| FORM 3 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
(Country) | 2. Date of Event Requiring Statement
(Month/Day/Year) 04/01/2026 | 3. Issuer Name and Ticker or Trading Symbol
Performance Shipping Inc. [ PSHG ] | |||||||||||||||
| 3a. Foreign Trading Symbol
| 5. If Amendment, Date of Original Filed
(Month/Day/Year) | ||||||||||||||||
| 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
| 6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Beneficially Owned | |||
|---|---|---|---|
| 1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
| Common shares, par value $0.01 | 280 | I | Held through Mango Shipping Corp.(1) |
| Common shares, par value $0.01 | 420 | I | Held by spouse through Mitzela Corp.(2) |
| Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
|---|---|---|---|---|---|---|---|
| 1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Series C Preferred Shares | (3) | (4) | Common shares, par value $0.01 | 24,268,863 | (5) | I | Held through Mango Shipping Corp.(1) |
| Series C Preferred Shares | (3) | (4) | Common shares, par value $0.01 | 1,039,979 | (5) | I | Held by spouse through Mitzela Corp.(2) |
| Explanation of Responses: |
| 1. Aliki Paliou owns and controls Mango Shipping Corp. |
| 2. Aliki Paliou's spouse, Andreas Michalopoulos, is an officer and director of the Issuer and owns and controls Mitzela Corp. |
| 3. The Series C Preferred Shares are convertible into the Issuer's Common Shares at any time at the option of the Reporting Person. |
| 4. The Series C Preferred Shares have no expiration date. |
| 5. Each Series C Preferred Share is convertible into a number of shares of Issuer's Common Stock determined by dividing (i) $25.00 plus the amount of any accrued and unpaid dividends thereon by (ii) a conversion price of $1.3576 per Common Share, subject to adjustment from time to time. |
| Remarks: |
| 24: Power of Attorney of Aliki Paliou dated March 13, 2026 |
| /s/ Karla von Felbinger, Attorney-in-Fact, pursuant to power of attorney attached hereto | 04/01/2026 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||
| * Form 3: SEC 1473 (03-26) | ||