Genco CAO Adamo vests RSUs, sells 6,340 shares
GENCO SHIPPING & TRADING LTD Chief Accounting Officer Joseph Adamo reported RSU vesting, share delivery and a related stock sale.
Rhea-AI Filing Summary
GENCO SHIPPING & TRADING LTD Chief Accounting Officer Joseph Adamo reported RSU vesting, share delivery and a related stock sale. On February 23, 2026, multiple batches of restricted stock units were exercised and converted into common shares at a price of $0.00 per share, reflecting equity awards vesting over prior grant years.
On the same date, Adamo sold 6,340 shares of common stock at a weighted average price of $23.67 per share under a pre-arranged Rule 10b5-1 trading plan to cover tax obligations tied to the RSU vesting. After these transactions, he directly held 38,519 shares of common stock and 6,215 restricted stock units, which generally vest in equal installments over three years from their respective February 23 grant dates.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
10 txns
Insider
Adamo Joseph
Role
Chief Accounting Officer
Sold
6,340 shs ($150K)
Approx. gross sale proceeds
$150K
Approx. exercise cost
$0.00
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 2,806 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 2,293 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 2,557 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 6,431 | $0.00 | $0.00 |
| Exercise | Common Stock | 2,806 | $0.00 | $0.00 |
| Exercise | Common Stock | 2,293 | $0.00 | $0.00 |
| Exercise | Common Stock | 2,557 | $0.00 | $0.00 |
| Exercise | Common Stock | 6,431 | $0.00 | $0.00 |
| Sale | Common Stock | 6,340 | $23.67 | $150K |
| holding | Restricted Stock Units | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 14,120 contracts for 6,215 underlying shares (Direct);
Common Stock — 38,519 shares (Direct)
Footnotes (8)
- F1. The Reporting Person became entitled to receive shares of common stock in settlement of restricted stock units upon their vesting.
- F2. These shares were sold under instructions given in a previously existing plan established in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in order to satisfy the reporting person's tax obligations for restricted stock units that vested on February 23, 2026.
- F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $23.19 to $24.07 (inclusive) on February 23, 2026. The reporting person undertakes to provide to Genco Shipping & Trading Limited, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
- F4. Each restricted stock unit 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.
- F5. These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 23, 2026, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
- F6. These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 23, 2025, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
- F7. These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 23, 2024, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
- F8. These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 23, 2023, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did GNK executive Joseph Adamo report on this Form 4?
Joseph Adamo reported RSU vesting and share delivery plus a related stock sale. Several restricted stock unit grants converted into GENCO common shares, and he then sold 6,340 shares, reflecting routine equity compensation activity combined with a planned disposition.
What are restricted stock units (RSUs) in the GNK Form 4 for Joseph Adamo?
Each restricted stock unit represents the right to receive one share of GENCO common stock, or equivalent value in cash at vesting. The units generally vest in three equal annual installments from the relevant February 23 grant date, subject to postponement during blackout periods or trading restrictions.
What GENCO (GNK) equity holdings does Joseph Adamo report after these transactions?
After the reported transactions, Joseph Adamo directly held 38,519 shares of GENCO common stock. He also reported ownership of 6,215 restricted stock units that remain outstanding and subject to future vesting schedules tied to earlier grant dates and three-year installment vesting terms.
How do Joseph Adamo’s RSU awards at GNK typically vest over time?
His restricted stock units generally vest in equal installments on each of the first three anniversaries of the applicable February 23 grant date, such as 2023, 2024, 2025, or 2026. Settlement can be postponed if vesting occurs during a blackout period or other trading restriction.
AI-generated analysis. How Rhea-AI works. Not financial advice.
