Absolutely correct Mitchell. The waxed sheath is also different in 2 ways. The Model #14 has the "double stitching" verses single on a Model #16's. The hone pocket is not standard on a Diver's sheath. It gets "really" confusing when you order a Model #14 made up like this one...and waxed "no hone" sheath. The double stitching is still present but the entire package is quite close in look.
One more difference, not shown here is the fact that the #16 is available with the shop-supplied nylon sheath. Although I have had a few #14's slip into this nylon sheath, they are usually too long and almost always too wide. That's a great #14 you've got there and it will work just as well to dive with as the original "Diver's" knife. The same can be said for a Model #15-5 1/2"...Hope this helps.
Best, Capt. Chris