Genco Shipping (GNK) CCO settles RSUs and sells 18,450 shares under 10b5-1 plan

Rhea-AI Filing Summary

Genco Shipping & Trading Chief Commercial Officer Jesper Christensen reported multiple equity award settlements and a related stock sale. On February 23, 2026, restricted stock units vested and were settled into shares of common stock, consistent with his compensation program. The filing shows an open-market sale of 18,450 shares of common stock at a weighted average price of $23.66 per share, executed under a pre-established Rule 10b5-1 trading plan to cover tax obligations from the vesting RSUs. After these transactions, Christensen directly held 98,299 shares of common stock and 24,863 restricted stock units, which generally vest in annual installments over three to five years from their respective grant dates.

Insights

Equity compensation & insider-trading analyst

Executive settles RSUs and sells shares mainly for tax obligations.

The transactions show Jesper Christensen, Chief Commercial Officer of GENCO SHIPPING & TRADING LTD, receiving common shares as restricted stock units vested and were settled. Code M entries indicate exercises or conversions of derivative securities, consistent with routine equity compensation vesting.

The Form 4 also records an open-market sale of 18,450 common shares at a weighted average price of $23.66 per share. A footnote states these sales were made under a pre-existing Rule 10b5-1 plan to satisfy tax obligations arising from RSUs that vested on February 23, 2026.

After the reported activity, Christensen holds 98,299 common shares and 24,863 restricted stock units directly. The RSUs generally vest in equal installments over three or five years from grant dates between 2022 and 2026. Overall, this appears to be routine executive compensation administration rather than a thesis-changing insider move.

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).

X

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)

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)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/23/2026

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	02/23/2026		M		10,101	A	(1)	88,412	D
Common Stock	02/23/2026		M		6,421	A	(1)	94,833	D
Common Stock	02/23/2026		M		6,135	A	(1)	100,968	D
Common Stock	02/23/2026		M		9,646	A	(1)	110,614	D
Common Stock	02/23/2026		M		6,135	A	(1)	116,749	D
Common Stock	02/23/2026		S		18,450(2)	D	$23.66(3)	98,299	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	(4)(5)							(5)	(5)	Common Stock	24,863(4)		24,863	D
Restricted Stock Units	(1)(4)(6)	02/23/2026		M			10,101	(6)	(6)	Common Stock	10,101(4)	$0	20,202	D
Restricted Stock Units	(1)(4)(7)	02/23/2026		M			6,421	(7)	(7)	Common Stock	6,421(4)	$0	6,421	D
Restricted Stock Units	(1)(4)(8)	02/23/2026		M			6,135	(8)	(8)	Common Stock	6,135(4)	$0	0	D
Restricted Stock Units	(1)(4)(9)	02/23/2026		M			9,646	(9)	(9)	Common Stock	9,646(4)	$0	19,294	D
Restricted Stock Units	(1)(4)(10)	02/23/2026		M			6,135	(10)	(10)	Common Stock	6,135(4)	$0	6,135	D

Explanation of Responses:

1. The Reporting Person became entitled to receive shares of common stock in settlement of restricted stock units upon their vesting.

2. 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.

3. 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.

4. 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.

5. 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.

6. 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.

7. 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.

8. 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.

9. 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.

10. 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.

	/s/ Jesper Christensen	02/23/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did GNK Chief Commercial Officer Jesper Christensen report on this Form 4?

Jesper Christensen reported settlement of restricted stock units into common shares and an associated stock sale. Several RSU grants vested and converted, and he sold 18,450 common shares in an open-market transaction executed under a pre-existing Rule 10b5-1 trading plan.

How many Genco Shipping (GNK) shares did the CCO sell and at what price?

The filing shows an open-market sale of 18,450 shares of Genco Shipping common stock. The weighted average sale price was $23.66 per share, with individual trades executed between $23.19 and $24.07 on February 23, 2026, as detailed in the footnotes.

Why did Jesper Christensen sell Genco Shipping (GNK) shares in this Form 4?

Footnotes state the 18,450 shares were sold under a previously established Rule 10b5-1 trading plan. The purpose was to satisfy Christensen’s tax obligations arising from restricted stock units that vested on February 23, 2026, rather than a discretionary sale unrelated to tax.

How many Genco Shipping (GNK) shares does the CCO own after these transactions?

After the reported transactions, Jesper Christensen directly owns 98,299 shares of Genco Shipping common stock. He also holds 24,863 restricted stock units, which represent additional potential shares that will be delivered as they vest over future years, subject to plan terms.

How do Jesper Christensen’s restricted stock units in GNK vest over time?

The restricted stock units generally vest in equal installments over three or five years from their grant dates. Footnotes explain that grants tied to February 23 of 2022 through 2026 vest annually, with settlement potentially postponed if a blackout period or trading restriction applies.

What does transaction code M mean in this Genco Shipping (GNK) Form 4?

Transaction code M indicates an exercise or conversion of a derivative security, here referring to restricted stock units settling into common shares. It signals that the executive received common stock upon RSU vesting, rather than making an open-market purchase at a cash price.