Genco (GNK) CEO Exercises Options and Reports Share Sales on Sept 8-9, 2025

Rhea-AI Filing Summary

John C. Wobensmith, Chairman, CEO and President of Genco Shipping & Trading Limited (GNK), reported option exercises and sales on September 8-9, 2025. He exercised options to acquire 168,539 shares at an exercise price of $7.06, increasing his beneficial ownership to 674,370 shares immediately after the exercise. To cover the cashless exercise and tax obligations, 65,885 shares were withheld and additional shares were sold.

Subsequent sales on September 8 and 9, 2025 included 65,885 shares withheld for the cashless exercise and market sales of 52,000 and 10,752 shares at weighted average prices in ranges from $18.00–$18.18, leaving final reported beneficial ownership of 545,733 shares. The filing also discloses outstanding options and restricted stock units totaling the listed amounts.

Positive

• Exercise of options resulting in acquisition of 168,539 shares at a stated exercise price of $7.06
• Transparent disclosure of withholding and multiple sales with price ranges and post-transaction beneficial ownership

Negative

• Net decrease in beneficial ownership from 674,370 shares immediately after exercise to 545,733 shares following sales
• Significant share sales (totaling 128,637 shares sold/withheld on 9/8-9/9/2025) which reduce insider holdings

Insights

Financial Analyst

TL;DR: Insider exercised options for 168,539 shares at $7.06 then sold shares above $18, ending with 545,733 beneficial shares.

The filing shows the reporting person exercised in-the-money options and realized proceeds through sales at weighted-average prices between $18.00 and $18.18. The exercise increased gross holdings to 674,370 shares before withholding and market sales reduced beneficial ownership to 545,733 shares. Disclosed derivative holdings and multiple tranches of restricted stock units remain outstanding and vest on schedules noted in the filing. This is a routine Section 16 disclosure documenting option exercise, tax withholding, and market sales.

Corporate Governance Expert

TL;DR: The CEO’s Form 4 documents option exercise, issuer withholding for cashless exercise, and subsequent open-market sales to satisfy tax obligations.

The form clearly identifies the reporting person as Chairman, CEO and President and provides required detail on transaction codes, prices, and post-transaction beneficial ownership. Vesting schedules for multiple restricted stock unit grants and outstanding options are disclosed. All material transaction details are presented in accordance with Section 16 reporting requirements; no governance irregularities are stated in the filing itself.

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

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)

35 WEST 56TH STREET

(Street)

NEW YORK NY 10019

(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)
09/08/2025

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	09/08/2025		M(1)		168,539	A	$7.06	674,370	D
Common Stock	09/08/2025		S(2)		65,885	D	$18.06	608,485	D
Common Stock	09/08/2025		S(3)		52,000	D	$18.01(4)	556,485	D
Common Stock	09/09/2025		S(3)		10,752	D	$18.11(4)	545,733	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	(5)(6)							(6)	(6)	Common Stock	51,178		51,178	D
Restricted Stock Units	(5)(7)							(7)	(7)	Common Stock	25,684		25,684	D
Restricted Stock Units	(5)(8)							(8)	(8)	Common Stock	13,293		13,293	D
Restricted Stock Units	(5)(9)							(9)	(9)	Common Stock	67,524		67,524	D
Restricted Stock Units	(5)(10)							(10)	(10)	Common Stock	40,898		40,898	D
Option	$9.91							02/23/2022(11)	02/23/2027	Common Stock	69,284		69,284	D
Option	$7.06	09/08/2025		M(1)			168,539	02/25/2021(12)	02/25/2026	Common Stock	168,539	$0	0	D

Explanation of Responses:

1. Represents exercise of stock options held by the reporting person that were scheduled to expire, if not exercised, at 5:00 p.m. on February 25, 2026.

2. Represents shares withheld by the issuer for the cashless exercise of options for 168,539 shares of the issuer's common stock.

3. A majority of these shares were sold in order to satisfy the reporting person's tax obligations for shares of common stock received upon the exercise of options.

4. The prices reported in Column 4 are weighted average prices. The shares were sold in multiple transactions at prices ranging from $18.00 to $18.06 (inclusive) on September 8, 2025 and from $18.08 to $18.18 (inclusive) on September 9, 2025. 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.

5. 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.

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.

12. These options generally became exercisable in equal installments on each of the first three anniversaries of February 25, 2020.

	/s/ John C. Wobensmith	09/10/2025
	** 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).
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FAQ

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

The filing reports exercise of options for 168,539 shares at $7.06 on 09/08/2025, withholding of 65,885 shares for the cashless exercise, and market sales of 52,000 and 10,752 shares on 09/08/2025 and 09/09/2025.

What were the sale price ranges reported for the GNK share sales?

The filing reports weighted-average sale prices with individual sale prices in ranges of $18.00–$18.06 on September 8 and $18.08–$18.18 on September 9, 2025.

How many GNK shares did the insider own after these transactions?

The Form 4 shows final beneficial ownership of 545,733 shares following the exercise, withholding, and market sales.

Are there outstanding options and restricted stock units disclosed in the filing?

Yes. The filing discloses multiple restricted stock unit awards totaling specified amounts and outstanding options exercisable at various prices and expiration dates as listed in the form.

Why were some shares withheld by the issuer in this transaction?

The filing states 65,885 shares were withheld by the issuer to effect the cashless exercise of options for 168,539 shares.