WOBENSMITH JOHN C 4

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).