XML 66 R53.htm IDEA: XBRL DOCUMENT v3.3.1.900

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2015

Restricted Stock Units

Nonvested Stock Awards

Summary of nonvested stock awards

The table below summarized the Successor Company’s RSUs for the year ended December 31, 2015:

		Number of RSUs		Weighted Average Grant Date Price
Outstanding at January 1, 2015 - Successor		—		$	—
Granted		74,403		7.11
Vested		(16,188	)	7.00
Forfeited		—		—
Outstanding at December 31, 2015 - Successor		58,215		$	7.15

The following table summarizes certain information of the RSUs unvested and vested as of December 31, 2015:

Unvested RSUs December 31, 2015							Vested RSUs December 31, 2015
					Weighted
		Weighted			Average				Weighted
Number of RSUs		Average Grant Date Price			Remaining Contractual Life		Number of RSUs		Average Grant Date Price
58,215		$	7.15		0.37		16,188		$	7.00

Schedule of nonvested stock amortization expense

		Successor
		Year Ended December 31, 2015			Period from July 9 to December 31, 2014
General, administrative and management fees		$	337		$	—

2014 MIP Plan

Nonvested Stock Awards

Summary of nonvested stock awards

		Number of Shares		Weighted Average Grant Date Price
Outstanding at July 9, 2014 - Successor		—		$	—
Granted		1,110,600		20.00
Vested		—		—
Forfeited		—		—
Outstanding at December 31, 2014 - Successor		1,110,600		$	20.00

		Number of Shares		Weighted Average Grant Date Price
Outstanding at January 1, 2015 - Successor		1,110,600		$	20.00
Granted		—		—
Vested		(370,200	)	20.00
Forfeited		—		—
Outstanding at December 31, 2015 - Successor		740,400		$	20.00

Schedule of nonvested stock amortization expense

		Successor
		Year Ended  December 31,			Period from July 9 to December 31,
		2015			2014
General, administrative and management fees		$	25,941		$	13,390

Summary of warrant activity and warrants outstanding

		Number of Warrants		Weighted Average Exercise Price			Weighted Average Fair Value
Outstanding at July 9, 2014 - Successor		—		$	—		$	—
Granted		8,557,461		30.31			6.36
Exercisable		—		—			—
Exercised		—		—			—
Forfeited		—		—			—
Outstanding at December 31, 2014 - Successor		8,557,461		$	30.31		$	6.36

		Number of Warrants		Weighted Average Exercise Price			Weighted Average Fair Value
Outstanding at January 1, 2015 - Successor		8,557,461		$	30.31		$	6.36
Granted		—		—			—
Exercisable		(2,852,487	)	30.31			6.36
Exercised		—		—			—
Forfeited		—		—			—
Outstanding at December 31, 2015 - Successor		5,704,974		$	30.31		$	6.36

Warrants Outstanding, December 31, 2015

Warrants Exercisable, December 31, 2015

Weighted

Weighted

Weighted

Average

Weighted

Average

Weighted

Average

Remaining

Average

Remaining

Average

Number of

Exercise

Contractual

Number of

Exercise

Contractual

Exercise Price

Warrants

Price

Life

Warrants

Price

Life

$

30.31

5,704,974

$

30.31

4.60

2,852,487

$

30.31

4.60

2014 MIP Plan | Restricted shares

Nonvested Stock Awards

Schedule of nonvested stock amortization expense

		Successor
		Year Ended December 31, 2015			Period from July 9 to December 31, 2014
General, administrative and management fees		$	10,585		$	5,464

Baltic Trading Plan

Nonvested Stock Awards

Summary of nonvested stock awards

		Year Ended December 31,
		2015					2014					2013
		Number of Baltic Trading Common Shares		Weighted Average Grant Date Price			Number of Baltic Trading Common Shares		Weighted Average Grant Date Price			Number of Baltic Trading Common Shares		Weighted Average Grant Date Price
Outstanding at January 1		1,941,844		$	3.80		1,381,429		$	6.03		664,249		$	7.70
Granted		—		—			1,086,345		2.61			998,680		5.60
Vested		(1,941,844	)	3.80			(525,930	)	7.21			(281,500	)	8.48
Forfeited		—		—			—		—			—		—
Outstanding at December 31		—		$	—		1,941,844		$	3.80		1,381,429		$	6.03

Schedule of nonvested stock amortization expense

		Successor							Predecessor
		Year			Period from				Period from			Year
		Ended			July 9 to				January 1 to			Ended
		December 31,			December 31,				July 9,			December 31,
		2015			2014				2014			2013
General, administrative and management fees		$	5,273		$	1,551			$	1,949		$	1,558

Predecessor | 2005 and 2012 GS&T Plans

Nonvested Stock Awards

Summary of nonvested stock awards

		Predecessor
		Period from January 1 to July 9,
		2014
		Number of Shares		Weighted Average Grant Date Price
Outstanding at January 1, 2014 - Predecessor		880,465		$	7.77
Granted		—		—
Vested		(880,465	)	7.77
Forfeited		—		—
Outstanding at July 9, 2014 - Predecessor		—		$	—

		Predecessor
		Year Ended December 31,
		2013
		Number of Shares		Weighted Average Grant Date Price
Outstanding at January 1 - Predecessor		1,108,762		$	9.47
Granted		200,634		1.57
Vested		(407,431	)	9.46
Forfeited		(21,500	)	5.53
Outstanding at December 31 - Predecessor		880,465		$	7.77

Schedule of nonvested stock amortization expense

		Predecessor
		Period from  January 1 to July 9,			Year Ended  December 31,
		2014			2013
General, administrative and management fees		$	2,403		$	2,924

X

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 14.F)
-URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14
-Section F

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(i))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph i
-Article 4

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 28
-Article 5

+ Details

Name:	us-gaap_ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_AwardTypeAxis=us-gaap_RestrictedStockUnitsRSUMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_PlanNameAxis=gnk_GencoShippingAndTradingLimited2014ManagementIncentivePlanMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_AwardTypeAxis=us-gaap_RestrictedStockMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_PlanNameAxis=gnk_BalticTradingPlanMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_StatementScenarioAxis=us-gaap_PredecessorMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_PlanNameAxis=gnk_GencoShippingAndTradingLimited2005And2012EquityIncentivePlansMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: