GENCO (NYSE: GNK) CCO reports stock grants and 8,260-share sale
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
GENCO SHIPPING & TRADING LTD Chief Commercial Officer Jesper Christensen reported a mix of equity awards and share sales. On February 18, 2026, he acquired 17,208 shares of common stock at $0.00 per share as a grant or award, increasing his common stock holdings to 86,571 shares.
On the same date, he sold 8,260 common shares in an open-market transaction at a weighted average price of $23.27 per share, leaving 78,311 common shares held directly. The sale was executed under a pre-established Rule 10b5-1 trading plan to cover tax obligations related to vesting performance restricted stock units.
On February 16, 2026, he also received 24,863 restricted stock units as an award. Each restricted stock unit represents the right to receive one share of common stock or its cash value upon vesting, with various RSU grants scheduled to vest in equal installments on anniversaries of February 23, 2022–2026, subject to blackout or trading restrictions.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 8,260 shares ($192,210)
Net Sell
8 txns
Insider
Christensen Jesper
Role
Chief Commercial Officer
Sold
8,260 shs ($192K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 17,208 | $0.00 | -- |
| Sale | Common Stock | 8,260 | $23.27 | $192K |
| Grant/Award | Restricted Stock Units | 24,863 | $0.00 | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
Holdings After Transaction:
Common Stock — 86,571 shares (Direct);
Restricted Stock Units — 24,863 shares (Direct)
Footnotes (1)
- The Reporting Person became entitled to receive shares of common stock in settlement of performance restricted stock units upon their vesting. 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.61 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. 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. 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. 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. 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. 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. 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. 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.
FAQ
What insider transactions did GNK Chief Commercial Officer Jesper Christensen report?
Jesper Christensen reported both equity awards and a share sale. He received 17,208 common shares and 24,863 restricted stock units as grants, and sold 8,260 common shares in an open-market transaction, all recorded in mid-February 2026.
What new equity awards did Jesper Christensen receive from GENCO (GNK)?
He received 17,208 shares of common stock and 24,863 restricted stock units as equity awards. These awards carry no cash exercise cost and are structured to vest over time, subject to standard blackout-period or trading restriction postponements described in the disclosure.
How do Jesper Christensen’s GENCO (GNK) restricted stock units vest?
His restricted stock units generally vest in equal installments over three or five years from grant dates around February 23, 2022–2026. Vesting may be postponed if it falls during a company blackout period or other trading restriction, as outlined in the award terms.