SEC Form 4 · accession 0001140361-18-011301
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
Feb 27, 2018
Accepted (ET)
Mar 1, 2018 · 5:09 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 | holding | — | — | — | 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 | — | Feb 27, 2018 | A | 20,088 | A | — | — | Common Stock | 20,088 | 20,088 | D |
| OptionF3 | $13.69 | Feb 27, 2018 | A | 65,789 | A | Feb 27, 2019 | Feb 27, 2024 | Common Stock | 65,789 | 65,789 | D |
| Restricted Stock UnitsF1,F3,F4 | — | holding | — | — | — | — | — | Common Stock | 194,932 | 194,932 | D |
| OptionF5 | $11.13 | holding | — | — | — | Oct 15, 2017 | Mar 23, 2023 | Common Stock | 133,000 | 133,000 | D |
| WarrantF6 | $259.10 | holding | — | — | — | Aug 7, 2015 | Aug 7, 2020 | Common Stock | 47,613 | 476,133 | D |
| WarrantF6 | $287.30 | holding | — | — | — | Aug 7, 2015 | Aug 7, 2020 | Common Stock | 49,340 | 493,402 | D |
| WarrantF6 | $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.
- F2These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 27, 2018.
- F3These options generally become exercisable in equal installments on each of the first three anniversaries of February 27, 2018.
- F4Of the original grant of 292,398 restricted stock units, 97,466 restricted stock units vested on October 15, 2017. The remaining unvested restricted stock units will generally vest in equal installments on October 15, 2018 and 2019, respectively.
- F5These options generally become exercisable in equal installments on each of the first three anniversaries of October 15, 2016.
- F6These warrants became exercisable in equal installments on each of the first three anniversaries of August 7, 2014.