11:06 AM EDT, 05/30/2024 (MT Newswires) -- Nordic American Tankers ( NAT ) said Alexander Hansson, the non-executive vice chairman, bought 350,000 company shares at $4.0029 each for $1.4 million.

Hansson owns 3 million shares after the transactions, his father Herbjorn Hansson, the company founder, chairman and chief executive officer, said Thursday in a letter to shareholders.

The Hansson family continues to be the largest private shareholder group, according to the letter.

The company's shares rose 4% in recent trading Thursday.

Price: 4.02, Change: +0.16, Percent Change: +4.02