SEC Form 4 · accession 0001140361-17-013336
GENCO SHIPPING & TRADING LTD · GNK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John C Wobensmith
Officer — CEO, President and Secretary
Period of report
Mar 23, 2017
Accepted (ET)
Mar 24, 2017 · 9:15 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 Stock | holding | — | — | — | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | Mar 23, 2017 | A | 292,398 | A | — | — | Common Stock | 292,398 | 292,398 | D |
| OptionF3 | $11.13 | Mar 23, 2017 | A | 133,000 | A | Oct 15, 2016 | Mar 23, 2023 | Common Stock | 133,000 | 133,000 | D |
| WarrantF4 | $259.10 | holding | — | — | — | Aug 7, 2015 | Aug 7, 2020 | Common Stock | 47,613 | 476,133 | D |
| WarrantF4 | $287.30 | holding | — | — | — | Aug 7, 2015 | Aug 7, 2020 | Common Stock | 49,340 | 493,402 | D |
| WarrantF4 | $341.90 | holding | — | — | — | Aug 7, 2015 | Aug 7, 2020 | Common Stock | 74,195 | 741,958 | D |
| Warrant | $209.90 | holding | — | — | — | Jul 9, 2014 | Jul 9, 2021 | Common Stock | 2,653 | 26,533 | D |
Explanation of responses
- F1Each 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. The restricted stock units will settle only in cash unless the Issuer's 2015 Equity Incentive Plan is amended and restated to increase the number of available shares under such plan by March 23, 2018.
- F2These restricted stock units generally vest in equal installments on each of the first three anniversaries of October 15, 2016.
- F3The options become exercisable in equal installments on each of the first three anniversaries of October 15, 2016.
- F4The warrants become exercisable in equal installments on each of the first three anniversaries of August 7, 2014.