Director at GENCO SHIPPING & TRADING (NYSE: GNK) receives multiple RSU grants

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.

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 NEW YORK 10171

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/18/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)	03/18/2026		A		41.1(13)		(2)	(2)	Common Stock	41.1	$0	1,876.46	D
Restricted Stock Units	(1)(3)	03/18/2026		A		588.42(13)		(3)	(3)	Common Stock	588.42	$0	26,867.13	D
Restricted Stock Units	(1)(4)	03/18/2026		A		296.54(13)		(4)	(4)	Common Stock	296.54	$0	13,539.96	D
Restricted Stock Units	(1)(5)	03/18/2026		A		167.92(13)		(5)	(5)	Common Stock	167.92	$0	7,667.08	D
Restricted Stock Units	(1)(6)	03/18/2026		A		348.12(13)		(6)	(6)	Common Stock	348.12	$0	15,895.22	D
Restricted Stock Units	(1)(7)	03/18/2026		A		458.68(13)		(7)	(7)	Common Stock	458.68	$0	20,943.41	D
Restricted Stock Units	(1)(8)	03/18/2026		A		177.26(13)		(8)	(8)	Common Stock	177.26	$0	8,093.61	D
Restricted Stock Units	(1)(9)	03/18/2026		A		138.58(13)		(9)	(9)	Common Stock	138.58	$0	6,327.66	D
Restricted Stock Units	(1)(10)	03/18/2026		A		191.88(13)		(10)	(10)	Common Stock	191.88	$0	8,761.44	D
Restricted Stock Units	(1)(11)	03/18/2026		A		141.83(13)		(11)	(11)	Common Stock	141.83	$0	6,475.98	D
Restricted Stock Units	(1)(12)	03/18/2026		A		206.3(13)		(12)	(12)	Common Stock	206.3	$0	9,419.65	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	03/20/2026
	** 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.
* Form 4: SEC 1474 (03-26)

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.

How many GNK common shares does Basil G. Mavroleon directly own after these transactions?

The filing shows direct ownership of 739 common shares. A holding entry for GENCO SHIPPING & TRADING LTD common stock reports total direct holdings of 739 shares after the reported RSU-related transactions on March 18, 2026.

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.