Joseph Adamo - 21 Feb 2024 Form 4 Insider Report for GENCO SHIPPING & TRADING LTD (GNK)

Signature
/s/ Joseph Adamo
Issuer symbol
GNK
Transactions as of
21 Feb 2024
Transactions value $
-$119,245
Form type
4
Filing time
23 Feb 2024, 21:17:52 UTC
Previous filing
17 Apr 2023
Next filing
01 Mar 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GNK Common Stock Options Exercise +2,556 +23% 13,542 23 Feb 2024 Direct F1
transaction GNK Common Stock Options Exercise +6,431 +47% 19,973 23 Feb 2024 Direct F1
transaction GNK Common Stock Options Exercise +2,556 +13% 22,529 23 Feb 2024 Direct F1
transaction GNK Common Stock Options Exercise +673 +3% 23,202 23 Feb 2024 Direct F1
transaction GNK Common Stock Sale -$119,244 -6,000 -26% $19.87 17,202 23 Feb 2024 Direct F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction GNK Restricted Stock Units Award $0 +6,879 $0 6,879 21 Feb 2024 Common Stock 6,879 Direct F1, F4, F5
transaction GNK Restricted Stock Units Disposed to Issuer $0 +2,556 +100% $0 5,113 23 Feb 2024 Common Stock 2,556 Direct F1, F4, F6
transaction GNK Restricted Stock Units Disposed to Issuer $0 +6,431 +100% $0 12,862 23 Feb 2024 Common Stock 6,431 Direct F1, F4, F7
transaction GNK Restricted Stock Units Disposed to Issuer $0 +2,556 $0 2,556 23 Feb 2024 Common Stock 2,556 Direct F1, F4, F8
transaction GNK Restricted Stock Units Disposed to Issuer $0 +673 $0* 0 23 Feb 2024 Common Stock 673 Direct F1, F4, F9
holding GNK Option 1,540 21 Feb 2024 Common Stock 1,540 $9.91 Direct F10
holding GNK Option 1,873 21 Feb 2024 Common Stock 1,873 $7.06 Direct F11
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person became entitled to receive shares of common stock in settlement of restricted stock units upon their vesting.
F2 These shares were sold in order to satisfy the reporting person's tax obligations for restricted stock units that vested on February 23, 2024.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.935 to $19.765 (inclusive) on February 23, 2024. The reporting person undertakes to provide to Genco Shipping & Trading Limited, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
F4 Each restricted stock unit represents the right to receive one share of the issuer's common stock, or in the sole discretion of the issuer's Compensation Committee, the value of a share of common stock on the date that the restricted stock unit vests.
F5 These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 23, 2024, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
F6 These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 23, 2023, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
F7 These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 23, 2023, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
F8 These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 23, 2022, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
F9 These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 23, 2021, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
F10 These options generally become exercisable in equal installments on each of the first three anniversaries of February 23, 2021.
F11 These options generally became exercisable in equal installments on each of the first three anniversaries of February 25, 2020.