GNK Insider Filing: Kathleen Haines RSUs Vest on 08/25/2025
Rhea-AI Filing Summary
Kathleen C. Haines, a director of Genco Shipping & Trading Ltd (GNK), reported the vesting and resulting receipt of multiple restricted stock units (RSUs). On 08/25/2025 the filing records the acquisition (vesting) of nine RSU tranches that convert into common stock or equivalent value. Each vested tranche is shown with the number of common shares credited following the transaction: 115.54, 65.42, 135.64, 178.71, 69.06, 54, 74.76, 55.26, and 80.38 shares, corresponding to 13,140.7; 7,441; 15,426.51; 20,325.85; 7,854.96; 6,141.08; 8,503.09; 6,285.02; and 9,141.89 shares reported as beneficially owned following each vested tranche. The RSUs reflect prior grants that vested on specified dates between 2018 and 2025, and include additional RSUs granted in lieu of dividend cash payments as described in the explanations. The form is signed by Kathleen C. Haines on 08/26/2025.
Positive
- Compliance: Reporting person filed the Form 4 and signed it on 08/26/2025, fulfilling Section 16 reporting obligations
- Transparency: The filing details vesting dates and dividend-equivalent RSU calculations, providing clear disclosure on equity compensation
- Compensation realization: Multiple prior RSU grants vested, converting to specified common stock amounts and increasing direct beneficial ownership
Negative
- None.
Insights
TL;DR: Routine director RSU vesting increased reported direct holdings; no cash transactions or derivative exercises reported.
This Form 4 documents multiple vested restricted stock units credited to Kathleen C. Haines on 08/25/2025, with each tranche converted into shares (or equivalents) and reported as directly beneficially owned. The filing is procedural in nature: it records vesting events tied to prior grants with vest dates from 2018 through 2025 and notes dividend equivalents were paid as additional RSUs. There are no sales, purchases for cash, option exercises, or new derivative instruments disclosed, so the filing does not reflect ongoing trading activity or changes in compensation policy.
TL;DR: Vesting of existing long-term equity awards to a director; disclosure aligns with Section 16 reporting requirements.
The report shows compliance with Section 16 timing by a director reporting the conversion of previously granted RSUs into common stock equivalents. The explanatory footnotes explicitly list original vesting dates and the mechanics for dividend-equivalent RSUs. The entry style and signature indicate a single reporting person filing. From a governance perspective, these are standard equity-compensation disclosures and do not indicate governance changes, related-party transactions, or departures.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 115.54 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 65.42 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 135.64 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 178.71 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 69.06 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 54 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 74.76 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 55.26 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 80.38 | $0.00 | -- |
Footnotes (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 restricted stock unit vests. These RSUs vested on May 15, 2018. These RSUs vested on May 15, 2019. These RSUs vested on July 15, 2020. These RSUs vested on May 13, 2021. These RSUs vested on May 16, 2022. These RSUs vested on May 16, 2023. These RSUs vested on May 23, 2024. These RSUs vested on May 20, 2025. 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. 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.
