HAINES KATHLEEN C 4

What Happened

• Kathleen C. Haines, a director of GENCO Shipping & Trading Ltd. (GNK), was granted a total of 2,193.21 restricted stock units (RSUs) on March 18, 2026. Each RSU represents the right to receive one share (or, at the issuer’s discretion, the cash value of a share) when the RSU vests. The grants are reported at $0.00 per unit (award code A), so no cash was paid and no immediate value was realized on grant.

Key Details

• Transaction date: March 18, 2026; Form 4 filed March 20, 2026 (filed within the typical 2-business-day window).
• Grants: Ten RSU tranches totaling 2,193.21 RSUs (individual amounts listed in the filing).
• Price/Value: $0.00 per RSU at grant (derivative award); value realized only upon vesting/settlement based on market price then.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Notable footnotes:
  • F1: Each RSU = right to one share or cash equivalent at vesting.
  • F10/F11: Many RSUs vest on the earlier of the next annual shareholders’ meeting after the grant date or July 20, 2026; some RSUs were granted in connection with her appointment as Lead Independent Director (F11).
  • F12: Some additional RSUs reflect dividend equivalents credited to outstanding RSUs.
  • F2–F9: References to previously vested RSU tranches from 2018–2025.
• Transaction type code: A = Award/Grant (derivative RSUs).

Context

• RSU grants are not purchases or sales; they are deferred compensation that convert into shares (or cash) when they vest. Because these are awards, they do not necessarily signal immediate buying or selling intent. The economic value to the insider will depend on GNK’s share price at vesting/settlement and any tax-withholding provisions (not detailed in the provided excerpt).