Genco (GNK) Insider Filing: Multiple RSUs Converted; 739 Shares Disposed

Rhea-AI Filing Summary

Basil G. Mavroleon, a director of Genco Shipping & Trading Ltd (GNK), reported routine changes in beneficial ownership on Form 4 dated 08/26/2025 reflecting transactions on 08/25/2025. The filing shows a disposition of 739 shares of common stock and multiple restricted stock unit (RSU)-related transactions recorded as acquisitions (vesting/conversion) with zero dollar price, representing the receipt of shares underlying vested RSUs granted in prior years (2016–2025). The RSU entries list tranche-by-tranche underlying share amounts (from 54 to 1,821.13) and aggregate beneficially owned share amounts following each reported acquisition line. Explanatory notes state each RSU converts to one common share or cash at the Compensation Committee’s discretion and that some RSUs were granted in lieu of dividend cash.

Positive

• Director alignment with shareholders via RSU vesting—multiple RSU tranches converted to underlying shares, reinforcing equity-based incentives
• Transparent disclosure—the Form 4 clearly itemizes vesting dates (2016–2025) and the mechanics of dividend-equivalent RSUs

Negative

• Minor disposition—a reported sale/disposition of 739 common shares reduced the director's direct holding
• Limited material impact—transactions are compensation-related and do not provide new information about company operations or financial performance

Insights

Financial Analyst

TL;DR: Director reported routine RSU vesting and a small disposition; this is a standard compensation-related ownership update.

The Form 4 documents vesting-related acquisitions of shares tied to RSUs granted over 2016–2025 and a single reported disposition of 739 common shares. The RSU entries are recorded at $0, consistent with vesting/conversion rather than open-market purchases. These transactions appear compensatory and administrative in nature rather than signaling major portfolio reallocation. For investors, such filings primarily update insider alignment with equity incentives and do not by themselves indicate material company events.

Corporate Governance Expert

TL;DR: The filing reflects standard equity compensation vesting and a small share disposition; governance implications are routine.

The filing clarifies that multiple historical RSU grants vested or converted, increasing reportable beneficial ownership lines, while a separate line shows a 739-share disposition. Notes confirm RSUs convert to one share each or cash at committee discretion and some RSUs were issued to capture dividend equivalents. From a governance perspective, these entries document executive-to-shareholder alignment through long-term incentive awards and contain no disclosure of unusual trades or planned Rule 10b5-1 activity.

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
Estimated average burden
hours per response:			0.5

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 10170

(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)
08/25/2025

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)	08/25/2025		A		16.01(13)		(2)	(2)	Common Stock	16.01	$0	1,821.13	D
Restricted Stock Units	(1)(3)	08/25/2025		A		229.26(13)		(3)	(3)	Common Stock	229.26	$0	26,074.9	D
Restricted Stock Units	(1)(4)	08/25/2025		A		115.54(13)		(4)	(4)	Common Stock	115.54	$0	13,140.7	D
Restricted Stock Units	(1)(5)	08/25/2025		A		65.42(13)		(5)	(5)	Common Stock	65.42	$0	7,441	D
Restricted Stock Units	(1)(6)	08/25/2025		A		135.64(13)		(6)	(6)	Common Stock	135.64	$0	15,426.51	D
Restricted Stock Units	(1)(7)	08/25/2025		A		178.71(13)		(7)	(7)	Common Stock	178.71	$0	20,325.85	D
Restricted Stock Units	(1)(8)	08/25/2025		A		69.06(13)		(8)	(8)	Common Stock	69.06	$0	7,854.96	D
Restricted Stock Units	(1)(9)	08/25/2025		A		54(13)		(9)	(9)	Common Stock	54	$0	6,141.08	D
Restricted Stock Units	(1)(10)	08/25/2025		A		74.76(13)		(10)	(10)	Common Stock	74.76	$0	8,503.09	D
Restricted Stock Units	(1)(11)	08/25/2025		A		55.26(13)		(11)	(11)	Common Stock	55.26	$0	6,285.02	D
Restricted Stock Units	(1)(12)	08/25/2025		A		80.38(13)		(12)	(12)	Common Stock	80.38	$0	9,141.89	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	08/26/2025
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did GNK director Basil G. Mavroleon report on Form 4 (GNK)?

He reported a 739-share disposition and multiple RSU-related acquisitions (vesting/conversion) dated 08/25/2025, with the Form filed 08/26/2025.

Do the RSU entries on this Form 4 indicate purchases at market price?

No. The RSU entries are recorded with a $0 price, reflecting vesting/conversion of restricted stock units rather than open-market purchases.

Which RSU grant years vested according to the filing?

Vesting years listed include grants from 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024 and 2025.

What do the explanatory notes say about dividend equivalents?

Note 13 states additional RSUs were granted in lieu of cash dividends; the number is calculated by dividing the dividend amount by the closing share price on the dividend payment date.

Does the filing disclose the director using a 10b5-1 trading plan?

No explicit 10b5-1 plan checkbox or statement is disclosed in the provided content.