E. Robert Hughes - Feb 23, 2023 Form 4 Insider Report for GENCO SHIPPING & TRADING LTD (GNK)

Role
Chief Operations Officer
Signature
/s/ Robert Hughes
Stock symbol
GNK
Transactions as of
Feb 23, 2023
Transactions value $
-$86,389
Form type
4
Date filed
2/27/2023, 08:01 PM
Previous filing
Dec 23, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GNK Common Stock Options Exercise +2.56K +344.47% 3.3K Feb 23, 2023 Direct F1
transaction GNK Common Stock Options Exercise +2.8K +84.99% 6.1K Feb 23, 2023 Direct F1
transaction GNK Common Stock Sale -$49.8K -2.57K -42.16% $19.36 3.53K Feb 23, 2023 Direct F2, F3
transaction GNK Common Stock Options Exercise +3.94K +111.5% 7.46K Feb 25, 2023 Direct F1
transaction GNK Common Stock Sale -$36.6K -1.89K -25.29% $19.39 5.58K Feb 27, 2023 Direct F4, F5

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 -2.56K -20% $0.00 10.2K Feb 23, 2023 Common Stock 2.56K Direct F6, F8
transaction GNK Restricted Stock Units Options Exercise $0 -2.8K -50% $0.00 2.8K Feb 23, 2023 Common Stock 2.8K Direct F1, F6, F9
transaction GNK Restricted Stock Units Options Exercise $0 -3.94K -100% $0.00* 0 Feb 25, 2023 Common Stock 3.94K Direct F1, F6, F11
holding GNK Restricted Stock Units 16.1K Feb 23, 2023 Common Stock 16.1K Direct F6, F7
holding GNK Option 6.42K Feb 23, 2023 Common Stock 6.42K $9.91 Direct F10
holding GNK Option 7.8K Feb 23, 2023 Common Stock 7.8K $7.06 Direct F12
* 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 settled in shares of the issuer's common stock on February 23, 2023.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.7308 to $19.7750 (inclusive) on February 23, 2023. 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 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 settled in shares of the issuer's common stock on February 25, 2023.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.245 to $19.675 (inclusive) on February 27, 2023. 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.
F6 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.
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 five 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 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.
F12 These options generally became exercisable in equal installments on each of the first three anniversaries of February 25, 2020.