Christensen Jesper 4
4 · GENCO SHIPPING & TRADING LTD · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
GENCO (GNK) CCO Jesper Christensen Sells Shares, Exercises RSUs
What Happened
- Jesper Christensen, Chief Commercial Officer of Genco Shipping & Trading Ltd (GNK), had restricted stock units (RSUs) convert into 38,438 shares on Feb 23, 2026 (reported as derivative conversions, code M). On the same day he sold 18,450 of those shares in open-market transactions at a weighted average price of $23.66, generating $436,527. The conversions reflect vesting of previously granted RSUs (see footnotes).
Key Details
- Transaction date: February 23, 2026.
- RSUs converted (acquired): 10,101 + 6,421 + 6,135 + 9,646 + 6,135 = 38,438 shares (reported as exercises/conversions, code M).
- Open-market sale (disposed): 18,450 shares at a weighted average price of $23.66, total proceeds $436,527. Reported sale prices ranged $23.19–$24.07 (multiple trades).
- The filing indicates the sale was made under a pre-existing Rule 10b5-1 plan to satisfy the reporting person's tax obligations on vested RSUs.
- Several derivative entries show $0 proceeds on disposal (net settlement/transfer of vested RSUs); these reflect conversion/settlement mechanics of the awards, not additional cash proceeds.
- Shares owned after the transactions are not specified in the provided excerpt of the filing.
- Filing appears to report same-day vesting and sale; no late-filing indication noted.
Context
- Code M entries = exercise/conversion of a derivative (here, RSUs converting to common shares). Because some or all vested shares were sold immediately under a 10b5-1 plan to cover taxes, this is a routine tax-withholding sale rather than a discretionary open-market trade intended to signal a view on the stock.
- Footnotes describe vesting schedules for multiple RSU grants (some vest over 3- or 5-year schedules) and confirm each RSU generally equals one share on settlement.
- For retail investors: purchases are typically more informative than routine tax-related sales; this transaction largely reflects vesting and tax withholding rather than a clear bullish or bearish insider move.
Insider Transaction Report
Form 4
Christensen Jesper
Chief Commercial Officer
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-02-23+10,101→ 88,412 total - Exercise/Conversion
Common Stock
[F1]2026-02-23+6,421→ 94,833 total - Exercise/Conversion
Common Stock
[F1]2026-02-23+6,135→ 100,968 total - Exercise/Conversion
Common Stock
[F1]2026-02-23+9,646→ 110,614 total - Exercise/Conversion
Common Stock
[F1]2026-02-23+6,135→ 116,749 total - Sale
Common Stock
[F2][F3]2026-02-23$23.66/sh−18,450$436,527→ 98,299 total - Exercise/Conversion
Restricted Stock Units
[F1][F4][F6]2026-02-23−10,101→ 20,202 total→ Common Stock (10,101 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4][F7]2026-02-23−6,421→ 6,421 total→ Common Stock (6,421 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4][F8]2026-02-23−6,135→ 0 total→ Common Stock (6,135 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4][F9]2026-02-23−9,646→ 19,294 total→ Common Stock (9,646 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4][F10]2026-02-23−6,135→ 6,135 total→ Common Stock (6,135 underlying)
Holdings
- 24,863
Restricted Stock Units
[F4][F5]→ Common Stock (24,863 underlying)
Footnotes (10)
- [F1]The Reporting Person became entitled to receive shares of common stock in settlement of restricted stock units upon their vesting.
- [F10]These restricted stock units generally vest in equal installments on each of the first five anniversaries of February 23, 2022, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
- [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 restricted stock units that vested on February 23, 2026.
- [F3]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $23.19 to $24.07 (inclusive) on February 23, 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/ Jesper Christensen|2026-02-23