This is for one (1) quality marine grade stainless steel (AISI 316) Round Pad with eye. The 5/16" dimension refers to the diameter of the wire in the loop. Each pad is stamped 316. Not to be used for overhead lifting. AISI 316 stainless is a premium grade of stainless and is considered by many to be best in class. 316 stainless is corrosion resistant and very durable even in the harshest of conditions.