GENCO SHIPPING & TRADING LTD — Director's Dealing 2021

May 11, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GENCO SHIPPING & TRADING LTD (GNK)
CIK: 0001326200
Period of Report: 2021-05-07

Reporting Person: Hughes Robert E (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-07	Common Stock	M	7802	$7.06	Acquired	9848	Direct
2021-05-07	Common Stock	F	3360	$16.39	Disposed	6488	Direct
2021-05-10	Common Stock	S	2200	$16.3261	Disposed	4288	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-07	Option	$7.06	M	7802	Disposed	2026-02-25	Common Stock (7802)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Common Stock (8409)	8409	Direct
Option	$9.91	2027-02-23	Common Stock (9623)	9623	Direct
Restricted Stock Units	$		Common Stock (7870)	7870	Direct

Footnotes

F1: Represents shares withheld by the issuer for the cashless exercise of options for 7,082 shares of the issuer's common stock.

F2: 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.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.35 to $16.38 (inclusive) on May 10, 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.

F4: 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.

F5: 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.

F6: These options generally become exercisable in equal installments on each of the first three anniversaries of February 23, 2021.

F7: 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.

F8: These options generally become exercisable in equal installments on each of the first three anniversaries of February 25, 2020.