Adamo Joseph 4

What Happened
Adamo Joseph, Chief Accounting Officer of Genco Shipping & Trading Ltd. (GNK), had performance restricted stock units vest and became entitled to a total of 13,385 shares (7,170 on Feb 18, 2026 and 6,215 on Feb 16, 2026). On Feb 18, 2026 he sold 3,227 of those shares in an open-market sale for a weighted average price of $23.27, generating proceeds of $75,092. The sale was made under a pre-existing Rule 10b5-1 plan to satisfy tax withholding obligations related to the vested RSUs.

Key Details

• Transactions reported: Awards/vests (A) of 7,170 shares on 2026-02-18 and 6,215 shares on 2026-02-16 (the 6,215 listed as a derivative acquisition at $0.00); Open-market sale (S) of 3,227 shares on 2026-02-18.
• Sale price: weighted avg $23.27; sale prices ranged $22.62–$23.67; total proceeds reported $75,092.
• Shares owned after transaction: not specified in the filing.
• Notable footnotes: sale executed under a pre-existing 10b5-1 plan to cover tax obligations from vested performance RSUs (F2); each RSU generally equals one share or cash at committee discretion (F4); multiple footnotes (F5–F8) describe typical three-year vesting schedules for different RSU grants.
• Filing date and timeliness: Form filed 2026-02-18 reporting transactions on Feb 16 and Feb 18; no late-filing flag noted.

Context
These transactions reflect RSU vesting (an award) and a routine sale to cover taxes rather than an outright open-market investment decision. RSUs are derivative awards that convert to shares upon vesting; selling a portion immediately for tax withholding is common and not necessarily an indicator of the insider’s view on the stock.