GENCO SHIPPING & TRADING LTD — Director's Dealing 2021

Sep 17, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GENCO SHIPPING & TRADING LTD (GNK)
CIK: 0001326200
Period of Report: 2021-09-16

Reporting Person: Adamo Joseph (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-09-16	Common Stock	M	1872	$7.06	Acquired	3992	Direct
2021-09-16	Common Stock	S	619	$21.35	Disposed	3373	Direct
2021-09-16	Common Stock	M	2702	$8.065	Acquired	6075	Direct
2021-09-16	Common Stock	S	1020	$21.35	Disposed	5055	Direct
2021-09-16	Common Stock	S	1100	$21.3355	Disposed	3955	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-09-16	Option	$7.06	M	1872	Disposed	2026-02-25	Common Stock (1872)	Direct
2021-09-16	Option	$8.065	M	2702	Disposed	2025-03-04	Common Stock (2702)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Common Stock (2018)	2018	Direct
Option	$9.91	2027-02-23	Common Stock (2309)	2309	Direct
Restricted Stock Units	$		Common Stock (1889)	1889	Direct
Restricted Stock Units	$		Common Stock (596)	596	Direct

Footnotes

F1: Represents shares withheld by the issuer for the cashless exercise of options having an exercise price of $7.06 per share for 1,872 shares of the issuer's common stock.

F2: Represents shares withheld by the issuer for the cashless exercise of options having an exercise price of $8.065 per share for 2,702 shares of the issuer's common stock.

F3: These shares were sold in order to satisfy the reporting person's tax obligations in respect of shares of the issuer's common stock received upon the exercise of options as noted above.

F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $21.33 to $21.345 (inclusive) on September 16, 2021. 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.

F5: 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.

F6: 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.

F7: These options generally become exercisable in equal installments on each of the first three anniversaries of February 23, 2021.

F8: 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.

F9: These options generally become exercisable in equal installments on each of the first three anniversaries of February 25, 2020.

F10: These restricted stock units generally vest in equal installments on each of the first three anniversaries of March 4, 2019, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.

F11: These options generally become exercisable in equal installments on each of the first three anniversaries of March 4, 2019.