Allen Peter George 4

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.