John C. Wobensmith - Mar 8, 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 8, 2022
Transactions value $
-$536,000
Form type
4
Date filed
3/10/2022, 08:00 PM
Previous filing
Mar 4, 2022
Next filing
May 25, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GNK Common Stock Options Exercise $879K +65.8K +16.85% $13.37 456K Mar 8, 2022 Direct
transaction GNK Common Stock Tax liability -$879K -41.1K -8.84% $21.38 424K Mar 8, 2022 Direct F1
transaction GNK Common Stock Sale -$536K -25K -5.89% $21.44 399K Mar 8, 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 Option Options Exercise $0 -65.8K -100% $0.00* 0 Mar 8, 2022 Common Stock 65.8K $13.37 Direct F11
holding GNK Restricted Stock Units 71.6K Mar 8, 2022 Common Stock 71.6K Direct F4, F5
holding GNK Restricted Stock Units 40.4K Mar 8, 2022 Common Stock 40.4K Direct F4, F6
holding GNK Option 69.3K Mar 8, 2022 Common Stock 69.3K $9.91 Direct F7
holding GNK Restricted Stock Units 28.3K Mar 8, 2022 Common Stock 28.3K Direct F4, F8
holding GNK Option 169K Mar 8, 2022 Common Stock 169K $7.06 Direct F9
holding GNK Option 135K Mar 8, 2022 Common Stock 135K $8.07 Direct F10, F11
holding GNK Option 133K Mar 8, 2022 Common Stock 133K $10.81 Direct F12
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares withheld by the issuer for the cashless exercise of options for 65,789 shares of the issuer's common stock.
F2 A portion of these shares were sold in order to satisfy the reporting person's tax obligations for shares of common stock of the issuer that the reporting person received from the exercise of stock options on March 8, 2022.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $21.34 to $21.60 (inclusive) on March 8, 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 options generally become exercisable in equal installments on each of the first three anniversaries of March 4, 2019.
F11 These options generally became exercisable in equal installments on each of the first three anniversaries of February 27, 2018.
F12 These options generally became exercisable in equal installments on each of the first three anniversaries of October 15, 2016.