Genco (GNK) CCO Exercises Options and Reports Sales; 69,363 Shares Retained

Rhea-AI Filing Summary

Genco Shipping & Trading Ltd. insider Jesper Christensen exercised stock options and sold a portion of the resulting shares on September 8, 2025. Christensen exercised options with exercise prices of $7.06 and $9.91, resulting in acquisitions of 32,771 and 13,472 common shares, respectively. A total of 34,202 shares were disposed of the same day through share-withholdings for cashless exercise and open-market sales, reported at a weighted average sale price of $18.06 for certain lots. After these transactions, Christensen beneficially owns 69,363 common shares and holds outstanding restricted stock units representing 58,640 potential shares. The filing discloses that some sales were to satisfy tax obligations and that the exercises related to options scheduled to expire in February 2026 and February 2027.

Positive

• Retained direct ownership of 69,363 common shares after exercises and sales
• Substantial unvested equity compensation remains: 58,640 restricted stock units convertible to common shares on vesting
• Exercises executed before option expirations, avoiding loss of in-the-money options priced at $7.06 and $9.91

Negative

• Reported sales of 34,202 shares on September 8, 2025, reducing immediate shareholdings
• Sales included open-market transactions at prices ranging $17.97–$18.16, signaling insider liquidity rather than reinvestment

Insights

Securities Analyst

TL;DR: Insider exercised options and sold shares, retaining a meaningful equity stake plus substantial unvested RSUs.

Christensen converted vested options into common stock and used share withholding and open-market sales to cover exercise costs and taxes. The filing shows exercises of options priced at $7.06 and $9.91 and cashless withholding/sales at a reported weighted average of $18.06 for the sold lots. Remaining direct beneficial ownership is 69,363 shares and there are 58,640 restricted stock units that could convert to shares on vesting schedules. For investors, this is routine insider liquidity and compensation-related activity rather than an operational update.

Corporate Governance Expert

TL;DR: Transactions appear consistent with option exercise schedules and tax withholding; no governance red flags disclosed.

The Form 4 documents scheduled option exercises that were near expiration dates and subsequent share withholding/sales to satisfy tax obligations. Multiple tranches of RSUs remain outstanding with staggered vesting dates. The reporting person is an officer (Chief Commercial Officer) and the transactions were reported promptly. There is no indication in the filing of related-party transfers, change-in-control dispositions, or unusual timing that would suggest governance concerns.

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^*

Christensen Jesper

(Last) (First) (Middle)

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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Commercial Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

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
Common Stock	09/08/2025		M(1)		32,771	A	$7.06	90,093	D
Common Stock	09/08/2025		S(2)		12,810	D	$18.06	77,283	D
Common Stock	09/08/2025		M(3)		13,472	A	$9.91	90,755	D
Common Stock	09/08/2025		S(4)		7,392	D	$18.06	83,363	D
Common Stock	09/08/2025		S(5)		14,000	D	$18.06(6)	69,363	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	(7)(8)							(8)	(8)	Common Stock	30,303		30,303	D
Restricted Stock Units	(7)(9)							(9)	(9)	Common Stock	6,421		6,421	D
Restricted Stock Units	(7)(10)							(10)	(10)	Common Stock	6,135		6,135	D
Restricted Stock Units	(7)(11)							(11)	(11)	Common Stock	9,646		9,646	D
Restricted Stock Units	(7)(12)							(12)	(12)	Common Stock	6,135		6,135	D
Option	$9.91	09/08/2025		M(3)			13,472	02/23/2022(13)	02/23/2027	Common Stock	13,472	$0	0	D
Option	$7.06	09/08/2025		M(3)			32,771	02/25/2021(14)	02/25/2026	Common Stock	32,771	$0	0	D

Explanation of Responses:

1. Represents exercise of stock options held by the reporting person that were scheduled to expire, if not exercised, at 5:00 p.m. on February 25, 2026.

2. Represents shares withheld by the issuer for the cashless exercise of options for 32,771 shares of the issuer's common stock.

3. Represents exercise of stock options held by the reporting person that were scheduled to expire, if not exercised, at 5:00 p.m. on February 23, 2027.

4. Represents shares withheld by the issuer for the cashless exercise of options for 13,472 shares of the issuer's common stock.

5. A portion of these shares was sold in order to satisfy the reporting person's tax obligations for shares of common stock received upon the exercise of options.

6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.97 to $18.16 (inclusive) on September 8, 2025. 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.

7. 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.

8. 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.

9. 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.

10. 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.

11. These restricted stock units generally vest in equal installments on each of the first five anniversaries of February 23, 2023, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.

12. These restricted stock units generally vest in equal installments on each of the first five anniversaries of February 23, 2022, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.

13. These options generally become exercisable in equal installments on each of the first three anniversaries of February 23, 2021.

14. These options generally became exercisable in equal installments on each of the first three anniversaries of February 25, 2020.

	/s/ Jesper Christensen	09/10/2025
	** Signature of Reporting Person	Date
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FAQ

What transactions did GNK insider Jesper Christensen report on Form 4?

Answer: He exercised options for 32,771 and 13,472 shares and disposed of 34,202 shares on 09/08/2025, with some sales to cover taxes.

How many shares does Jesper Christensen beneficially own after the reported transactions?

Answer: The Form 4 reports 69,363 common shares beneficially owned following the transactions.

What equity compensation remains outstanding for the reporting person?

Answer: The filing lists restricted stock units totaling 58,640 potential shares with staggered vesting schedules.

At what prices were shares sold in the reported transactions?

Answer: Certain sold shares were reported at a weighted average price of $18.06, with individual sale prices ranging $17.97 to $18.16 on September 8, 2025.

Were the option exercises related to impending expirations?

Answer: Yes. The filing states exercises related to options scheduled to expire on February 25, 2026 and February 23, 2027.