Genco (NYSE: GNK) CEO sells 39,244 shares to cover RSU tax bill

Rhea-AI Filing Summary

GENCO SHIPPING & TRADING LTD Chairman, CEO, and President John C. Wobensmith reported multiple equity award events on February 23, 2026. Several grants of restricted stock units (RSUs) were exercised or converted at $0.00 per unit into common stock, consistent with prior award terms.

Following these conversions, his directly held common stock position rose before he executed an open-market sale of 39,244 common shares at a weighted average price of $23.66 per share, within a range of $23.19–$24.07. According to the footnotes, this sale was made under a pre-established Rule 10b5-1 trading plan to satisfy tax obligations arising from RSUs that vested on February 23, 2026.

After the sale, he directly owned 564,617 common shares, along with 41,770 RSUs and 69,284 options that remain subject to multi-year vesting or exercisability schedules tied to past grant dates.

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

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

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)
02/23/2026

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	02/23/2026		M		17,059	A	(1)	542,434	D
Common Stock	02/23/2026		M		12,842	A	(1)	555,276	D
Common Stock	02/23/2026		M		13,293	A	(1)	568,569	D
Common Stock	02/23/2026		M		22,508	A	(1)	591,077	D
Common Stock	02/23/2026		M		12,784	A	(1)	603,861	D
Common Stock	02/23/2026		S		39,244(2)	D	$23.66(3)	564,617	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)							(5)	(5)	Common Stock	41,770(4)		41,770	D
Restricted Stock Units	(1)(4)(6)	02/23/2026		M			17,059	(6)	(6)	Common Stock	17,059(4)	$0	34,119	D
Restricted Stock Units	(1)(4)(7)	02/23/2026		M			12,842	(7)	(7)	Common Stock	12,842(4)	$0	12,843	D
Restricted Stock Units	(1)(4)(8)	02/23/2026		M			13,293	(8)	(8)	Common Stock	13,293(4)	$0	0	D
Restricted Stock Units	(1)(4)(9)	02/23/2026		M			22,508	(9)	(9)	Common Stock	22,508(4)	$0	45,016	D
Restricted Stock Units	(1)(4)(10)	02/23/2026		M			12,784	(10)	(10)	Common Stock	12,784(4)	$0	12,776	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 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 restricted stock units that vested on February 23, 2026.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $23.19 to $24.07 (inclusive) on February 23, 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 become exercisable in equal installments on each of the first three anniversaries of February 23, 2021.

	/s/ John C. Wobensmith	02/23/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What insider transactions did GNK CEO John C. Wobensmith report on this Form 4?

John C. Wobensmith reported multiple conversions of restricted stock units into common stock and an open-market sale of 39,244 common shares. The equity award activity reflects vesting of prior grants, while the sale was executed under a Rule 10b5-1 trading plan.

How many Genco Shipping (GNK) shares did the CEO sell and at what price?

He sold 39,244 common shares at a weighted average price of $23.66 per share. The transactions occurred between $23.19 and $24.07 on February 23, 2026, with full trade-level detail available to the company and regulators upon request.

Why did the GNK CEO sell 39,244 shares according to the Form 4 footnotes?

The footnotes state these 39,244 shares were sold under a pre-existing Rule 10b5-1 trading plan. The purpose was to satisfy John C. Wobensmith’s tax obligations related to restricted stock units that vested on February 23, 2026, rather than discretionary selling.

What is the GNK CEO’s direct ownership after the reported Form 4 transactions?

After the reported transactions, John C. Wobensmith directly owned 564,617 shares of common stock. He also held 41,770 restricted stock units and 69,284 options, which are subject to vesting or exercisability schedules tied to prior grant dates.

How do the GNK CEO’s restricted stock units convert into common shares?

Each restricted stock unit generally represents the right to receive one share of common stock, or its cash value, when it vests. The units vest in scheduled installments over several years following grant dates, with settlement possibly postponed during blackout or trading restriction periods.

What vesting schedule applies to the GNK CEO’s more recent RSU grants?

Certain RSU grants generally vest in equal installments on each of the first three anniversaries of February 23, 2024, 2025, or 2026. Other grants vest over five years with specified annual percentages, all subject to possible settlement postponement during blackout periods or trading restrictions.