[Form 4] GENCO SHIPPING & TRADING LTD Insider Trading Activity
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
GENCO SHIPPING & TRADING LTD Chief Financial Officer Allen Peter George reported multiple equity award transactions. He exercised restricted stock units and options into common stock, including 2,178 options that were approaching their February 23, 2027 expiry and were exercised on a cashless basis.
Following these conversions, he acquired common shares and then sold 13,315 shares of common stock in open-market transactions at weighted average prices of $23.63 and $23.66 per share. The sales were executed under a pre-existing Rule 10b5-1 trading plan and were used to satisfy tax obligations related to vested restricted stock units. After the transactions, he directly held 66,702 shares of common stock and 24,863 restricted stock units.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 13,315 shares ($315,006)
Net Sell
15 txns
Insider
Allen Peter George
Role
Chief Financial Officer
Sold
13,315 shs ($315K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 10,101 | $0.00 | -- |
| Exercise | Restricted Stock Units | 5,962 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,306 | $0.00 | -- |
| Exercise | Restricted Stock Units | 3,323 | $0.00 | -- |
| Exercise | Restricted Stock Units | 5,145 | $0.00 | -- |
| Exercise | Option | 2,178 | $0.00 | -- |
| Exercise | Common Stock | 10,101 | $0.00 | -- |
| Exercise | Common Stock | 5,962 | $0.00 | -- |
| Exercise | Common Stock | 1,306 | $0.00 | -- |
| Exercise | Common Stock | 3,323 | $0.00 | -- |
| Exercise | Common Stock | 5,145 | $0.00 | -- |
| Exercise | Common Stock | 2,178 | $9.91 | $22K |
| Sale | Common Stock | 913 | $23.63 | $22K |
| Sale | Common Stock | 12,402 | $23.66 | $293K |
| holding | Restricted Stock Units | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 20,202 shares (Direct);
Option — 0 shares (Direct);
Common Stock — 62,103 shares (Direct)
Footnotes (1)
- The Reporting Person became entitled to receive shares of common stock in settlement of restricted stock units upon their vesting. 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 23, 2027. Represents shares withheld by the issuer for the cashless exercise of options for 2,178 shares of the issuer's common stock. 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. 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. 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 options generally become exercisable in equal installments on each of the first three anniversaries of February 23, 2021.
