SEC Form 4 · accession 0001140361-17-038885
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
Oct 15, 2017
Accepted (ET)
Oct 17, 2017 · 5:15 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 StockF1 | Oct 15, 2017 | M | 97,466 | — | A | 169,676 | 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 | — | Oct 15, 2017 | M | 97,466 | D | — | — | Common Stock | 292,398 | 194,932 | D |
| OptionF3 | $11.13 | holding | — | — | — | Oct 15, 2017 | 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
- F1The Reporting Person became entitled to receive shares of common stock in settlement of restricted stock units upon their vesting. 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.
- 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.