Home > Insider Trading > Filing (0001140361-12-007006)

Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
278041	International Shipholding Corp	ISH	Deep Sea Foreign Transportation Of Freight (4412)	362989662

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
903342	F Erik Johnsen	11 North Water Street Suite 18290 Mobile AL 36602		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2011-11-22	25,369	$0.00	66,087	No	4	G	Indirect	By LLC
Common Stock	Disposition	2011-11-22	47,796	$0.00	18,291	No	4	S	Indirect	By LLC

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	G	Indirect	By LLC
No	4	S	Indirect	By LLC

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	110,050	Direct
Common Stock	775	Indirect	See footnote

Footnotes

On October 27, 2011, the reporting person transferred 91,456 shares of his directly-held shares to EFJ Family Investments, LLC, a limited liability company (the "LLC"). At the time of transfer, the reporting person was the sole member and manager of the LLC.
On November 22, 2011, the reporting person (a) made gifts totaling an approximate 27.7% ownership interest in the LLC to four family trusts and a non-profit entity and (b) sold an approximate 52.3% interest in the LLC to the same four family trusts, in exchange for a promissory note from each in the principal amount of $750,000 (total $3 million). Each of the four promissory notes accrues simple interest at an annual rate of 1.20% and requires annual interest payments by the respective trust, with the principal amount plus any accrued but unpaid interest to be paid in full on November 22, 2020.
The reported securities are among the assets held by the LLC, a limited liability company of which the reporting person is a member and manager. The reporting person disclaims beneficial ownership of the ISH common stock held by the LLC except to the extent of his pecuniary interest therein.
As General Partner of Limited Partnership.