Diana Shipping (NYSE: GNK holder) sells 108,603 Genco shares but keeps large stake

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Diana Shipping Inc., a ten percent owner of Genco Shipping & Trading Ltd., reported open-market sales of a total of 108,603 common shares of GNK. The trades occurred on May 14–15, 2026 at average prices of about $24.59–$25.01 per share, executed through multiple transactions within stated price ranges. After these sales, Diana Shipping directly holds 6,304,548 common shares of Genco Shipping & Trading.

Insights

Large shareholder net-sells 108,603 GNK shares but keeps a sizeable stake.

Diana Shipping Inc., a ten percent owner of Genco Shipping & Trading, executed three open-market sales totaling 108,603 common shares. Reported average prices ranged around $24.59–$25.01 per share across the two trading days.

Following these transactions, Diana Shipping still directly holds 6,304,548 GNK common shares, indicating that the reported activity represents only a portion of its position. No derivative positions remain disclosed in this filing, and no Rule 10b5-1 trading plan references appear in the provided excerpt.

The filings state that prices are averages over multiple trades within disclosed ranges, which is typical for institutional-sized executions. Subsequent company filings may provide further context if this selling pattern continues or if Diana Shipping’s ownership status changes.

Insider Trade Summary

Net Seller: 108,603 shares ($2,681,661)

Net Sell 3 txns

Insider DIANA SHIPPING INC.

Role null

Sold 108,603 shs ($2.68M)

Type	Security	Shares	Price	Value
Sale	Common Shares	50,000	$24.59	$1.23M
Sale	Common Shares	50,000	$24.74	$1.24M
Sale	Common Shares	8,603	$25.01	$215K

Holdings After Transaction: Common Shares — 6,304,548 shares (Direct, null)

Footnotes (1)

The shares were sold in the open market and the price reported is an average price. These shares were sold in multiple transactions at prices ranging from $24.59 to $25.01, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range. The shares were sold in the open market and the price reported is an average price. These shares were sold in multiple transactions at prices ranging from $25.0 to $25.035, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range. The shares were sold in the open market and the price reported is an average price. These shares were sold in multiple transactions at prices ranging from $24.50 to $24.925, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range.

Key Figures

Total shares sold: 108,603 shares Sale price 1: $24.59 per share Sale price 2: $25.01 per share +3 more

6 metrics

Total shares sold 108,603 shares Net open-market sales reported in this Form 4

Sale price 1 $24.59 per share Average price for 50,000-share sale on May 15, 2026

Sale price 2 $25.01 per share Average price for 8,603-share sale on May 14, 2026

Sale price 3 $24.74 per share Average price for 50,000-share sale on May 14, 2026

Shares after transactions 6,304,548 shares Diana Shipping’s direct GNK holdings following the last sale

Net buy/sell direction Net sell of 108,603 shares Transaction summary for this Form 4

Key Terms

open-market sale, ten percent owner, average price, non-derivative, +1 more

5 terms

open-market sale financial

"transaction_action: "open-market sale" with transaction code "S""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

ten percent owner financial

""is_ten_percent_owner": 1 in the reportingPersons metadata"

average price financial

"The shares were sold in the open market and the price reported is an average price."

non-derivative financial

""transaction_type": "non-derivative" for each common share sale"

transaction code "S" financial

""transaction_code": "S" described as sale in open market or private transaction"

Form 4 Insider Transactions: What Each Field Means →

05/18/2026 - 04:33 PM

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
Estimated average burden
hours per response:			0.5

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^*

DIANA SHIPPING INC.

(Last)

(First)

(Middle)

PENDELIS 16

PALAIO FALIRO

(Street)

ATHENS

175 64

(City)

(State)

(Zip)

GREECE

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/14/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Shares	05/14/2026		S		50,000⁽¹⁾	D	$24.74	6,363,151	D
Common Shares	05/14/2026		S		8,603⁽²⁾	D	$25.01	6,354,548	D
Common Shares	05/15/2026		S		50,000⁽³⁾	D	$24.59	6,304,548	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The shares were sold in the open market and the price reported is an average price. These shares were sold in multiple transactions at prices ranging from $24.59 to $25.01, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range.

2. The shares were sold in the open market and the price reported is an average price. These shares were sold in multiple transactions at prices ranging from $25.0 to $25.035, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range.

3. The shares were sold in the open market and the price reported is an average price. These shares were sold in multiple transactions at prices ranging from $24.50 to $24.925, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range.

	/s/ Ioannis Zafirakis, Authorized Representative	05/18/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Diana Shipping Inc. report in its latest Form 4 for GNK?

Diana Shipping Inc. reported selling 108,603 Genco Shipping & Trading (GNK) common shares. The transactions were open-market sales over two days at average prices around $24.59–$25.01 per share, and Diana Shipping remained a significant shareholder afterward.

How many GNK shares did Diana Shipping Inc. sell and at what prices?

Diana Shipping Inc. sold 108,603 GNK common shares in total. The reported average prices were $24.59, $24.74, and $25.01 per share, with each average representing multiple trades executed within disclosed price ranges on May 14 and May 15, 2026.

How many Genco Shipping & Trading (GNK) shares does Diana Shipping hold after these sales?

After the reported sales, Diana Shipping directly holds 6,304,548 GNK common shares. This post-transaction holding reflects its remaining position following three open-market sale transactions totaling 108,603 shares disclosed in the Form 4 filing.

On what dates did Diana Shipping Inc. sell GNK shares in this Form 4?

The reported GNK share sales occurred on May 14 and May 15, 2026. Diana Shipping executed two sale entries dated May 14 and one dated May 15, all classified as open-market or private sale transactions under transaction code “S.”

What type of transactions did Diana Shipping report for GNK in this filing?

All reported GNK transactions were open-market sales of common shares. The Form 4 lists three non-derivative transactions coded “S,” each described as a “Sale in open market or private transaction,” with no derivative exercises or gifts disclosed.

Is Diana Shipping Inc. considered a major shareholder of Genco Shipping & Trading (GNK)?

Yes, Diana Shipping Inc. is identified as a ten percent owner of GNK. The Form 4 metadata flags Diana as a ten percent owner, and after the reported selling, it still directly holds 6,304,548 Genco Shipping & Trading common shares.