<SEC-DOCUMENT>0000919574-23-005193.txt : 20230908
<SEC-HEADER>0000919574-23-005193.hdr.sgml : 20230908
<ACCEPTANCE-DATETIME>20230908165526
ACCESSION NUMBER:		0000919574-23-005193
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230908
DATE AS OF CHANGE:		20230908

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DORIAN LPG LTD.
		CENTRAL INDEX KEY:			0001596993
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36437
		FILM NUMBER:		231245927

	BUSINESS ADDRESS:	
		STREET 1:		27 SIGNAL ROAD
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06878
		BUSINESS PHONE:		203-978-1234

	MAIL ADDRESS:	
		STREET 1:		27 SIGNAL ROAD
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06878
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>d108091727_defa-14a.htm
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    <div style="text-align: center; font-family: inherit, Cambria, serif; font-size: 8pt; font-weight: bold;">UNITED STATES SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-family: inherit, Cambria, serif; font-size: 8pt; font-weight: bold;">WASHINGTON, D.C. 20549</div>
    <div style="text-align: center; font-family: inherit, Cambria, serif; font-size: 14pt; font-weight: bold;">SCHEDULE 14A</div>
    <div style="text-align: center; font-family: inherit, Cambria, serif; font-size: 8pt; font-weight: bold;">(Rule 14a-101)</div>
    <div style="text-align: center; font-family: inherit, Cambria, serif; font-size: 8pt; font-weight: bold;">Proxy Statement Pursuant to Section 14(a) of</div>
    <div style="text-align: center; font-family: inherit, Cambria, serif; font-size: 8pt; font-weight: bold;">the Securities Exchange Act of 1934</div>
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    <div style="font-family: inherit, Cambria, serif;">Filed by the Registrant <font style="font-family: 'Times New Roman', Times, serif;">&#9745;</font></div>
    <div style="font-family: inherit, Cambria, serif;">Filed by a Party other than the Registrant &#9744;</div>
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    <div style="font-family: inherit, Cambria, serif;">Check the appropriate box:</div>
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      <div><br>
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      &#9744; Preliminary Proxy Statement</div>
    <div style="font-family: inherit, Cambria, serif;">&#9744;<font style="font-family: Calibri, sans-serif;"> </font><font style="font-weight: bold;">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</font></div>
    <div style="font-family: inherit, Cambria, serif;">&#9744; Definitive Proxy Statement</div>
    <div style="font-family: inherit, Cambria, serif;"><font style="font-family: 'Times New Roman', Times, serif;">&#9745;</font> Definitive Additional Materials</div>
    <div style="font-family: inherit, Cambria, serif;">&#9744; Soliciting Material Pursuant to &#167;240.14a-12</div>
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    <div style="text-align: center;"><img src="image00001.jpg"></div>
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    <div style="text-align: center; font-family: inherit, Cambria, serif; font-size: 13.5pt; font-weight: bold;">Dorian LPG Ltd.</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 9pt; font-weight: bold;">(Name of Registrant as Specified in Charter)</div>
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    <div style="text-align: center; font-family: inherit, Cambria, serif; font-size: 7.5pt; font-weight: bold;">Not applicable <br>
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    <div style="text-align: center; font-family: inherit, Cambria, serif; font-size: 7.5pt; font-weight: bold;">(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</div>
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            <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt;">Payment of filing fee (Check all boxes that apply):</div>
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            <div style="color: #000000; font-family: 'Segoe UI Symbol', sans-serif;">&#9746;</div>
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          <td style="width: 97.7%; vertical-align: top;">
            <div style="text-align: justify; margin-left: 3pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt;">No fee required.</div>
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            <div style="color: #000000; font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</div>
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            <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt;">Fee paid previously with preliminary materials.</div>
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            <div style="color: #000000; font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</div>
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            <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt;">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.</div>
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    <div style="text-align: center; margin-top: 12pt; font-family: 'Times New Roman', serif; font-weight: bold;">EXPLANATORY NOTE</div>
    <div style="text-align: justify; margin-top: 12pt; font-family: 'Times New Roman', serif;">Dorian LPG Ltd (&#8220;Dorian&#8221;, the &#8220;Company&#8221;, &#8220;we&#8221;, &#8220;our&#8221; or &#8220;us&#8221;) is filing this supplement to Schedule 14A (this &#8220;Supplement&#8221;) to update the Company&#8217;s proxy
      statement for its 2023 Annual Meeting of Shareholders which was filed with the Securities and Exchange Commission (the &#8220;Commission&#8221;) on July 31, 2023 (the &#8220;Proxy Statement&#8221;). The purpose of this Supplement is to update information regarding the
      compensation of certain officers, directors and employees that was included in the sections entitled &#8220;Director Compensation&#8221; and &#8220;Executive Compensation&#8221; starting on pages 27 and 28 of the Proxy Statement, respectively.</div>
    <div style="text-align: justify; margin-top: 12pt; font-family: 'Times New Roman', serif;">Subsequent to filing the Proxy Statement, management of the Company received updated reports from the Company&#8217;s independent compensation consultant, Steven Hall
      &amp; Partners (&#8220;Steven Hall&#8221;), regarding the Company&#8217;s compensation with respect to its executive officers. In view of certain information included in the updated reports and other reports previously prepared by Steven Hall, management recommended
      the Compensation Committee of the Board of Directors (the &#8220;Board&#8221;) of the Company (the &#8220;Compensation Committee&#8221;) increase the compensation paid to John Lycouris for the year ended March 31, 2023 and the annual compensation paid to the Board&#8217;s
      non-executive directors. On August 22, 2023, the Compensation Committee agreed with management and resolved to (i) increase the annual compensation paid to the Board&#8217;s non-executive directors, (ii) approve grants by the Company of up to an aggregate
      of 20,000 restricted shares of the Company pursuant to the Company&#8217;s Amended and Restated 2014 Equity Incentive Plan (the &#8220;Plan&#8221;) to certain non-executive employees of the Company, and (iii) increase the discretionary cash bonus and restricted stock
      grant awarded to Mr. Lycouris for the year ended March 31, 2023, and also resolved to increase the discretionary cash bonus and restricted stock grant awarded to Mr. Hadjipateras for the same year, each subject to ratification by the Board (apart
      from Mr. Hadjipateras and Mr. Lycouris with respect to their compensation). On September 8, 2023, the Board (apart from Mr. Hadjipateras and Mr. Lycouris with respect to their compensation) ratified the Compensation Committee&#8217;s approvals.</div>
    <div style="text-align: justify; margin-top: 12pt; font-family: 'Times New Roman', serif;">In connection with the foregoing, the following was approved: (i) increases in the discretionary cash bonus payments to John C. Hadjipateras and John C. Lycouris
      from $1,000,00 to $1,225,000 and from $350,000 to $450,000, respectively; (ii) increases to the discretionary restricted share awards under the Plan granted to John C. Hadjipateras and John C. Lycouris from 72,500 restricted shares to 84,500
      restricted shares and from 30,000 restricted shares to 35,000 restricted shares, respectively; and (iii) an increase in the annual compensation paid to each non-executive director to $155,000 (100% as an equity award in a form determined by our
      Compensation Committee).</div>
    <div style="text-align: justify; margin-top: 12pt; font-family: 'Times New Roman', serif;">Except as specifically updated herein, all information in the Proxy Statement remains unchanged. No other changes have been made to the Proxy Statement.</div>
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