WOBENSMITH JOHN C 4
4 · GENCO SHIPPING & TRADING LTD · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
Genco (GNK) CEO John Wobensmith Sells 39,244 Shares
What Happened John C. Wobensmith — Chairman, President and CEO of Genco Shipping & Trading Ltd. — had multiple restricted stock units (RSUs) convert to common shares on February 23, 2026. The filing shows five conversion/settlement events totaling 78,486 shares becoming payable upon vesting. Of those, 39,244 shares were sold in the open market at a weighted average price of $23.66 for total proceeds of $928,513. The filing also reports disposals at $0 for the conversion tranches, consistent with shares withheld/surrendered in connection with vesting/tax obligations.
Key Details
- Transaction date: February 23, 2026 (Form 4 filed the same day).
- Open-market sale: 39,244 shares at a weighted average price of $23.66; total proceeds reported $928,513. Price range on that day: $23.19–$24.07 (per footnote).
- RSU conversions: Five conversion/exercise entries totaling 78,486 shares (these represent RSU settlements upon vesting).
- Withholding/surrender: The filing shows corresponding disposals at $0 for the vested tranches, reflecting shares withheld or surrendered to satisfy tax/settlement obligations. Footnote F2 confirms the open-market sale was under a pre-existing Rule 10b5-1 plan to satisfy tax obligations for RSUs that vested on Feb 23, 2026.
- Vesting/award details: Each restricted stock unit generally equals one share (F4). Various footnotes describe vesting schedules for different grants (some vest over 3 or 5 years; see filing footnotes F5–F11 for specific schedules).
- Shares owned after transaction: not specified in the provided summary — see the full Form 4 for total beneficial ownership.
- Filing timeliness: Reported with the same report date (no indication of a late filing in the provided data).
Context
- These entries reflect RSU vesting and settlement (derivative conversion), not a cash purchase. Some or all vested shares were either sold in the open market (39,244 sold under a 10b5-1 plan) or reported as disposed at $0 (withheld/surrendered for taxes/settlement).
- Sales to satisfy tax withholding or per a trading plan are routine and do not necessarily indicate a change in the insider’s view of the company. For full detail on how many shares were withheld vs. sold and current post-transaction holdings, consult the complete Form 4 filing (accession 0001140361-26-006466).
Insider Transaction Report
Form 4
WOBENSMITH JOHN C
DirectorChairman, CEO, and President
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-02-23+17,059→ 542,434 total - Exercise/Conversion
Common Stock
[F1]2026-02-23+12,842→ 555,276 total - Exercise/Conversion
Common Stock
[F1]2026-02-23+13,293→ 568,569 total - Exercise/Conversion
Common Stock
[F1]2026-02-23+22,508→ 591,077 total - Exercise/Conversion
Common Stock
[F1]2026-02-23+12,784→ 603,861 total - Sale
Common Stock
[F2][F3]2026-02-23$23.66/sh−39,244$928,513→ 564,617 total - Exercise/Conversion
Restricted Stock Units
[F1][F4][F6]2026-02-23−17,059→ 34,119 total→ Common Stock (17,059 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4][F7]2026-02-23−12,842→ 12,843 total→ Common Stock (12,842 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4][F8]2026-02-23−13,293→ 0 total→ Common Stock (13,293 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4][F9]2026-02-23−22,508→ 45,016 total→ Common Stock (22,508 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4][F10]2026-02-23−12,784→ 12,776 total→ Common Stock (12,784 underlying)
Holdings
- 41,770
Restricted Stock Units
[F4][F5]→ Common Stock (41,770 underlying) - 69,284
Option
[F11]Exercise: $9.91From: 2022-02-23Exp: 2027-02-23→ Common Stock (69,284 underlying)
Footnotes (11)
- [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 installments of 21.43% per annum on each of the first three anniversaries of February 23, 2022, 17.86% on the fourth such anniversary, and 17.85% on the fifth such anniversary, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.
- [F11]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 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/ John C. Wobensmith|2026-02-23