Genco Shipping (NYSE: GNK) director logs RSU dividend equivalents

Rhea-AI Filing Summary

Genco Shipping & Trading Ltd. director Basil G. Mavroleon reported insider transactions dated November 24, 2025 on a Form 4. The filing shows a disposition of common stock and multiple acquisitions of derivative securities in the form of restricted stock units (RSUs) credited for no cash consideration.

Each RSU represents the right to receive one share of Genco common stock, or at the Compensation Committee’s discretion, the cash value of a share on the vesting date. The RSUs referenced in the footnotes include grants that vested on various dates from May 18, 2016 through May 20, 2025, plus an award that generally vests on the earlier of the next annual shareholders meeting after May 20, 2025 or fourteen months after that grant date.

Additional RSUs were granted in lieu of cash dividends on the underlying common stock, with the number of RSUs calculated by dividing the dividend amount by the common stock closing price on each dividend payment date.

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).

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^*

MAVROLEON BASIL G

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/24/2025

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								739	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	(1)(2)	11/24/2025		A		14.23(13)		(2)	(2)	Common Stock	14.23	$0	1,835.36	D
Restricted Stock Units	(1)(3)	11/24/2025		A		203.82(13)		(3)	(3)	Common Stock	203.82	$0	26,278.71	D
Restricted Stock Units	(1)(4)	11/24/2025		A		102.72(13)		(4)	(4)	Common Stock	102.72	$0	13,243.42	D
Restricted Stock Units	(1)(5)	11/24/2025		A		58.16(13)		(5)	(5)	Common Stock	58.16	$0	7,499.16	D
Restricted Stock Units	(1)(6)	11/24/2025		A		120.58(13)		(6)	(6)	Common Stock	120.58	$0	15,547.1	D
Restricted Stock Units	(1)(7)	11/24/2025		A		158.88(13)		(7)	(7)	Common Stock	158.88	$0	20,484.73	D
Restricted Stock Units	(1)(8)	11/24/2025		A		61.4(13)		(8)	(8)	Common Stock	61.4	$0	7,916.36	D
Restricted Stock Units	(1)(9)	11/24/2025		A		48(13)		(9)	(9)	Common Stock	48	$0	6,189.08	D
Restricted Stock Units	(1)(10)	11/24/2025		A		66.46(13)		(10)	(10)	Common Stock	66.46	$0	8,569.55	D
Restricted Stock Units	(1)(11)	11/24/2025		A		49.13(13)		(11)	(11)	Common Stock	49.13	$0	6,334.15	D
Restricted Stock Units	(1)(12)	11/24/2025		A		71.46(13)		(12)	(12)	Common Stock	71.46	$0	9,213.35	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") 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 RSU vests.

2. These RSUs vested on May 18, 2016.

3. These RSUs vested on May 17, 2017.

4. These RSUs vested on May 15, 2018.

5. These RSUs vested on May 15, 2019.

6. These RSUs vested on July 15, 2020.

7. These RSUs vested on May 13, 2021.

8. These RSUs vested on May 16, 2022.

9. These RSUs vested on May 16, 2023.

10. These RSUs vested on May 23, 2024.

11. These RSUs vested on May 20, 2025.

12. These RSUs generally vest on the earlier of (i) the date of the annual shareholders meeting of the issuer next following the May 20, 2025 grant date and (ii) the date that is fourteen months after the grant date.

13. Represents additional RSUs granted in lieu of the right to receive the amount of cash dividends paid on the common stock underlying the previously outstanding RSUs pursuant to the terms of the governing RSU agreements. The number of additional RSUs is calculated by dividing the amount of the dividend by the closing price per share of the issuer's common stock on the dividend payment date.

	/s/ Basil G. Mavroleon	11/26/2025
	** Signature of Reporting Person	Date
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FAQ

What insider activity did GNK director Basil G. Mavroleon report?

The Form 4 reports that Basil G. Mavroleon, a director of Genco Shipping & Trading Ltd. (GNK), had a disposition of common stock and multiple acquisitions of restricted stock units (RSUs) as of November 24, 2025.

What does each restricted stock unit represent for GNK?

Each restricted stock unit (RSU) represents the right to receive one share of Genco common stock, or, at the issuer’s Compensation Committee’s sole discretion, the cash value of a share on the date the RSU vests.

How were the additional GNK RSUs related to dividends calculated?

Footnote 13 states that additional RSUs were granted in lieu of cash dividends on the common stock underlying previously outstanding RSUs. The number of additional RSUs is calculated by dividing the dividend amount by the closing price per share of Genco common stock on the dividend payment date.

Over what period did the GNK RSUs mentioned in the filing vest?

The RSUs referenced in the footnotes vested on several dates, including May 18, 2016, May 17, 2017, May 15, 2018, May 15, 2019, July 15, 2020, May 13, 2021, May 16, 2022, May 16, 2023, May 23, 2024, and May 20, 2025.

When do the most recent GNK director RSUs generally vest?

According to footnote 12, the RSUs granted on May 20, 2025 generally vest on the earlier of (i) the date of Genco’s next annual shareholders meeting following that grant date and (ii) the date that is fourteen months after the grant date.

Did the GNK director pay cash for the RSUs reported on this Form 4?

The derivative securities table shows the price of each RSU as $0, indicating these RSUs were credited without cash payment by the director, including those granted as dividend equivalents under the governing RSU agreements.