Gener8 Maritime, Inc. 4
4 · Gener8 Maritime, Inc. · Filed May 16, 2017
Insider Transaction Report
Form 4
Busch Nicolas
Director
Transactions
- Exercise/Conversion
Common Stock
2017-05-16+9,584→ 9,584 total - Award
Restricted Stock Units
2017-05-16+11,214→ 11,214 total→ Common Stock (11,214 underlying) - Exercise/Conversion
Restricted Stock Units
2017-05-16−9,584→ 0 total→ Common Stock (9,584 underlying)
Footnotes (4)
- [F1]The Reporting Person is a director and minority beneficial owner of Navig8 Limited. This Form 4 excludes 3,590,294 shares of GNRT common stock owned by Navig8 Limited. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
- [F2]Each restricted stock unit represents a contingent right to receive one share of GNRT common stock, or in the sole discretion of GNRT's Compensation Committee, the cash value of a share of GNRT common stock on the date that the restricted stock unit vests.
- [F3]On September 9, 2016, the reporting person was granted 9,584 restricted stock units, vesting on the earliest of (i) the date of the first annual meeting of shareholders of GNRT following the transaction date, (ii) the first anniversary of the transaction date, (iii) a change of control of GNRT and (iv) the death or disability of the reporting person.
- [F4]The restricted stock units vest on the earliest of (i) the date of the first annual meeting of shareholders of GNRT following the transaction date, (ii) the date that is thirty days following the first anniversary of the transaction date, (iii) a change of control of GNRT and (iv) the death or disability of the reporting person.