GENCO SHIPPING & TRADING LTD — Director's Dealing 2021

Mar 6, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GENCO SHIPPING & TRADING LTD (GNK)
CIK: 0001326200
Period of Report: 2021-03-04

Reporting Person: WOBENSMITH JOHN C (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-04	Common Stock	M	19865	—	Acquired	375178	Direct
2021-03-04	Common Stock	S	9932	$11.0319	Disposed	365246	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-04	Restricted Stock Units	$	M	19865	Disposed		Common Stock (19865)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Common Stock (60545)	60545	Direct
Option	$9.91	2027-02-23	Common Stock (69284)	69284	Direct
Restricted Stock Units	$		Common Stock (28328)	56658	Direct
Option	$7.06	2026-02-25	Common Stock (168539)	168539	Direct
Option	$8.065	2025-03-04	Common Stock (135135)	135135	Direct
Option	$13.365	2024-02-27	Common Stock (65789)	65789	Direct
Option	$10.805	2023-03-23	Common Stock (133000)	133000	Direct
Warrant	$195.1497	2021-07-09	Common Stock (2865)	26533	Direct

Footnotes

F1: The Reporting Person became entitled to receive shares of common stock in settlement of restricted stock units upon their vesting.

F2: 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 on March 4, 2021.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.79 to $11.88 (inclusive) on March 4, 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.

F9: 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.

F10: These options generally become exercisable in equal installments on each of the first three anniversaries of March 4, 2019.

F11: These options generally became exercisable in equal installments on each of the first three anniversaries of February 27, 2018.

F12: These options generally became exercisable in equal installments on each of the first three anniversaries of October 15, 2016.