Genco Shipping (NYSE: GNK) director reports new RSU grants tied to dividends

Rhea-AI Filing Summary

Genco Shipping & Trading Ltd. director Karin Y. Orsel reported multiple small acquisitions of restricted stock units (RSUs) tied to existing equity awards. On November 24, 2025, she was granted additional RSUs with no cash exercise price, in amounts of 61.4, 48, 66.46, 49.13, and 71.46 units, each corresponding to the company’s common stock.

The filing explains that each RSU represents the right to receive one GNK common share or its value when the unit vests. These incremental RSUs were granted in lieu of cash dividends on previously outstanding RSUs, with each grant size calculated by dividing the cash dividend by GNK’s closing share price on the dividend payment date. The underlying RSU blocks referenced have vesting dates ranging from May 16, 2022, through May 20, 2025, with one grant vesting at the earlier of the next annual shareholder meeting after May 20, 2025 or fourteen months after that grant 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 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)
11/24/2025

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)	11/24/2025		A		61.4(7)		(2)	(2)	Common Stock	61.4	$0	7,916.36	D
Restricted Stock Units	(1)(3)	11/24/2025		A		48(7)		(3)	(3)	Common Stock	48	$0	6,189.08	D
Restricted Stock Units	(1)(4)	11/24/2025		A		66.46(7)		(4)	(4)	Common Stock	66.46	$0	8,569.55	D
Restricted Stock Units	(1)(5)	11/24/2025		A		49.13(7)		(5)	(5)	Common Stock	49.13	$0	6,334.15	D
Restricted Stock Units	(1)(6)	11/24/2025		A		71.46(7)		(6)	(6)	Common Stock	71.46	$0	9,213.35	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	11/26/2025
	** Signature of Reporting Person	Date
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FAQ

What did GNK director Karin Y. Orsel report in this Form 4 filing?

Karin Y. Orsel, a director of Genco Shipping & Trading Ltd. (GNK), reported the acquisition of several small blocks of restricted stock units (RSUs) on November 24, 2025, all linked to GNK common stock and recorded at a price of $0 per unit.

How many new restricted stock units were granted to the GNK director?

The filing lists additional RSU grants of 61.4, 48, 66.46, 49.13, and 71.46 RSUs, each tied to the company’s common stock.

Why did Genco Shipping & Trading (GNK) grant these additional RSUs?

The additional RSUs were granted in lieu of cash dividends on previously outstanding RSUs. The number of new units was calculated by dividing the cash dividend amount by GNK’s closing share price on the respective dividend payment dates.

What does each GNK restricted stock unit represent for the reporting person?

Each RSU represents the right to receive one share of Genco Shipping & Trading’s common stock, or, at the discretion of the Compensation Committee, the value of one share on the date the RSU vests.

When do the underlying GNK RSU awards vest?

The RSU blocks referenced in the filing vested or vest on various dates: May 16, 2022, May 16, 2023, May 23, 2024, and May 20, 2025. One grant generally vests on the earlier of the next annual shareholders meeting after the May 20, 2025 grant date or fourteen months after that grant date.

How many derivative securities does the GNK director hold after these RSU grants?

Following the reported transactions, the filing shows beneficial holdings under separate RSU entries, including 7,916.36, 6,189.08, 8,569.55, 6,334.15, and 9,213.35 derivative securities, each recorded as direct (D) ownership.