported (i) 5,109,227 shares of Class A Common Stock instead of 5,109,225 shares of Class A Common Stock and (ii) 15,610,274 Class A Warrants instead of 15,610,276 Class A Warrants.
The securities are directly held by BHR Master Fund, Ltd. ("BHR Master"). The Reporting Person serves as investment adviser to BHR Master and disclaims pecuniary interest in the reported securities except to the extent of its economic interest.
Reflects a clerical error in the Form 3 filed on July 27, 2015, which reported (i) 168,563 shares of Class A Common Stock instead of 168,564 shares of Class A Common Stock and (ii) 504,851 Class A Warrants instead of 504,850 Class A Warrants.
The securities are directly held by BHR OC Master Fund, Ltd. ("BHR OC Master"). The Reporting Person serves as investment adviser to BHR OC Master and disclaims pecuniary interest in the reported securities except to the extent of its economic interest.
The securities are directly held by BHR OC OSG On-Shore Funding LLC ("BHR OC OSG"). The Reporting Person serves as investment adviser to BHR OC OSG and disclaims pecuniary interest in the reported securities except to the extent of its economic interest.
The securities are directly held by BHR-OSG On-Shore Funding LLC ("BHR-OSG"). The Reporting Person serves as managing member to BHR-OSG and disclaims pecuniary interest in the reported securities except to the extent of its economic interest.
The securities are not currently exercisable due to regulatory restrictions and will not become exercisable until they are held by a U.S. person.
The securities are currently exercisable.