0001140361-23-009008.txt : 20230227 0001140361-23-009008.hdr.sgml : 20230227 20230227210146 ACCESSION NUMBER: 0001140361-23-009008 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230223 FILED AS OF DATE: 20230227 DATE AS OF CHANGE: 20230227 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: WOBENSMITH JOHN C CENTRAL INDEX KEY: 0001333673 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-33393 FILM NUMBER: 23677932 MAIL ADDRESS: STREET 1: 35 WEST 56TH STREET CITY: NEW YORK STATE: NY ZIP: 10019 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: GENCO SHIPPING & TRADING LTD CENTRAL INDEX KEY: 0001326200 STANDARD INDUSTRIAL CLASSIFICATION: DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412] IRS NUMBER: 000000000 STATE OF INCORPORATION: 1T FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 299 PARK AVENUE STREET 2: 12TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10171 BUSINESS PHONE: (646) 443-8550 MAIL ADDRESS: STREET 1: 299 PARK AVENUE STREET 2: 12TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10171 4 1 form4.xml X0306 4 2023-02-23 0001326200 GENCO SHIPPING & TRADING LTD GNK 0001333673 WOBENSMITH JOHN C C/O GENCO SHIPPING & TRADING LIMITED 299 PARK AVENUE, 12TH FLOOR NEW YORK NY 10171 true true CEO, President, and Secretary Common Stock 2023-02-23 4 M 0 15338 A 414437 D Common Stock 2023-02-23 4 M 0 20182 A 434619 D Common Stock 2023-02-23 4 S 0 17760 19.3532 D 416859 D Common Stock 2023-02-25 4 M 0 28329 A 445188 D Common Stock 2023-02-27 4 S 0 14164 19.3988 D 431024 D Restricted Stock Units Common Stock 112540 112540 D Restricted Stock Units 2023-02-23 4 M 0 15338 0 D Common Stock 15338 56236 D Restricted Stock Units 2023-02-23 4 M 0 20182 0 D Common Stock 20182 20182 D Option 9.91 2022-02-23 2027-02-23 Common Stock 69284 69284 D Restricted Stock Units 2023-02-25 4 M 0 28329 0 D Common Stock 28329 0 D Option 7.06 2021-02-25 2026-02-25 Common Stock 168539 168539 D Option 8.065 2020-03-04 2025-03-04 Common Stock 66205 16691 D The Reporting Person became entitled to receive shares of common stock in settlement of 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 restricted stock units that vested on February 23, 2023. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.6852 to $19.7950 (inclusive) on February 23, 2023. 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. 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 25, 2023. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.215 to $19.7464 (inclusive) on February 27, 2023. 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 five 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 installments of 21.43% per annum on each of the first three anniversaries of February 23, 2022, 17.86% on the fourth such anniversary, and 17.85% on the fifth such anniversary, 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, 2021, 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. These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 25, 2020, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction. These options generally became exercisable in equal installments on each of the first three anniversaries of February 25, 2020. These options generally became exercisable in equal installments on each of the first three anniversaries of March 4, 2019. /s/ John C. Wobensmith 2023-02-27