Form 4: Genco Shipping & Trading Director Arthur L. Regan Reports Changes in Beneficial Ownership

Director Arthur L. Regan reports changes in beneficial ownership of Genco Shipping & Trading Ltd. common stock and restricted stock units.

Summary

• Arthur L. Regan, a director of Genco Shipping & Trading Ltd., filed a Form 4 disclosing changes in his beneficial ownership of the company's securities.
• The report indicates that Regan directly owns 99,671 shares of Genco Shipping & Trading Ltd. common stock.
• Regan also owns various restricted stock units (RSUs) that represent the right to receive common stock.
• On March 13, 2024, Regan acquired additional RSUs: 136.7 RSUs, 106.88 RSUs, and 147.98 RSUs.
• These additional RSUs were granted in lieu of cash dividends paid on the common stock underlying previously outstanding RSUs.
• The number of additional RSUs was calculated by dividing the dividend amount by the closing price of the company's common stock on the dividend payment date.
• Regan directly owns 7,085.28 RSUs, 5,539.34 RSUs and 7,669.9 RSUs.
• Some RSUs vest in installments on the anniversaries of May 4, 2021, May 17, 2017, May 16, 2022, and May 16, 2023.
• Other RSUs vest on the earlier of the date of the next annual shareholders meeting or fourteen months after the grant date.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Industry Context

This filing is a routine disclosure related to insider transactions and is a standard practice for publicly traded companies. It provides transparency into the holdings and transactions of company insiders.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the holdings of a company director.

Key Dates