GNK Insider Filing: James Dolphin Reports RSU Vesting on 08/25/2025

Rhea-AI Filing Summary

James G. Dolphin, a director of GENCO SHIPPING & TRADING LTD (GNK), reported changes in beneficial ownership on Form 4. The filing shows multiple grants of Restricted Stock Units (RSUs) recorded as acquisitions on 08/25/2025. Each RSU represents the right to receive one share of common stock (or cash at the Compensation Committee's discretion). The RSUs listed vested on various prior dates from July 17, 2015 through May 20, 2025, and additional RSUs were credited to reflect dividends. Following these reported acquisitions Mr. Dolphin beneficially owned approximately 155,011 shares-equivalent of common stock resulting from vested RSUs.

Positive

• Significant insider ownership increase: Reported vesting and settlement of RSUs raised Director James G. Dolphin's beneficial holdings by approximately 155,011 share-equivalents.
• Compensation alignment: Vesting of long-dated RSUs (2015–2025) and dividend-equivalent accruals align director economic interests with shareholders without cash outlay.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Multiple vested RSUs materially increased a director's beneficial holdings, indicating sustained compensation realization rather than open-market purchases.

The Form 4 documents vesting-based acquisitions of RSUs by Director James G. Dolphin on 08/25/2025. The RSUs stem from grants across 2015–2025 and include dividend-equivalent additional units, which is a routine executive compensation settlement rather than a discretionary purchase or sale. For governance review, this increases insider alignment with shareholders but does not reflect active trading intent. No cash prices were paid for the RSUs as reported.

Securities Analyst

TL;DR: The filing reports vesting events that raise reported insider ownership by roughly 155k share-equivalents; no open-market transactions disclosed.

From an investor-significance perspective, the entry is informational: it records conversion rights to common stock from long-standing RSU grants and dividend-equivalent accruals. The filing lists zero purchase price for these RSUs, consistent with standard vesting settlements. This increases reported insider stake size but provides no indication of change in trading strategy or company fundamentals.

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
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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^*

Dolphin James G

(Last) (First) (Middle)

C/O GENCO SHIPPING & TRADING LIMITED

299 PARK AVENUE, 12TH FLOOR

(Street)

NEW YORK NY 10171

(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

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		5.56(14)		(2)	(2)	Common Stock	5.56	$0	632.1	D
Restricted Stock Units	(1)(3)	08/25/2025		A		16.01(14)		(3)	(3)	Common Stock	16.01	$0	1,821.13	D
Restricted Stock Units	(1)(4)	08/25/2025		A		229.26(14)		(4)	(4)	Common Stock	229.26	$0	26,074.9	D
Restricted Stock Units	(1)(5)	08/25/2025		A		115.54(14)		(5)	(5)	Common Stock	115.54	$0	13,140.7	D
Restricted Stock Units	(1)(6)	08/25/2025		A		65.42(14)		(6)	(6)	Common Stock	65.42	$0	7,441	D
Restricted Stock Units	(1)(7)	08/25/2025		A		135.64(14)		(7)	(7)	Common Stock	135.64	$0	15,426.51	D
Restricted Stock Units	(1)(8)	08/25/2025		A		178.71(14)		(8)	(8)	Common Stock	178.71	$0	20,325.85	D
Restricted Stock Units	(1)(9)	08/25/2025		A		142.21(14)		(9)	(9)	Common Stock	142.21	$0	16,174.15	D
Restricted Stock Units	(1)(10)	08/25/2025		A		108(14)		(10)	(10)	Common Stock	108	$0	12,283.49	D
Restricted Stock Units	(1)(11)	08/25/2025		A		149.54(14)		(11)	(11)	Common Stock	149.54	$0	17,007.34	D
Restricted Stock Units	(1)(12)	08/25/2025		A		88.42(14)		(12)	(12)	Common Stock	88.42	$0	10,056.47	D
Restricted Stock Units	(1)(13)	08/25/2025		A		128.61(14)		(13)	(13)	Common Stock	128.61	$0	14,627.02	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 July 17, 2015.

3. These RSUs vested on May 18, 2016.

4. These RSUs vested on May 17, 2017.

5. These RSUs vested on May 15, 2018.

6. These RSUs vested on May 15, 2019.

7. These RSUs vested on July 15, 2020.

8. These RSUs vested on May 13, 2021.

9. These RSUs vested on May 16, 2022.

10. These RSUs vested on May 16, 2023.

11. These RSUs vested on May 23, 2024.

12. These RSUs vested on May 20, 2025.

13. 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.

14. 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/ James G. Dolphin	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.
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FAQ

What did GNK director James G. Dolphin report on Form 4 (GNK)?

The Form 4 reports acquisitions of Restricted Stock Units (RSUs) by Director James G. Dolphin on 08/25/2025 representing vested compensation.

How many shares did the Form 4 report for GNK (approximate)?

The filing shows vested RSUs that amount to approximately 155,011 common share-equivalents following the reported transactions.

Were these open-market purchases or vesting of compensation for GNK (Form 4)?

These entries reflect RSU vesting and dividend-equivalent additional RSUs, not open-market purchases or sales; the reported price is $0 for the RSUs.

What time span do the vested RSUs cover in the GNK filing?

The RSUs shown vested on dates ranging from July 17, 2015 through May 20, 2025, with some vesting tied to the annual shareholders meeting or 14 months after grant.

Does the Form 4 indicate any sale or reduction in GNK holdings by the director?

No. The Form 4 lists acquisitions via RSU vesting; no dispositions or open-market sales are reported.