SEC Form 4 · accession 0001140361-16-054202
GENCO SHIPPING & TRADING LTD · GNK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ian Ashby
Director
Period of report
Feb 17, 2016
Accepted (ET)
Feb 19, 2016 · 4:45 pm EST
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 | Feb 17, 2016 | M | 4,047 | — | A | 4,047 | D | |
| Common StockF1 | Feb 17, 2016 | M | 11,643 | — | A | 15,690 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | Feb 17, 2016 | M | 4,047 | A | — | — | Common Stock | 4,047 | 0 | D |
| Restricted Stock UnitsF1,F2 | — | Feb 17, 2016 | M | 11,643 | A | — | — | Common Stock | 11,643 | 0 | D |
Explanation of responses
- F1The Reporting Person became entitled to receive shares of common stock in settlement of these restricted stock units in connection with his departure from the Issuer's Board of Directors on 2/17/16. Restricted stock units convert into common stock on a one-for-one basis.
- F2The 4,047 restricted stock units vested on July 17, 2015. The vesting of the 11,643 restricted stock units was accelerated in connection with the Reporting Person's departure from the Issuer's Board of Directors.