Genco Shipping & Trading Limited

09/10/2025 | Press release | Distributed by Public on 09/10/2025 16:38

Statement of Changes in Beneficial Ownership (Form 4)

FORM 4
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 that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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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(Print or Type Responses)
1. Name and Address of Reporting Person *
Christensen Jesper
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
(Last) (First) (Middle)
GENCO SHIPPING & TRADING LIMITED, 299 PARK AVENUE, 12TH FLOOR
3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025
(Street)
NEW YORK, NY 10171
4. If Amendment, Date 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
(City) (State) (Zip)
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 09/08/2025 M(1) 32,771 A $7.06 90,093 D
Common Stock 09/08/2025 S(2) 12,810 D $18.06 77,283 D
Common Stock 09/08/2025 M(3) 13,472 A $9.91 90,755 D
Common Stock 09/08/2025 S(4) 7,392 D $18.06 83,363 D
Common Stock 09/08/2025 S(5) 14,000 D $18.06(6) 69,363 D
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)
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 Underlying Securities
(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 of Derivative Security: 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 (7)(8) (8) (8) Common Stock 30,303 30,303 D
Restricted Stock Units (7)(9) (9) (9) Common Stock 6,421 6,421 D
Restricted Stock Units (7)(10) (10) (10) Common Stock 6,135 6,135 D
Restricted Stock Units (7)(11) (11) (11) Common Stock 9,646 9,646 D
Restricted Stock Units (7)(12) (12) (12) Common Stock 6,135 6,135 D
Option $9.91 09/08/2025 M(3) 13,472 02/23/2022(13) 02/23/2027 Common Stock 13,472 $ 0 0 D
Option $7.06 09/08/2025 M(3) 32,771 02/25/2021(14) 02/25/2026 Common Stock 32,771 $ 0 0 D

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Christensen Jesper
GENCO SHIPPING & TRADING LIMITED
299 PARK AVENUE, 12TH FLOOR
NEW YORK, NY 10171
Chief Commercial Officer

Signatures

/s/ Jesper Christensen 09/10/2025
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Represents exercise of stock options held by the reporting person that were scheduled to expire, if not exercised, at 5:00 p.m. on February 25, 2026.
(2) Represents shares withheld by the issuer for the cashless exercise of options for 32,771 shares of the issuer's common stock.
(3) Represents exercise of stock options held by the reporting person that were scheduled to expire, if not exercised, at 5:00 p.m. on February 23, 2027.
(4) Represents shares withheld by the issuer for the cashless exercise of options for 13,472 shares of the issuer's common stock.
(5) A portion of these shares was sold in order to satisfy the reporting person's tax obligations for shares of common stock received upon the exercise of options.
(6) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.97 to $18.16 (inclusive) on September 8, 2025. 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.
(7) 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.
(8) 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.
(9) 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.
(10) 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.
(11) 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.
(12) 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.
(13) These options generally become exercisable in equal installments on each of the first three anniversaries of February 23, 2021.
(14) These options generally became exercisable in equal installments on each of the first three anniversaries of February 25, 2020.
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.
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