SEC Form 4 · accession 0001140361-17-001045
GENCO SHIPPING & TRADING LTD · GNK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John C Wobensmith
Officer — President and Secretary
Period of report
Jan 4, 2017
Accepted (ET)
Jan 6, 2017 · 5:28 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 Stock | Jan 4, 2017 | C | 20,617 | $4.85 | A | 72,210 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series A Convertible Preferred Stock, par value $0.01 per shF2 | $4.85 | Jan 4, 2017 | C | 20,617 | D | — | — | Common Stock | 20,617 | 0 | D |
| WarrantF1,F3 | $259.10 | holding | — | — | — | Aug 7, 2015 | Aug 7, 2020 | Common Stock | 47,613 | 476,133 | D |
| WarrantF1,F3 | $287.30 | holding | — | — | — | Aug 7, 2015 | Aug 7, 2020 | Common Stock | 49,340 | 493,402 | D |
| WarrantF1,F3 | $341.90 | holding | — | — | — | Aug 7, 2015 | Aug 7, 2020 | Common Stock | 74,195 | 741,958 | D |
| WarrantF1 | $209.90 | holding | — | — | — | Jul 9, 2014 | Jul 9, 2021 | Common Stock | 2,653 | 26,533 | D |
Explanation of responses
- F1On July 7, 2016, the issuer effected a 1-for-10 reverse stock split. The amount of securities beneficially owned and the exercise price of warrants have been adjusted to reflect the reverse stock split
- F2Shares of Series A Convertible Preferred Stock (the "Preferred Shares") automatically, without any action by the holder, convert into shares of the issuer's common stock as of the close of business on the date on which the issuer obtains the approval of its stockholders to issue shares of common stock upon conversion of the Preferred Shares. Such approval and conversion occurred on January 4, 2017.
- 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.