GNK (GNK) CFO reports stock grant and tax-related share sale
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Genco Shipping & Trading CFO equity transactions: Chief Financial Officer Peter George Allen reported multiple share and unit movements. On February 18, 2026, he acquired 12,983 shares of common stock at $0.00 per share as an equity award and then sold 6,232 shares of common stock at a weighted average price of $23.27 per share. The sale was executed under a pre-established Rule 10b5-1 trading plan to cover tax obligations arising from performance restricted stock units that vested the same day, leaving him with 52,002 common shares directly held. On February 16, 2026, he was granted 24,863 restricted stock units, each representing one share of common stock or its value upon vesting, with various RSU and option holdings subject to multi-year vesting schedules.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 6,232 shares ($145,019)
Net Sell
9 txns
Insider
Allen Peter George
Role
Chief Financial Officer
Sold
6,232 shs ($145K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 12,983 | $0.00 | -- |
| Sale | Common Stock | 6,232 | $23.27 | $145K |
| Grant/Award | Restricted Stock Units | 24,863 | $0.00 | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Option | -- | -- | -- |
Holdings After Transaction:
Common Stock — 58,234 shares (Direct);
Restricted Stock Units — 24,863 shares (Direct);
Option — 2,178 shares (Direct)
Footnotes (1)
- The Reporting Person became entitled to receive shares of common stock in settlement of performance restricted stock units upon their vesting. 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 performance restricted stock units that vested on February 18, 2026. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.61 to $23.67 (inclusive) on February 18, 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. 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. 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. 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. 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. 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. 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. These options generally become exercisable in equal installments on each of the first three anniversaries of February 23, 2021.
FAQ
What insider transactions did GNK’s CFO report on February 18, 2026?
On February 18, 2026, GNK’s CFO Peter George Allen received 12,983 shares of common stock as an equity award and sold 6,232 shares at a weighted average price of $23.27 per share, leaving him with 52,002 directly held common shares.
What new restricted stock units did GNK’s CFO receive in February 2026?
On February 16, 2026, GNK’s CFO was granted 24,863 restricted stock units. Each unit represents the right to receive one share of Genco common stock or its value on vesting, as determined by the company’s Compensation Committee.
How do GNK restricted stock units held by the CFO generally vest?
The GNK filing explains that various restricted stock unit grants to the CFO generally vest in equal installments over three or five years from February 23 of the grant year, with settlement potentially postponed if vesting occurs during blackout periods or trading restrictions.