SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
	Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person* Hajioannou Polys (Last) (First) (Middle) APT. D11, LES ACANTHES 6, AVENUE DES CITRONNIERS (Street) MONTE CARLO MC98000 (City) (State) (Zip) MONACO (Country)	2. Issuer Name and Ticker or Trading Symbol SAFE BULKERS, INC. [ SB ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director X 10% Owner X Officer (give title below) Other (specify below) Chief Executive Officer
	2a. Foreign Trading Symbol
	3. Date of Earliest Transaction (Month/Day/Year) 09/11/2026	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person
	4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/11/2026		A(1)		1,500,000	A	(1)	1,500,000	I	See Footnotes(2)(3)
Common Stock								19,426,015	I	See Footnotes(2)(4)
Common Stock								8,555,412	I	See Footnotes(2)(5)
Common Stock								5,400,000	I	See Footnotes(2)(6)
Common Stock								5,000,000	I	See Footnotes(2)(7)
Common Stock								5,000,000	I	See Footnotes(2)(8)
Common Stock								5,000,000	I	See Footnotes(2)(9)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. On September 9, 2026, Moutoulas Shipping Corporation ("Moutoulas") agreed to acquire from the Issuer, in a private placement, 1,500,000 shares of Common Stock, at a price of (euro) 6.70 per share (approximately equivalent to $7.81 per share, at an exchange reference rate of (euro)1 to $1.1652 as published by the European Central Bank for September 9, 2026), which acquisition settled on September 11, 2026.

2. Mr. Hajioannou disclaims any beneficial ownership of any of the equity securities of the Issuer reported on this Form 4 (the "Subject Securities"), except to the extent of any pecuniary interest therein.

3. These Subject Securities are held by Moutoulas. Mr. Hajioannou is the President and Director of Moutoulas and may be deemed to be the beneficial owner of the Subject Securities held by Moutoulas for purposes of Rule 16a-1(a) under the Securities and Exchange Act of 1934, as amended ("Rule 16a-1(a)").

4. These Subject Securities are held by Vorini Holdings Inc. ("Vorini"). Mr. Hajioannou is the President and Director of Vorini and may be deemed to be the beneficial owner of the Subject Securities held by Vorini for purposes of Rule 16a-1(a).

5. These Subject Securities are held by Akamas Maritime Inc. ("Akamas"). Mr. Hajioannou is the President and Director of Akamas and may be deemed to be the beneficial owner of the Subject Securities held by Akamas for purposes of Rule 16a-1(a).

6. These Subject Securities are held by Chalkoessa Maritime Inc. ("Chalkoessa"). Mr. Hajioannou is the President and Director of Chalkoessa and may be deemed to be the beneficial owner of the Subject Securities held by Chalkoessa for purposes of Rule 16a-1(a).

7. These Subject Securities are held by Lefkoniko Maritime Inc. ("Lefkoniko"). Mr. Hajioannou is the President and Director of Lefkoniko and may be deemed to be the beneficial owner of the Subject Securities held by Lefkoniko for purposes of Rule 16a-1(a).

8. These Subject Securities are held by Kyperounta Maritime Inc. ("Kyperounta"). Mr. Hajioannou is the President and Director of Kyperounta and may be deemed to be the beneficial owner of the Subject Securities held by Kyperounta for purposes of Rule 16a-1(a).

9. These Subject Securities are held by Bellapais Maritime Inc. ("Bellapais"). Mr. Hajioannou is the President and Director of Bellapais and may be deemed to be the beneficial owner of the Subject Securities held by Bellapais for purposes of Rule 16a-1(a).

	/s/ Polys Hajioannou	09/14/2026
	** 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 4 (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).
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* Form 4: SEC 1474 (03-26)