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).
1. Name and Address of Reporting Person*
WOBENSMITH JOHN C
(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)
CEO, President and Secretary
3. Date of Earliest Transaction (Month/Day/Year)
10/15/2018
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 10/15/2018 M 97,466 A $0 267,142 D
Common Stock 10/15/2018 S 12,210(1) D $12.7318(2) 254,932 D
Common Stock 10/16/2018 S 13,757(1) D $12.7333(2) 241,175 D
Common Stock 10/17/2018 S 20,817(1) D $12.2376(2) 220,358 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 (3)(4) (4) (4) Common Stock 20,088(3) 20,088 D
Option $13.69 02/27/2019(5) 02/27/2024 Common Stock 65,789 65,789 D
Restricted Stock Units (3)(6) 10/15/2018 M 97,466 (6) (6) Common Stock 194,932(3) $0 97,466 D
Option $11.13 10/15/2017(7) 03/23/2023 Common Stock 133,000 133,000 D
Warrant $259.1 08/07/2015(8) 08/07/2020 Common Stock 47,613 476,133 D
Warrant $287.3 08/07/2015(8) 08/07/2020 Common Stock 49,340 493,402 D
Warrant $341.9 08/07/2015(8) 08/07/2020 Common Stock 74,195 741,958 D
Warrant $209.9 07/09/2014 07/09/2021 Common Stock 2,653 26,533 D
Explanation of Responses:
1. These shares were sold under instructions given 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 and settled in shares of the issuer's common stock on October 15, 2018.
2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.585 to $12.86 (inclusive) on October 15, 2018, from $12.60 to $12.89 (inclusive) on October 16, 2018, and from $12.055 to $12.65 (inclusive) on October 17, 2018. 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.
3. 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.
4. These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 27, 2018.
5. These options generally become exercisable in equal installments on each of the first three anniversaries of February 27, 2018.
6. Of the original grant of 292,398 restricted stock units, 97,466 restricted stock units vested on each of October 15, 2017 and October 15, 2018. The remaining unvested RSUs will generally vest on October 15, 2019.
7. These options generally become exercisable in equal installments on each of the first three anniversaries of October 15, 2016.
8. These warrants became exercisable in equal installments on each of the first three anniversaries of August 7, 2014.
/s/ John C. Wobensmith 10/17/2018
** Signature of Reporting Person Date
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* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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