GNK CEO Wobensmith grants and 10b5-1 share sale at GENCO (NYSE: GNK)

Rhea-AI Filing Summary

GENCO SHIPPING & TRADING LTD Chairman, CEO, and President John C. Wobensmith reported both equity awards and a share sale. On February 18, 2026, he acquired 37,284 shares of common stock at $0.00 per share as a grant/award tied to performance restricted stock units that vested. That same day he sold 18,642 shares of common stock in open-market transactions at a weighted average price of $23.26 per share, under a pre-established Rule 10b5-1 trading plan, to satisfy tax obligations for vested performance restricted stock units. Following these transactions, his directly held common stock position was 525,375 shares. The filing also shows outstanding restricted stock unit and option holdings with scheduled vesting and exercisability dates over multiple future anniversaries of February 23.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

WOBENSMITH JOHN C

(Last) (First) (Middle)

C/O GENCO SHIPPING & TRADING LIMITED

299 PARK AVENUE, 12TH FLOOR

(Street)

NEW YORK NY 10171

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GENCO SHIPPING & TRADING LTD [ GNK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman, CEO, and President

3. Date of Earliest Transaction (Month/Day/Year)
02/16/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/18/2026		A(1)		37,284	A	(1)	544,017	D
Common Stock	02/18/2026		S(2)		18,642	D	$23.26(3)	525,375	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(4)(5)	02/16/2025		A		41,770		(5)	(5)	Common Stock	41,770(4)	$0	41,770	D
Restricted Stock Units	(4)(6)							(6)	(6)	Common Stock	51,178(4)		51,178	D
Restricted Stock Units	(4)(7)							(7)	(7)	Common Stock	25,684(4)		25,684	D
Restricted Stock Units	(4)(8)							(8)	(8)	Common Stock	13,293(4)		13,293	D
Restricted Stock Units	(4)(9)							(9)	(9)	Common Stock	67,524(4)		67,524	D
Restricted Stock Units	(4)(10)							(10)	(10)	Common Stock	25,560(4)		25,560	D
Option	$9.91							02/23/2022(11)	02/23/2027	Common Stock	69,284		69,284	D

Explanation of Responses:

1. The Reporting Person became entitled to receive shares of common stock in settlement of performance restricted stock units upon their vesting.

2. 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 performance restricted stock units that vested on February 18, 2026.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.57 to $23.67 (inclusive) on February 18, 2026. 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.

4. 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.

5. These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 23, 2026, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.

6. These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 23, 2025, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.

7. 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.

8. 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.

9. These restricted stock units generally vest in equal installments on each of the first five anniversaries of February 23, 2023, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.

10. 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.

11. These options generally became exercisable in equal installments on each of the first three anniversaries of February 23, 2021.

	/s/ John C. Wobensmith	02/18/2026
	** Signature of Reporting Person	Date
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FAQ

What did GNK Chairman and CEO John Wobensmith report in this Form 4?

John Wobensmith reported both an equity award and a share sale. He received 37,284 GNK common shares as a grant and sold 18,642 shares in open-market transactions, all reflected as direct ownership changes in this insider filing.

How many GENCO SHIPPING & TRADING (GNK) shares did the CEO sell and at what price?

He sold 18,642 GNK common shares. The weighted average sale price was $23.26 per share, with individual trades executed between $22.57 and $23.67 on February 18, 2026, according to the detailed pricing footnote.

Why were John Wobensmith’s GNK shares sold under a Rule 10b5-1 plan?

The shares were sold under instructions in a pre-existing Rule 10b5-1 trading plan. The filing states the purpose was to satisfy his tax obligations arising from performance restricted stock units that vested on February 18, 2026.

What equity award did the GNK CEO receive in this insider transaction?

He became entitled to 37,284 GNK common shares at $0.00 per share. The filing explains these shares were issued upon vesting and settlement of performance restricted stock units, effectively converting those units into common stock.

How many GNK common shares does the CEO own after these reported transactions?

After the reported grant and sale, John Wobensmith directly owned 525,375 GNK common shares. This figure reflects his updated common stock holdings following the February 18, 2026 award and the same-day open-market sale.

What restricted stock unit and option holdings are disclosed for the GNK CEO?

The filing lists several restricted stock unit and option positions with specified totals after transactions. Footnotes describe vesting schedules in equal installments on future anniversaries of February 23 and prior years, and separate options that became exercisable over three anniversaries starting February 23, 2021.