Allen Peter George 4
4 · GENCO SHIPPING & TRADING LTD · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Genco Shipping (GNK) CFO Peter George Sells Shares
What Happened
- Peter George, Chief Financial Officer of Genco Shipping & Trading Ltd. (GNK), sold 6,232 shares in an open‑market transaction on Feb 18, 2026 for a weighted average price of $23.27, generating proceeds of about $145,019.
- At the same time period he received settlement/awards of restricted stock units (RSUs): 12,983 shares were delivered upon vesting on Feb 18, 2026 (F1, F4) and 24,863 RSUs were reported as a derivative acquisition on Feb 16, 2026 (listed at $0.00 as a derivative award). The total number of RSUs acquired/settled in these entries equals 37,846 shares.
Key Details
- Transaction dates and prices:
- Feb 18, 2026 — Sale of 6,232 shares; weighted average price $23.27; price range for the trades: $22.61–$23.67 (F3). Proceeds ≈ $145,019.
- Feb 18, 2026 — 12,983 shares acquired on settlement of performance RSUs (F1, F4).
- Feb 16, 2026 — 24,863 RSUs reported as a derivative acquisition ($0.00 reported value).
- Reason for sale: Shares sold under a pre‑existing Rule 10b5‑1 plan to satisfy tax withholding obligations tied to vested performance RSUs (F2).
- Shares owned after transaction: Not provided in the excerpt of this filing.
- Notable footnotes: F1 (settlement of performance RSUs), F2 (10b5‑1 sale for tax withholding), F3 (weighted avg price and price range disclosure), F4–F9 (RSU mechanics and vesting schedules). F10 references exercisable options schedules but no option exercise was reported here.
- Filing timeliness: No late‑filing flag is indicated in the provided data.
Context
- This is a common pattern: RSUs vest, the grantee receives shares and sells a portion to cover taxes. The sale here is therefore likely a tax‑withholding sale under a 10b5‑1 plan rather than an independent bet on the stock.
- The derivative entry ($0.00) reflects entitlement to receive shares upon vesting (RSUs) rather than a cash purchase; no option exercise or cash acquisition was reported in these transactions.
Insider Transaction Report
Form 4
Allen Peter George
Chief Financial Officer
Transactions
- Award
Common Stock
[F1]2026-02-18+12,983→ 58,234 total - Sale
Common Stock
[F2][F3]2026-02-18$23.27/sh−6,232$145,019→ 52,002 total - Award
Restricted Stock Units
[F4][F5]2026-02-16+24,863→ 24,863 total→ Common Stock (24,863 underlying)
Holdings
- 30,303
Restricted Stock Units
[F4][F6]→ Common Stock (30,303 underlying) - 11,925
Restricted Stock Units
[F4][F7]→ Common Stock (11,925 underlying) - 1,306
Restricted Stock Units
[F4][F8]→ Common Stock (1,306 underlying) - 3,323
Restricted Stock Units
[F4][F9]→ Common Stock (3,323 underlying) - 15,435
Restricted Stock Units
[F4][F9]→ Common Stock (15,435 underlying) - 2,178
Option
[F10]Exercise: $9.91From: 2022-02-23Exp: 2027-02-23→ Common Stock (2,178 underlying)
Footnotes (10)
- [F1]The Reporting Person became entitled to receive shares of common stock in settlement of performance restricted stock units upon their vesting.
- [F10]These options generally become exercisable in equal installments on each of the first three anniversaries of February 23, 2021.
- [F2]These shares were sold under instructions given in a previously existing plan established in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in order to satisfy the reporting person's tax obligations for performance restricted stock units that vested on February 18, 2026.
- [F3]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.61 to $23.67 (inclusive) on February 18, 2026. The reporting person undertakes to provide to Genco Shipping & Trading Limited, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
- [F4]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.
- [F5]These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 23, 2026, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
- [F6]These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 23, 2025, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
- [F7]These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 23, 2024, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
- [F8]These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 23, 2023, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
- [F9]These restricted stock units generally vest in equal installments on each of the first five anniversaries of February 23, 2023, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
Signature
/s/ Peter Allen|2026-02-18