LPG DORIAN LPG LTD.

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 3/4 quarters. Q1 2026: $2M, Q3 2026: $0M, Q2 2026: $2M, Q3 2025: $0M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $2M vs trailing avg $1M (+119%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Buyback $4M / FCF $24M = 18% of FCF

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 7,150,000 shares = 16.7% of 42,747,720 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

1 open-market purchase by HADJIPATERAS JOHN C

• HADJIPATERAS JOHN C (President and CEO) bought 15,000 shares at $27.30 on 2026-01-07

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 3 quarters but insufficient insider buying

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $3M in the last 90 days (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 7.3x more than bought. 3 C-suite officers among sellers

• Young Theodore B. (Chief Financial Officer) sold 10,000 shares on 2026-02-18
• Hansen Tim Truels (Chief Commercial Officer) sold 35,000 shares on 2026-02-18
• Hansen Tim Truels (Chief Commerical Officer) sold 25,000 shares on 2026-01-14
• Hadjipateras Alexander C. (Chief Operating Officer) sold 5,000 shares on 2025-09-16
• Hadjipateras Alexander C. (Chief Operating Officer) sold 5,000 shares on 2025-08-27