Adamo Joseph 4
4 · GENCO SHIPPING & TRADING LTD · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
Genco (GNK) CAO Adamo Joseph Receives RSUs, Sells 6,340 Shares
What Happened
- Adamo Joseph, Chief Accounting Officer of Genco Shipping & Trading Ltd (GNK), had restricted stock units (RSUs) vest on February 23, 2026, converting to 14,087 shares. On the same day he sold 6,340 of those shares in the open market at a weighted average price of $23.67, generating approximately $150,068. The filing also reports derivative-related dispositions at $0, which reflect share settlement/withholding related to the RSU vesting.
Key Details
- Transaction date: February 23, 2026 (filed same day).
- Vesting/conversion: 14,087 RSUs converted to common shares (reported as exercise/conversion of derivative).
- Open-market sale: 6,340 shares sold at a weighted average price of $23.67 for about $150,068; sale prices ranged from $23.19 to $24.07.
- Other dispositions: The filing shows the RSU-converted shares reported as disposed at $0 (typical for share withholding/net settlement to satisfy tax obligations).
- Reason/footnotes: The sale was made under a previously established Rule 10b5-1 plan to satisfy tax obligations from the RSU vesting (footnotes F1–F3 explain vesting and the 10b5-1 sale).
- Shares owned after transaction: Not specified in the provided filing.
- Timeliness: Reported and filed on the same date (Feb 23, 2026) — appears timely.
Context
- This was not a market purchase (not a bullish buy); it was RSU vesting with a partial sale to cover taxes, a routine insider transaction. When RSUs vest, companies often withhold or sell shares to satisfy tax withholding; the open-market sale here was executed under a 10b5-1 plan.
Insider Transaction Report
Form 4
Adamo Joseph
Chief Accounting Officer
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-02-23+2,806→ 33,578 total - Exercise/Conversion
Common Stock
[F1]2026-02-23+2,293→ 35,871 total - Exercise/Conversion
Common Stock
[F1]2026-02-23+2,557→ 38,428 total - Exercise/Conversion
Common Stock
[F1]2026-02-23+6,431→ 44,859 total - Sale
Common Stock
[F2][F3]2026-02-23$23.67/sh−6,340$150,068→ 38,519 total - Exercise/Conversion
Restricted Stock Units
[F1][F4][F6]2026-02-23−2,806→ 5,612 total→ Common Stock (2,806 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4][F7]2026-02-23−2,293→ 2,293 total→ Common Stock (2,293 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4][F8]2026-02-23−2,557→ 0 total→ Common Stock (2,557 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4][F8]2026-02-23−6,431→ 0 total→ Common Stock (6,431 underlying)
Holdings
- 6,215
Restricted Stock Units
[F4][F5]→ Common Stock (6,215 underlying)
Footnotes (8)
- [F1]The Reporting Person became entitled to receive shares of common stock in settlement of restricted stock units upon their vesting.
- [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.
Signature
/s/ Joseph Adamo|2026-02-23