GENCO SHIPPING & TRADING LTD — Director's Dealing 2021

Feb 26, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GENCO SHIPPING & TRADING LTD (GNK)
CIK: 0001326200
Period of Report: 2021-02-23

Reporting Person: Hughes Robert E (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-25	Common Stock	M	3934	—	Acquired	3934	Direct
2021-02-25	Common Stock	S	1888	$10.6921	Disposed	2046	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-23	Restricted Stock Units	$	A	8409	Acquired		Common Stock (8409)	Direct
2021-02-23	Option	$9.91	A	9623	Acquired	2027-02-23	Common Stock (9623)	Direct
2021-02-25	Restricted Stock Units	$	M	3934	Disposed		Common Stock (3934)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option	$7.06	2026-02-25	Common Stock (23408)	23408	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 settled in shares of the issuer's common stock on February 25, 2021.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.31 to $11.11 (inclusive) on February 25, 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.