John C. Wobensmith - Mar 4, 2022 Form 4 Insider Report for GENCO SHIPPING & TRADING LTD (GNK)

Role
CEO, President and Secretary, Director
Signature
/s/ John C. Wobensmith
Stock symbol
GNK
Transactions as of
Mar 4, 2022
Transactions value $
-$200,863
Form type
4
Date filed
3/4/2022, 06:00 PM
Previous filing
Feb 25, 2022
Next filing
Mar 10, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GNK Common Stock Options Exercise +19.7K +5.05% 409K Mar 4, 2022 Direct F1
transaction GNK Common Stock Sale -$201K -9.93K -2.43% $20.22 399K Mar 4, 2022 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 Options Exercise $0 -19.9K -100% $0.00* 0 Mar 4, 2022 Common Stock 19.9K Direct F1, F4, F10
holding GNK Restricted Stock Units 71.6K Mar 4, 2022 Common Stock 71.6K Direct F4, F5
holding GNK Restricted Stock Units 40.4K Mar 4, 2022 Common Stock 40.4K Direct F4, F6
holding GNK Option 69.3K Mar 4, 2022 Common Stock 69.3K $9.91 Direct F7
holding GNK Restricted Stock Units 28.3K Mar 4, 2022 Common Stock 28.3K Direct F4, F8
holding GNK Option 169K Mar 4, 2022 Common Stock 169K $7.06 Direct F9
holding GNK Option 135K Mar 4, 2022 Common Stock 135K $8.07 Direct F11
holding GNK Option 65.8K Mar 4, 2022 Common Stock 65.8K $13.37 Direct F12
holding GNK Option 133K Mar 4, 2022 Common Stock 133K $10.81 Direct F13
* 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 under instructions given in a previously existing plan established in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in order to satisfy the reporting person's tax obligations for restricted stock units that vested on March 4, 2022.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.67 to $20.6793 (inclusive) on March 4, 2022. 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 installments of 21.43% per annum on each of the first three anniversaries of February 23, 2022, 17.86% on the fourth such anniversary, and 17.85% on the fifth such anniversary, 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, 2021, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
F7 These options generally become exercisable in equal installments on each of the first three anniversaries of February 23, 2021.
F8 These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 25, 2020, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
F9 These options generally become exercisable in equal installments on each of the first three anniversaries of February 25, 2020.
F10 These restricted stock units generally vest in equal installments on each of the first three anniversaries of March 4, 2019, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
F11 These options generally become exercisable in equal installments on each of the first three anniversaries of March 4, 2019.
F12 These options generally became exercisable in equal installments on each of the first three anniversaries of February 27, 2018.
F13 These options generally became exercisable in equal installments on each of the first three anniversaries of October 15, 2016.