WOBENSMITH JOHN C 4

What Happened
John C. Wobensmith, Chairman, CEO and President of Genco Shipping & Trading Ltd. (GNK), had performance restricted stock units (RSUs) vest and received 37,284 shares on Feb 18, 2026. To satisfy tax obligations tied to that vesting, 18,642 of those shares were sold in open-market transactions at a weighted average price of $23.26, generating proceeds of $433,613. The sale prices ranged from $22.57 to $23.67. The filing also notes a prior RSU grant/settlement of 41,770 shares reported from Feb 16, 2025 (recorded as a derivative acquisition at $0.00).

Key Details

• Transaction dates: RSU settlement and sale on 2026-02-18 (Form filed 2026-02-18; Period of Report 2026-02-16).
• Sale: 18,642 shares sold, weighted avg price $23.26, total reported proceeds $433,613; individual sale prices ranged $22.57–$23.67.
• Acquisitions: 37,284 shares acquired on 2026-02-18 (RSU settlement); prior 41,770 RSU acquisition noted from 2025-02-16.
• Reason for sale: Shares sold under a pre-existing Rule 10b5-1 plan to satisfy tax withholding on vested performance RSUs (footnotes F1, F2).
• RSU mechanics: Each restricted stock unit represents the right to one share (footnote F4); vesting schedules described in footnotes (see F5–F10 for various grant schedules).
• Shares owned after the transaction: Not specified in the filing.

Context
This was an award/vesting event (A) followed by a routine sale (S) to cover tax obligations — commonly considered administrative rather than a directional investment signal. The filing identifies the sale as executed under a 10b5-1 instruction and provides a weighted average price plus the full price range for the trades. For retail investors, purchases are generally more informative than routine tax-withholding sales; this transaction reflects RSU settlement and tax-related disposition, not an open-market buy.