SEC Form 4 · accession 0001140361-15-031183
GENCO SHIPPING & TRADING LTD · GNK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Apostolos Zafolias
Officer — Chief Financial Officer
Period of report
Aug 7, 2015
Accepted (ET)
Aug 11, 2015 · 9:02 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001326200
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Aug 7, 2015 | S | 3,038 | $7.1749 | D | 15,953 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WarrantF3 | $25.91 | holding | — | — | — | Aug 7, 2015 | Aug 7, 2020 | Common Stock | 40,709 | 0 | D |
| WarrantF3 | $28.73 | holding | — | — | — | Aug 7, 2015 | Aug 7, 2020 | Common Stock | 42,186 | 0 | D |
| WarrantF3 | $34.19 | holding | — | — | — | Aug 7, 2015 | Aug 7, 2020 | Common Stock | 63,437 | 0 | D |
| Warrant | $20.99 | holding | — | — | — | Jul 9, 2014 | Jul 9, 2021 | Common Stock | 1,902 | 0 | D |
Explanation of responses
- F1These 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 shares of common stock that vested on August 7, 2015.
- F2The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.10 to $7.37 (inclusive) on August 7, 2015. 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.
- F3These warrants to purchase shares of common stock of the issuer were issued pursuant to the issuer's 2014 Management Incentive Plan. The warrants will become exercisable in equal installments on each of the first three anniversaries of August 7, 2014.