Genco (NYSE: GNK) director logs new RSU awards granted in lieu of dividends

Rhea-AI Filing Summary

Orsel Karin Y reported acquisition or exercise transactions in this Form 4 filing.

GENCO SHIPPING & TRADING LTD director Karin Y. Orsel reported compensation-related equity grants rather than open-market trades. On March 18, 2026, she received five small awards of Restricted Stock Units (RSUs), each representing the right to one share of common stock or its cash value upon vesting.

The footnotes explain that several of these RSUs have already vested on dates between May 16, 2022 and May 20, 2025, while the most recent grant generally vests at the earlier of the next annual shareholders meeting after the May 20, 2025 grant date or fourteen months after that date. Additional RSUs were granted in lieu of cash dividends on previously outstanding RSUs, with the number of new units calculated by dividing the cash dividend amount by the closing share 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^*

Orsel Karin Y

(Last) (First) (Middle)

C/O GENCO SHIPPING & TRADING LIMITED

299 PARK AVENUE, 12TH FLOOR

(Street)

NEW YORK 10171

(City) (State) (Zip)

(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

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		177.26(7)		(2)	(2)	Common Stock	177.26	$0	8,093.61	D
Restricted Stock Units	(1)(3)	03/18/2026		A		138.58(7)		(3)	(3)	Common Stock	138.58	$0	6,327.66	D
Restricted Stock Units	(1)(4)	03/18/2026		A		191.88(7)		(4)	(4)	Common Stock	191.88	$0	8,761.44	D
Restricted Stock Units	(1)(5)	03/18/2026		A		141.83(7)		(5)	(5)	Common Stock	141.83	$0	6,475.98	D
Restricted Stock Units	(1)(6)	03/18/2026		A		206.3(7)		(6)	(6)	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 restricted stock unit vests.

2. These RSUs vested on May 16, 2022.

3. These RSUs vested on May 16, 2023.

4. These RSUs vested on May 23, 2024.

5. These RSUs vested on May 20, 2025.

6. 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.

7. 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/ Karin Y. Orsel	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 insider activity did GNK director Karin Y. Orsel report on this Form 4?

Karin Y. Orsel reported five small grants of Restricted Stock Units (RSUs), all coded as awards or other acquisitions, not market purchases or sales. These RSUs are compensation-related equity awards tied to GENCO SHIPPING & TRADING LTD common stock.

Were the GNK RSU transactions by Karin Orsel open-market buys or sells?

No, the RSU entries are grant or award acquisitions with transaction code “A,” not open-market buys or sells. They represent stock-based compensation and dividend-equivalent RSUs rather than discretionary trading in GENCO SHIPPING & TRADING LTD shares.

How do Karin Orsel’s GNK RSUs relate to cash dividends on the stock?

The filing notes additional RSUs granted in lieu of cash dividends on the common stock underlying existing RSUs. The number of extra RSUs equals the cash dividend amount divided by the closing GNK share price on the dividend payment date.

What do the GNK Form 4 footnotes say about RSU vesting for Karin Orsel?

Footnotes state that certain RSU grants vested on May 16, 2022, May 16, 2023, May 23, 2024, and May 20, 2025. The latest grant generally vests at the next annual shareholders meeting after May 20, 2025, or fourteen months after that grant date.

How many GNK shares does each Restricted Stock Unit reported by Karin Orsel represent?

Each restricted stock unit reported by Karin Orsel represents the right to receive one share of GENCO SHIPPING & TRADING LTD common stock, or at the compensation committee’s discretion, the cash value of one share on the date the RSU vests.

Does the GNK Form 4 show any remaining derivative positions for Karin Orsel?

The derivative position summary in the filing is empty after these RSU awards, indicating no additional derivative securities like options or warrants are listed beyond the reported RSUs tied to GENCO SHIPPING & TRADING LTD common stock.