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

Signature
/s/ Joseph Adamo
Stock symbol
GNK
Transactions as of
Feb 21, 2024
Transactions value $
-$119,245
Form type
4
Date filed
2/23/2024, 09:17 PM
Previous filing
Apr 17, 2023
Next filing
Mar 1, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GNK Common Stock Options Exercise +2.56K +23.27% 13.5K Feb 23, 2024 Direct F1
transaction GNK Common Stock Options Exercise +6.43K +47.49% 20K Feb 23, 2024 Direct F1
transaction GNK Common Stock Options Exercise +2.56K +12.8% 22.5K Feb 23, 2024 Direct F1
transaction GNK Common Stock Options Exercise +673 +2.99% 23.2K Feb 23, 2024 Direct F1
transaction GNK Common Stock Sale -$119K -6K -25.86% $19.87 17.2K Feb 23, 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 +6.88K $0.00 6.88K Feb 21, 2024 Common Stock 6.88K Direct F1, F4, F5
transaction GNK Restricted Stock Units Disposed to Issuer $0 +2.56K +99.96% $0.00 5.11K Feb 23, 2024 Common Stock 2.56K Direct F1, F4, F6
transaction GNK Restricted Stock Units Disposed to Issuer $0 +6.43K +100% $0.00 12.9K Feb 23, 2024 Common Stock 6.43K Direct F1, F4, F7
transaction GNK Restricted Stock Units Disposed to Issuer $0 +2.56K $0.00 2.56K Feb 23, 2024 Common Stock 2.56K Direct F1, F4, F8
transaction GNK Restricted Stock Units Disposed to Issuer $0 +673 $0.00* 0 Feb 23, 2024 Common Stock 673 Direct F1, F4, F9
holding GNK Option 1.54K Feb 21, 2024 Common Stock 1.54K $9.91 Direct F10
holding GNK Option 1.87K Feb 21, 2024 Common Stock 1.87K $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.