Director at GENCO SHIPPING & TRADING (NYSE: GNK) receives multiple RSU grants
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
MAVROLEON BASIL G reported acquisition or exercise transactions in this Form 4 filing.
GENCO SHIPPING & TRADING LTD director Basil G. Mavroleon reported multiple grants of restricted stock units on March 18, 2026. Each RSU represents the right to receive one share of common stock or its cash value when it vests.
Many of these RSUs are additional awards granted in lieu of cash dividends on previously outstanding RSUs, with earlier underlying grants having vested between May 2016 and May 2025. One RSU grant generally vests at the earlier of the company’s next annual shareholders meeting after the May 20, 2025 grant date or fourteen months after that date. Following these transactions, Mavroleon also directly holds 739 shares of common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
12 transactions reported
Mixed
12 txns
Insider
MAVROLEON BASIL G
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 41.1 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 588.42 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 296.54 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 167.92 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 348.12 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 458.68 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 177.26 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 138.58 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 191.88 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 141.83 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 206.3 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 1,876.46 shares (Direct);
Common Stock — 739 shares (Direct)
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 RSU vests. These RSUs vested on May 18, 2016. These RSUs vested on May 17, 2017. 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.
FAQ
What did Basil G. Mavroleon report in the latest GNK Form 4?
Basil G. Mavroleon reported multiple restricted stock unit grants. On March 18, 2026, the GENCO SHIPPING & TRADING LTD director received RSUs that each represent the right to one share of common stock or its cash value upon vesting, reflecting equity-based compensation awards.
How do the reported RSUs for GNK’s director vest over time?
The RSUs vest according to specific grant terms. Earlier underlying RSU grants vested on dates from May 2016 through May 2025. One newer RSU grant generally vests at the earlier of the next annual shareholders meeting after May 20, 2025, or fourteen months after that grant date.
What is the nature of the dividend-equivalent RSUs reported for GNK?
Some RSUs were granted in lieu of cash dividends. Additional restricted stock units were issued instead of paying cash dividends on the common stock underlying previously outstanding RSUs, with amounts calculated using the cash dividend divided by the closing share price on each dividend payment date.
Does the GNK Form 4 show open-market buying or selling by the director?
No open-market buys or sells are reported. All coded transactions are “A” awards, meaning grants or other acquisitions of RSUs as compensation, not market purchases or sales. The filing also includes an updated holding line for directly owned common stock shares.
What does each GNK restricted stock unit represent for the director?
Each RSU represents one share or its cash value. According to the terms, every restricted stock unit gives the right to receive one share of GENCO SHIPPING & TRADING LTD common stock, or, at the Compensation Committee’s discretion, the value of a share on the vesting date.